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The FTC will allow biotechnology company Genzyme’s proposed $1 billion acquisition of Ilex Oncology to proceed as long as the companies surrender the rights to a key organ transplant drug, according to the terms of a consent order.
Following weeks of speculation, Johnson & Johnson (J&J) finally hammered out a deal Dec. 16 to purchase medical device giant Guidant, giving the company its first foothold in the rapidly growing cardiac rhythm device market.
Brand firm King Pharmaceuticals has announced it will restate its earnings results for 2002, 2003 and the first six months of 2004 — a move that could allow generic firm, Mylan Laboratories to pull out of a deal to purchase King without having to pay an $85 million penalty fee.
In a deal that will place the company in a leading position in the anesthesia and safety devices markets, British manufacturer Smiths Group secured an agreement last week to purchase devicemaker Medex for $925 million.
Boston Scientific recently exercised its right under an existing agreement to obtain an exclusive license for the use of paclitaxel, the active agent used in the company’s Taxus Express2 coronary stent system.
CardioTech International has executed a definitive agreement to acquire CarTika Medical, a Plymouth, Minn.-based private medical device contract manufacturer.
St. Jude Medical has entered into an exclusive agreement with Conor Medsystems to distribute Conor’s COSTAR drug-eluting stent (DES) in Japan, Korea, Australia and New Zealand.