The management of Genzyme Corp has again asked shareholders to reject an all-cash $69 per-share-offer from Sanofi-Aventis SA saying that it substantially undervalues the company. Sanofi has extended its offer for Genzyme until 21 January 2011.
Bavarian Nordic A/S has reached an agreement with the US Food and Drug Administration on the design of a Phase 3 trial for its candidate vaccine for prostate cancer, Prostvac. The Special Protocol Assessment was announced on 8 December.
Cephalon Inc is to pay $130 million upfront for access to stem-cell technology developed by Mesoblast Ltd of Australia as part of an alliance to develop and commercialise adult mesenchymal precursor stem cell therapeutics for disease.
Merck & Co Inc is making a public offering of $2 billion in senior unsecured notes in order to support general corporate operations. The offering consists of $850 million of 2.25% notes due in 2016 and $1.15 billion of 3.875% notes due in 2021.
Johnson & Johnson Inc has launched its recommended offer for Crucell NV at €24.75 per share for all of the shares it does not already own. The price is the same as that announced on 17 September, 2010 when the offer was first disclosed.
AstraZeneca Plc has signed a research agreement with the Joslin Diabetes Center in Boston, Massachusetts to use stem cells to generate new research tools for investigating the causes of Type 2 diabetes.
A public-private consortium that is investigating biomarkers for Alzheimer’s disease said data from a just-completed proteomics study which used plasma samples from a neuroimaging project is now available to download from a public website.
Imperial Innovations Group Plc is proposing to raise £140 million in a rights and convertible share issue in order to invest in companies founded by, or based on, the technology of the Universities of Oxford, Cambridge and University College London.
The unexpected early retirement of Pfizer’s chief executive and chairman, Jeffrey Kindler, drew various comments in the press with most commentators blaming his departure on the intense pressure that comes from running the world’s largest pharmaceutical company at a time when competition from generic pharmaceuticals is intensifying.
Sanofi Pasteur is withdrawing its marketing authorisation application for Emerflu, a vaccine intended for prophylaxis of influenza in the event of a pandemic involving the influenza A virus subtype, H5N1, the European Medicines Agency said.