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  • Celgene to acquire Abraxis

    LOS ANGELES Abraxis BioScience shareholders have approved an acquisition of the company by Celgene, Celgene said Wednesday.

     

    The $3 billion acquisition will give Celgene control of Abraxis’ cancer therapies and its anti-tumor Nab technology.

     

     

  • Weight Watchers, Merck develop lifestyle management approach to fight obesity

    NEW YORK A weight management services provider and a drug maker are teaming up to fight obesity.

  • FDA approves Vivitrol

    SILVER SPRING, Md. The Food and Drug Administration approved a drug to treat and prevent relapse after patients with opioid dependence have undergone detoxification treatment.

    Vivitrol is an extended-release formulation of naltrexone -- which works to block opioid receptors in the brain -- administered by intramuscular injection once a month. It only is administered by a physician.

     

  • Jazz receives complete response letter for fibromyalgia drug

    PALO ALTO, Calif. The Food and Drug Administration has turned down an application from a company seeking approval for a drug to treat fibromyalgia.

     

    Jazz Pharmaceuticals announced Monday that the FDA had given it a complete response letter for the drug JZP-6 (sodium oxybate), citing a need for additional clinical studies and issues concerning the appropriate patient population, ensuring safe use, a proposed risk evaluation and mitigation strategy, and others.

     

     

  • Pfizer to acquire King Pharmaceuticals

    NEW YORK Pfizer will buy King Pharmaceuticals for $3.6 billion, Pfizer said Tuesday.

     

    The world’s largest drug maker announced that it had agreed to acquire Bristol, Tenn.-based King for $14.25 per share, which it said was a 40% premium over the Monday closing price of King’s stock.

     

     

  • Genzyme again rejects Sanofi buyout offer

    CAMBRIDGE, Mass. The board of directors of Genzyme again has rejected a buyout offer by French drug maker Sanofi-Aventis, Genzyme said Thursday.

    The biotech company’s board unanimously turned down the hostile offer Sanofi made Monday to acquire Genzyme for $18.5 billion, or $69 per share, saying it was “opportunistic” and undervalued the company.

     

  • Roche buys rights for danoprevir from InterMune

    BASEL, Switzerland Swiss drug maker Roche has bought the rights to an investigative treatment for hepatitis C, Roche said.

     

    The company announced Thursday that it had purchased global development and commercialization rights to the drug RG7227/ITMN-191 (danoprevir) from InterMune for $175 million.

     

     

    Roche said the drug had shown promise in preclinical and early clinical development. The two companies have been developing the drug since 2006.

     

  • Obesity drug withdrawn following trial showing heart attack, stroke risk

    SILVER SPRING, Md. Clinical trial data indicating an increased risk of heart attack and stroke has led to the removal from the market of an obesity drug made by Abbott, the Food and Drug Administration said Friday.

     

    The FDA said the drug maker voluntarily withdrew the drug Meridia (sibutramine) following a required post-marketing trial showing that the drug increased by 16% the risk of nonfatal heart attacks and strokes, the need for resuscitation after the heart stopped and death.

     

     

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