Most Clicked BIO SmartBrief Stories
1. Sanofi-Aventis takes an acquisition bid for Genzyme public
BIO SmartBrief | Aug 30, 2010
Sanofi-Aventis CEO Chris Viehbacher said the company made a public offer to buy Genzyme for $69 per share, or $18.5 billion, after "several unsuccessful attempts" to reach an agreement with the biotech firm. Genzyme declined to comment on the cash bid. Los Angeles Times (08/30)
2. Genzyme rejects $18.5 billion takeover bid from Sanofi
BIO SmartBrief | Aug 31, 2010
Genzyme's board of directors unanimously turned down a takeover bid from French drugmaker Sanofi-Aventis, saying the $18.5 billion offer is an "unrealistic" estimate of the biotech company's worth. After months of investor speculation, Sanofi publicly made an offer of $69 a share, which Sanofi CEO Chris Viehbacher called "a sizable premium" over Genzyme's share value. Forbes (08/30)
3. Report: Amgen may spend billions on acquisitions outside the U.S.
BIO SmartBrief | Sep 01, 2010
Amgen may spend a portion of its cash pile of billions on acquisitions outside the U.S., according to this Reuters analysis. The biotech firm could be eyeing European drugmakers UCB, Actelion and Ipsen, but some analysts predict that it also will consider buying U.S.-based companies including Human Genome Sciences and Dendreon. Reuters (08/31)
4. Sale of Genzyme is possible if the price is right, CEO says
BIO SmartBrief | Sep 02, 2010
Genzyme CEO Henri Termeer said he will consider putting the biotech company up for sale if the price is right. Termeer said he will oppose Sanofi-Aventis' unsolicited offer of $18.5 billion, or $69 per share, because such an offer underestimates Genzyme's portfolio of experimental drugs. Bloomberg (09/01)
5. Human trials of stem cell therapies draw scrutiny
BIO SmartBrief | Aug 30, 2010
Stem cell trials planned by Geron and Advanced Cell Technology have sparked concern from proponents and critics about maturity and preparedness as well as ethical aspects of the experiments. Because human trials of stem cell treatments are inevitable, companies and researchers need to be careful and make extensive preparations to ensure the safety of volunteers, said Hank Greely, a Stanford University lawyer and bioethicist. Washington Post, The (08/29)
6. Justice Department appeals injunction on stem cell research funding
BIO SmartBrief | Sep 01, 2010
The Justice Department has filed an appeal asking Judge Royce Lamberth to decide by Sept. 7 on its request to revoke an injunction on federal funding for research involving embryonic stem cells. "Numerous ongoing projects will likely not survive even a temporary gap in funds, jeopardizing both the potential benefit of the research and the hundreds of millions of dollars of taxpayer funds already invested in it," the agency said in a filing. Meanwhile, NIH Director Francis Collins said the injunction also could jeopardize 1,300 jobs. Reuters (08/31)
7. Roche denies speculation about reducing pharmaceutical jobs
BIO SmartBrief | Aug 30, 2010
Roche Holding denied a report from Swiss newspaper Sonntag that the company might decide to eliminate thousands of jobs in its pharmaceutical division during a meeting this week. "We are always working to improve productivity and will continue to do so," a Roche spokesman said. "But it is too early to speculate on potential job cuts." ABC News (08/29)
8. NIH orders internal researchers to stop embryonic stem cell studies
BIO SmartBrief | Aug 31, 2010
The NIH has ordered the termination of all internal research using human embryonic stem cells in compliance with a court ruling that blocks federal funding for such studies. In an e-mail issued Friday, Intramural Research Deputy Director Dr. Michael Gottesman called on the unit's scientists to "succinctly describe what research will be terminated" and "describe any alternate use of funds that will become available as a result of this action." Washington Post, The (08/30)
9. Pfizer will buy FoldRx to expand its pipeline for rare diseases
BIO SmartBrief | Sep 02, 2010
Pfizer agreed to purchase FoldRx Pharmaceuticals, a biotech firm that is developing a drug to treat a rare neurodegenerative disease, for an undisclosed amount. The acquisition, expected to conclude this year, is in line with Pfizer's strategy of increasing its portfolio of medicines for rare disorders. American City Business Journals (09/01)
10. Scientists find a gene variant linked to migraines
BIO SmartBrief | Aug 30, 2010
An international group of researchers has identified a gene that seems to increase the risk of migraine by enabling glutamate, a chemical responsible for sending messages in the brain, to accumulate in the junction between brain cells. The scientists said the finding might help in the search for additional drugs to treat the condition. Daily Mail (London), The (08/30)
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