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TAP Pharmaceutical has licensed the rights to its blockbuster heartburn drug Prevacid to Novartis, which will develop and market an OTC version of the drug when it goes off patent in 2009.
Mylan Laboratories has entered into a supply agreement with a Johnson & Johnson (J&J) subsidiary for J&J’s extended-release incontinence drug Ditropan XL, pending a final court ruling on the firms’ patent dispute.
Looking to further expand its presence in the vaccines market, Novartis is considering making a cash counteroffer for Swiss manufacturer Berna Biotech, which earlier this month agreed to be purchased in an all-stock deal by Dutch drug firm Crucell.
Indian drug firm Glenmark Pharmaceuticals has signed a deal with U.S.-based InvaGen to market generic versions of seven brand drugs with a current annual U.S. market of $4.1 billion, in Glenmark’s latest move to bolster its position in the U.S. market.
Novartis has terminated development of an experimental cholesterol-lowering drug after clinical studies showed the treatment was not more effective than existing medications.
Bristol-Myers Squibb (BMS) plans to cut costs by at least $500 million in 2007 as part of a strategy to improve earnings growth and offset anticipated losses from its recent setback in the development of its key investigational diabetes drug Pargluva.
Roche has pared a list of 200 potential Tamiflu partners down to 12 with whom it plans to begin "in-depth" negotiations for sub-licensing agreements for the highly sought-after antiviral.
Amgen, the world’s largest biotechnology company, will acquire drug development partner Abgenix for $2.2 billion, allowing Amgen to acquire a promising experimental cancer drug that may spell trouble for Bristol-Myers Squibb’s (BMS) and ImClone’s competing drug Erbitux.
Bristol-Myers Squibb (BMS) plans to cut costs by at least $500 million in 2007 as part of a strategy to improve earnings growth and offset anticipated losses from its recent setback in the development of its key investigational diabetes drug Pargluva.