News

The Roche Group has reached a “friendly” agreement to acquire all the outstanding shares of Genentech Inc that it doesn’t own for $95 per share or $46.8 billion in cash.

The ReNeuron Group Plc, which has received permission for a first-in-man trial of a neural stem cell treatment for stroke, has lined up financing for the year ahead.

The price of GW Pharmaceuticals Plc rose by 41.8% in London following the UK company’s announcement of positive Phase 3 results for its lead drug, Sativex, a cannabinoid compound for treating multiple sclerosis (MS).

Following positive Phase 3 data for its gene therapy for brain cancer, Ark Therapeutics plans to take three more gene-based medicines into the clinic in 2009. All three use an adenoviral vector platform to deliver a gene treatment.

The US National Institutes of Health (NIH) will be issuing new guidelines on how scientists should conduct research using embryonic stem cells following President Barack Obama’s decision to lift restrictions on federal funding of this research.

Merck & Co. is acquiring Schering Plough Corp in a combination valued at $41.1 billion.

Flamel Technologies SA reported a 5% increase in turnover for 2008 to $38.6 million and a 68% decline in its net loss to $12.1 million because of an across-the-board decline in operating charges.

Pharmexa A/S of Denmark has decided to change its therapeutic focus from vaccines to human antibodies and will accomplish this by merging with the privately-owned Norwegian antibody research company, Affitech AS.

Galapagos NV said that spending on research and development will increase in 2009 as it brings two products into the clinic for the first time. Meanwhile, revenues are expected to rise by 30% to €100 million on the back of income from its services division and pharmaceutical company alliances.

After encountering resistance from the management of Genentech, the Roche Group has increased its hostile offer for all the shares of Genentech Inc that it doesn’t already own to $93 per share from $86.50 per share.