Boehringer Ingelheim has decided to discontinue development of flibanserin, its compound for hypoactive sexual desire disorder in pre-menopausal women, following its rejection by the US Food and Drug Administration.
The board of directors of Genzyme Corp has rejected Sanofi-Aventis’s unsolicited bid for the company at $69 per share saying that it undervalues the company and its late-stage pipeline which includes a promising new product for multiple sclerosis.
Novartis International AG is teaming up with a newly-created US company to investigate a method for producing influenza vaccines using synthetic biology and genome sequencing. The technology is being called ‘synthetic genomics.’
The Netherlands-based gene therapy company, Amsterdam Molecular Therapeutics Holding NV (AMT), has raised a gross €14.3 million from a private placement of its shares with investors in order to support its gene therapy portfolio.
DiaGenic ASA of Norway has raised NOK 70 million (€8.7 million) in a private placement of its shares to existing and new investors in order to advance its portfolio of diagnostics. The placement was subscribed approximately 1.4 times.
The Roche Group has paid $175 million for full rights to danoprevir, a candidate protease inhibitor against hepatitis C, which it has been co-developing with InterMune Inc of Brisbane, California since 2006.
Johnson & Johnson Inc and Crucell NV have reached agreement whereby the US multinational, through an affiliate, will acquire all of the outstanding shares of Crucell that it does not already own for about €1.75 billion.
Novartis International AG said it is stopping work on albinterferon alfa-2b for hepatitis C and Mycograb (efungumab) for fungal infections in order to focus on more promising products. It will take a charge of $590 million in the third quarter.
A new UK pharmaceutical company, Convergence Pharmaceuticals Ltd, has raised £22.4 million in a Series A round in connection with its launch as spin-out of GlaxoSmithKline Plc. The company has a portfolio of analgesic medicines.
After failing to reach an agreement with Genzyme Corp’s management, Sanofi-Aventis has launched a public tender for all of the outstanding shares of the US biotechnology company that values the concern at $18.5 billion.