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Savient Pharmaceuticals an emerging specialty pharmaceutical company engaged
in developing, manufacturing and marketing pharmaceutical products that address
unmet medical needs in niche and broader markets, today announced that it expects
the closing of the sale of its global biologics manufacturing business to Ferring
to occur within the next 30 days.
On June 20, GlaxoSmithKline (GSK) and UCB Japan jointly announced that they
have agreed to co-promote Imuran tablets, an immunosupressant manufactured and
currently distributed by GSK, in Japan.
Celtic Pharmaceutical Holdings, LP, a newly formed private equity investment
fund targeting the pharmaceutical industry, announced the launch of the fund
and its first investment with the agreed takeover of the UK biotechnology company,
Xenova PLC, for a total consideration of approximately GBP20 million.
The chief executive of AstraZeneca has warned that the pharmaceutical industry
will direct more of its future investment to the US and Asia if the current
uncompetitive climate persists in Europe.
Following the controversial introduction of amendments to South Africa's
Medicines and Related Substances Act last year, the government has moved to
clarify the legal status of the dispensing professions.
Despite recent tax reforms which could see retail drug prices cut
by as much as 15% in Brazil, local surveys have continued to highlight the high
local cost of patented pharmaceuticals.