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Kuwait Petroleum Corporation has confirmed that it has sold its remaining
3.4% stake in French drug major sanofi-aventis, reportedly worth EUR2.68bn (US$3.49bn).
Canadian pharmaceuticals firm GB Therapeutics signed an exclusive
licence agreement for a molecule known as CHF1512, currently under development
by Italy's Chiesi Farmaceutici SpA.
Recent negotiations between the research-based drug sector and government officials
in Germany have failed to create changes to the country's fixed-level price
support structure.
Vietnam's Pharmaceutical Management Department has urged international
drugmakers not to increase selling prices without prior permission from the
Health Ministry.
Indian generic drugmaker Dr. Reddy's has reported interim results
for the fourth quarter of 2004, with revenue declining 8% year-on-year to INR4.7bn
(US$107.61mn).
Israeli media sources report that Teva's successful challenge to
a patent on US drug major Merck's Fosamax Weekly, a blockbuster osteoporosis
treatment, may not allow the company to gain exclusivity on the first generic
launch for the drug.
The Brazilian state investment bank, the BNDES, has announced
that it is to finance the development and active ingredients production expansion
programme of local drugmaker Nortec Química.
Leading Lithuanian drugmaker Sanitas is to build a new factory in
Kaunas, Lithuania, which it claims will have capacity for 1bn pills, 120 million
ampoules, and up to 12 million bottles of eye drops and other products.