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Leading device firms Medtronic and Genzyme have teamed up for a joint venture focused on developing new cardiovascular disease treatments based on cell therapy.
Boston Scientific last week acquired privately held neuromodulation firm Advanced Bionics for $740 million cash, plus further payments tied to future performance milestones.
The FTC yesterday extended its premerger review period for Sanofi-Synthelabo’s acquisition of Aventis by requesting additional information from the companies to assist its investigation into whether the transaction would present antitrust concerns, according to Sanofi-Synthelabo.
The FTC has asked for more information about Genzyme’s plans to acquire Ilex Oncology, thus extending the time the agency has to review the planned transaction for potential antitrust complications, the two companies announced yesterday.
The parent company of generic firm Par Pharmaceuticals on April 13 said it would acquire generic firm Kali Laboratories for $135 million — a move that more than doubles Par’s research and development capabilities.
Galen Holdings and Barr Pharmaceuticals have finalized deals that give Barr exclusive rights to Galen’s Loestrin oral contraceptive products and Galen the option to market Barr’s generic version of its own oral contraceptive Ovcon 35.
The supervisory board of French pharma giant Aventis, which has been trying to fend off a hostile takeover bid by the smaller French drugmaker Sanofi-Synthelabo, is ready to explore the possibility of taking refuge in the arms of Novartis.
Novartis has said that although it makes sense, from a business point of view, to consider merging with Aventis to rescue the French drugmaker from a hostile takeover bid, it would only move forward on negotiations if French regulators dropped their objections to the potential combination.