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Amid signs that the drive to expand R&D activity and tap foreign
markets is proving a severe drain on the financial performance of many large
Indian drug firms, some drugmakers are opting to drive expansion from a solid
base in the core domestic market.
GlaxoSmithKline and Vitae Pharmaceuticals have formed an exclusive worldwide
strategic alliance to develop and commercialize novel drug compounds for the
treatment of hypertension and related cardiovascular disorders.
Provid Pharmaceuticals of North Brunswick, N.J., has entered into a collaborative
research agreement with Immune Control of West Conshohocken, Pa., for the development
of lead compounds for diseases with immunological causes. Provid will employ
its expertise in structure-based design, peptide mimetics technology, and medicinal
chemistry to develop the lead compounds.
Generex Biotechnology, a leader in the area of buccal drug delivery, announced
today that that it has signed a definitive agreement with the holders of its
6% Secured Convertible Debentures for the issuance of additional Debentures
and warrants for an aggregate purchase price of $2,000,000.
Revotar Biopharmaceuticals AG (Revotar) announced today that the Committee for
Orphan Medicinal Products (COMP) of the European Medicines Agency (EMEA) has
granted orphan-drug designation to Revotar's pan-selectin antagonist bimosiamose
disodium for the treatment of acute lung injury.
Global Pharmatech, a company which combines R&D of botanical drug products,
manufacturing, and sales and marketing for the over-the-counter (OTC) and prescription
drug markets, announced that it's wholly owned subsidiary, Jilin Natural Pharmatech,
has received approval from the Center for Drug Administration, Singapore Health
Sciences Authority, for two new herbal drug products, Qing-Chang-Pai-Du and
Qing-Xue capsules.
Ahead of the G8 meeting of finance ministers of industrialised countries,
France has increased its pledges to the Global Fund to combat key fatal diseases
in Africa including HIV/AIDS and malaria.
Argentina has drafted a number of notable drug sector reforms
since 2002, but the retail sector has attracted much of the government's attention
in recent months.