| Medivation, Inc. Q1 2010 Earnings Call Transcript Medivation, Inc. (MDVN)Q1 2010 Earnings CallMay 10, 2010 04:30 am ETComplete Story » seekingalpha.com |
Malaria's Tenacious Buzz Even as the fight against malaria gains momentum, research reveals that malaria's tentacles continue to dig ever deeper. online.wsj.com |
Geron to Resume Stem-Cell Study Geron can proceed with early testing of an embryonic-stem-cell treatment for spinal-cord injuries after the FDA lifted a nearly yearlong hold on the trial. online.wsj.com |
Biotech Haircut: Abbott to Cut 3,000 Jobs After Absorbing Solvay Pharmalot submits: And the industry job cuts keep on coming. Abbott Labs (ABT) is now cutting about 3,000 jobs and phasing out some R&D work. Jobs will be cut from commercial, R&D, manufacturing and staff operations, primarily at Solvay locations in Europe, such as The Netherlands and Germany. As part of the cuts, the Solvay US headquarters in Marietta, Georgia, will be shuttered. The move comes roughly one year after Abbott purchased Solvay’s drug business for $6.2 billion, but failed last month to find a buyer for the Solvay vaccine business, a deal that some believed could fetch $600 million or more. An Abbott spokeswoman says certain R&D programs will be discontinued, such as traumatic brain injury, cardio/metabolic indications, and diabetes, but the drugmaker is not exiting work from specific therapeutic categories. For those curious about the fate of the Solvay vaccine biz, the cell-based vaccine program will be among the programs to be ended, but egg-based vaccine research will continue.Complete Story » seekingalpha.com |
Pfizer Beefs Up Pain Portfolio With King Pharma Buy Pharmalot submits: In the latest example of how Pfizer (PFE) is trying to become a Hollywood-like conglomerate, the drugmaker has agreed to pay $3.6 billion to buy King Pharmaceuticals (KG), which sells various pain medications. Among them is a tamper-resistant form of long-acting morphine called Embeda, which was actually developed by Alpharma, a company that King purchased last year. King also is developing a tamper-resistant, long-acting form of oxycodone called Remoxy that would compete with a new form of OxyContin that the FDA approved this month for sale by Purdue Pharma. Pfizer will also own the Skelaxin muscle relaxant and the Flector pain patch. The drugmaker has gone on record saying it wants to expand its so-called pain portfolio, which currently includes the Celebrex arthritis drug and the Lyrica nerve treatment.Complete Story » seekingalpha.com |