GlaxoSmithKline [LSE/NYSE: GSK] and Genelabs Technologies, Inc. [NASDAQ: GNLB] have entered into a definitive agreement pursuant to which GSK will acquire Genelabs for approximately $57 million (£35 million) through a tender offer of $1.30 per share in cash. This strategic acquisition will strengthen GSKâs effort to develop and deliver novel therapies against the hepatitis C virus (HCV). 
AstraZeneca PLC has reported that sales in the third quarter increased by 3 percent at CER, or 9 percent on an as reported basis. Sales in the US were unchanged, as the $141 million decline in sales of Toprol-XL from generic competition was offset by 5 percent growth in the rest of the US business. 
Novartis has strengthened its capabilities for developing medicines that can be delivered via the lungs through a definitive agreement to acquire the pulmonary drug delivery business unit of Nektar Therapeutics (NASDAQ: NKTR) for USD 115 million in cash. 
The Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMEA) has adopted a negative opinion on a Cymbalta® (duloxetine hydrochloride) application for the treatment of fibromyalgia. 
Sales by the Roche Group in the first nine months of 2008 increased by 6% in local currencies (-2% in Swiss francs; 13% in US dollars) to 33.3 billion Swiss francs. Excluding Tamiflu pandemic sales to governments and corporations, sales rose 10% (2% in Swiss francs; 17% in US dollars). The rise in the Swiss franc against most currencies, particularly against the US dollar, resulted in Swiss franc growth being eight percentage points lower than growth in local currencies. 
Genzyme Corporation (NASDAQ: GENZ) has announced that third-quarter revenue rose 21 percent to $1.160 billion, compared with revenue of $960.2 million in the same period a year ago. The increase was driven by double-digit growth in every Genzyme business unit. AstraZeneca has announced its submission of SEROQUEL XR (quetiapine fumarate extended release tablets) to European regulatory authorities seeking approval for both short-term and maintenance treatment of Generalised Anxiety Disorder (GAD).