GlaxoSmithKline to acquire Genelabs Technologies to increase focus on novel small molecule therapies
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).
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AstraZeneca PLC Third Quarter and Nine Months Results 2008
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.
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Novartis to acquire Nektar Therapeutics pulmonary business unit
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.
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European CHMP adopts negative opinion on Cymbalta for the treatment of fibromyalgia
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.
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Roche posts sustained double-digit sales growth for the first nine months of 2008
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.
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Genzyme Reports Strong Third-Quarter Sales and Earnings Growth
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.
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AstraZeneca Announces European SEROQUEL XR Submission
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).
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