Bristol-Myers Squibb commences tender offer for ZymoGenetics
NEW YORK Bristol-Myers Squibb formally has begun its tender offer for biotech company ZymoGenetics, the drug maker said Friday.
Bristol-Myers Squibb announced its intent to acquire the Seattle-based company earlier this week for $885 million, or $9.75 per share.
The buyout, approved by the boards of both companies, gives Bristol-Myers Squibb ownership of Recothrom, a drug used to control bleeding during surgical procedures, and pegylated-interferon lambda, a treatment for hepatitis C that is in mid-stage clinical trials that the two companies had been developing. ZymoGenetics also had been developing IL-21, a treatment in mid-stage trials for melanoma .
Perrigo gets approval for generic Aldara
ALLEGAN, Mich. The Food and Drug Administration has approved Perrigo’s generic drug for treating skin diseases, the drug maker said Wednesday.
The FDA approved Perrigo’s imiquimod cream in the 5% strength. The drug is a generic version of Graceway Pharmaceuticals’ Aldara.
The drug is used to treat actinic keratoses on the face and scalp, superficial basal cell carcinoma and external genital and perianal warts in patients ages 12 years and older.
GSK inks deal with Lonza, announces CFO’s exit
LONDON Swiss drug maker Lonza will help British drug maker GlaxoSmithKline manufacture five biotech drugs in early- and mid-stage clinical trials, the two companies said Wednesday.
Lonza will manufacture clinical trial batches of the drugs, all monoclonal antibodies in phase-1 and phase-2 testing, and provide additional access to manufacturing capacity so GSK can fulfill future demands. The two companies said other details of the agreement remain confidential.
“We believe this is a critical step in the ongoing and future success of GSK in biopharmaceuticals,” GSK head of biopharmaceutical research and development Ian Tomlinson said.
Tomlinson said the company’s goal was to have a biopharmaceutical portfolio that consistently exceeded 20% of its research and development pipeline by 2015.
In other news, the company said that CFO and executive director Julian Heslop would retire at the end of March 2011. Goldman Sachs executive Simon Dingemans will be appointed CFO designate and executive director in January.