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According to a report by European association OPEN Minds, European
Union (EU) governments are continuing to underestimate the therapeutic value
of opiate painkillers.
As South Korean drugmakers attempt to boost sales, mainly by expanding
historically weak R&D activity and launching new, export-friendly generics,
prospects for the sector remain hampered by the lack of a clear domestic industry
leader.
The Perrigo Company announced that it has adopted a written trading plan under
Rule 10b5-1 of the Securities Exchange Act of 1934 to facilitate the repurchase
of its common stock in accordance with the share repurchase program authorized
by its board as announced on April 26, 2005.
Generex Biotechnology, a leader in the area of buccal drug delivery, announced
that it has entered into a Product Licensing & Distribution Agreement pursuant
to which MedGen, with the assistance of Generex, will make application to the
Lebanese Ministry of Public Health seeking approval for the commercial sale
of Oral-lyn, the company's proprietary oral insulin buccal spray formulation,
in the Republic of Lebanon.
Gyrus Group Plc, a UK maker of surgical devices, agreed to pay $333 million
in cash for American Cystoscope Makers Inc., a U.S. maker of urological and
gynecological medical devices controlled by Fox Paine & Co. The transaction
also includes another $164 million in debt, Cardiff, Wales-based Gyrus said.
Apollo offered 19 million shares at 50 cents each and expects to list on the
Australian Stock Exchange on June 29 with a market capitalisation of A$76.6
million.
Genentech announced that its board of directors has authorized the extension
of its current stock repurchase program for the repurchase of up to an additional
$2 billion of its common stock for a total of $4 billion through June 30, 2006.
The Royal Canadian Mounted
Police (RCMP) Greater Toronto Area Federal Enforcement Section executed a search
warrant at King West Pharmacy at King Street West in Hamilton in connection
with an on-going criminal investigation into the sale of a counterfeit heart
medication.
As the country awaits a final Constitutional Court ruling on controversial
government pricing regulations, South Africa's pharmacy lobby has claimed its
industry is facing collapse.
Brazil's president has approved a decree that would cut the tax burden
on roughly 1,000 prescription pharmaceuticals by 11%. The move is expected to
benefit sales, without substantially affecting multinational sector margins.