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Dragon Pharmaceutical has announced that at the annual meeting of shareholders
held Jan. 11, the shareholders approved the acquisition by Dragon of Oriental
Wave by accepting all the proposals in over 99 percent of the shares represented
and voting.
Chelsea Therapeutics, which took on a new name and a new headquarters last July,
has raised $14.5 million in a private placement. Chelsea was known as Aspen
Therapeutics before it moved.
ViroPharma has received a $6 million payment for its existing inventory of Pleconaril
bulk drug substance from Schering-Plough Corp. Schering-Plough assumed responsibility
for all future development and commercialization of an intranasal formulation
of Pleconaril under an agreement signed last year.
Abgenix will receive a milestone payment from Chiron
triggered by Chiron's filing of an investigational new drug (IND) application
with the FDA for the novel oncology compound CHIR-12.12, a fully human antagonist
antibody targeting CD40.
Merck's anti-emetic Emend will qualify for coverage as a Medicare Part B drug
under a proposed coverage decision recently issued by the Centers for Medicare
& Medicaid Services (CMS).
The governor of Illinois has asked the Canadian prime minister to consider adopting
stronger rules for internet and mail-order pharmacies rather than banning prescription
drug exports altogether.
Statin developers have received positive news on the research front
in the form of two clinical studies that indicate statin drugs help reduce the
body's level of c-reactive protein (CRP), which has been associated with increased
risks of coronary disease.