Abbott to boost business with Facet acquisition
ABBOTT PARK, Ill. Abbott will acquire Facet Biotech for $450 million, the drug maker announced Wednesday.
Abbott said the $27-per-share deal to buy the Redwood City, Calif.-based Facet would bolster its pipeline with treatments for autoimmune disorders and cancer in early- to mid-stage development. Facet plans to begin phase 3 trials of the multiple sclerosis treatment daclizumab, which it is developing with Biogen Idec, later this year. It also has several treatments for multiple myeloma and chronic lymphocytic leukemia in phase 1 and phase 2 trials.
“We believe this transaction provides full and fair value for our stockholders and validates the potential of Facet’s clinical and technology assets, all of which has resulted from the effort and dedication of our employees,” Facet president and CEO Faheem Hasnain said in a statement. “Abbott’s depth of expertise in immunology and oncology makes it an excellent organization to maximize the full potential of these promising clinical programs and technologies.”
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RediClinic offering Latisse consultations
HOUSTON RediClinic, which operates 22 retail health clinics inside select H-E-B stores in the Greater Houston and Austin area, now is offering Latisse, an FDA-approved prescription treatment to grow lashes.
Latisse is a prescription treatment for hypotrichosis used to grow eyelashes. Eyelash hypotrichosis is another name for not having enough eyelashes or eyelashes that are inadequate. The topical solution must be applied each night on the skin of the upper eyelid margins at the base of the eyelashes. Results are gradual and peak after 12 to 16 weeks.
RediClinic is offering Latisse consultations for $69.
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Bristol-Myers Squibb, AstraZeneca announce postmarketing study for Onglyza
WILMINGTON, Del. Two drug makers hope to find out how well a diabetes drug works in treating patients who run the risk of developing cardiovascular diseases in a post-marketing study announced Tuesday.
Bristol-Myers Squibb and AstraZeneca announced the start of a phase 4 study of 12,000 patients with Type 2 diabetes treated with the drug Onglyza (saxagliptin). The placebo-controlled study, called SAVOR-TIMI 53, will take place over a five-year period and follow patients who have a history of previous cardiovascular problems or multiple risk factors for vascular disease, with the goal of determining whether adding Onglyza to their current standard of care will reduce their risk of cardiovascular death, heart attack or stroke.
The Food and Drug Administration approved Onglyza in July 2009.
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