News

Roche bid for Genentech runs into resistance

Shareholders of Genentech Inc initially looked like they would not accept Roche’s cash bid of $89 per share for all the shares of Genentech that it doesn’t already own. Following the takeover announcement on 21 July 2008, Genentech shares were trading above the bid price with an early quote at $93.50.

Power to the FDA

There is at least one forum every year where biopharmaceutical executives can pose questions directly to the management of the US Food and Drug Administration’s Center for Drug Evaluation and Research. This is the ‘CDER Town Meeting’ at the annual meeting of the Drug Information Association (DIA).

4SC raises €29.45 million to finance oncology acquisition

The German drug developer, 4SC AG, said that it has raised €29.45 million from existing and new shareholders in order to finance its acquisition of eight oncology projects from Nycomed, a privately-owned, Zurich-based pharmaceutical company. The capital increase was supported by Santo Holding (Deutschland) GmbH, which is 4SC’s largest shareholder.

Actelion and GSK to co-develop insomnia drug

The Swiss biopharmaceutical company, Actelion AG, will receive CHF 150 million (£66 million) up-front and up to CHF 3.15 billion in future milestone payments from GlaxoSmithKline as part of a co-development and co-commercialisation deal for Actelion’s treatment for primary insomnia, almorexant.

Roche drops three HIV discovery programmes

Roche AG has discontinued three HIV discovery programmes because it has determined that they were unlikely to yield products that would be sufficiently innovative compared with what is already on the market. The programmes include one non-nucleoside reverse-transcriptase inhibitor (NNRTI) and two CCR5s, one of which was a small molecule and the other an antibody. The NNRTi drug candidate was a small molecule.

Novartis to buy Speedel for $880 million

Novartis said it will make a mandatory offer valued at CHF 907 million or the equivalent of $880 million for the share capital of Speedel Holding AG, which has developed a first-in-class renin inhibitor for reducing hypertension, Tekturna (aliskiren).

ImmuPharma placement increased to £2.6 million

The AIM-listed company, ImmuPharma Plc, has raised an additional £1.07 million, net of expenses, for its drug development programme bringing the total raised from a recent private placement to £2.6 million.

Roche Pharma suspended from UK industry association

The UK unit of the Swiss multinational, Roche, has been suspended from the Association of the British Pharmaceutical Industry (ABPI) for six months for breaches of the association’s code of practice, the ABPI announced on 14 July 2008.