GSK, Santaris ink deal worth a potential $700 million
LONDON GlaxoSmithKline has signed a deal with the biotech company Santaris Pharma to develop new antiviral medicine, in a deal that could be worth more than $700 million, according to Reuters. The deal involves drug candidates discovered and developed under the agreement in up to four different viral disease programs.
As part of the deal, Santaris will receive an upfront payment of $3 million for the first antiviral program and an equity investment of $5 million. The deal could be worth more than $700 million based on upfront payments and development and regulatory milestone payments, depending on the success on early-stage research in RNA antagonist compounds.
Santaris will also get high single- to double-digit percentage royalties on worldwide sales of marketed products. GSK will have the option to develop drug candidates in up to four different viral disease programs. It also has an option to include as an additional program Santaris’ pre-clinical hepatitis C compound SPC3649.
LG debuts home health-monitoring in a cell phone
CALGARY, Canada The Home Health Monitoring Solution is a new handheld device developed by LG Electronics allows patients with chronic illnesses to send such information as their pulse, blood pressure and glucose levels to their physician wirelessly, according to published reports.
The goal is eventually to add the technology to cellphones, the same way photography and music capabilities have been added. The product is designed to help patients with illnesses that need constant monitoring. It could also be useful for seniors with limited mobility and for patients who live in rural areas. By constantly keeping track of someone’s medical data it would provide a greater help to the patient and physician monitoring the illness.
The first stage of tests for the three-year project will begin next month. It will involve monitoring blood pressure, pulse and temperature. Down the road, glucose levels and other blood chemistry markers will be added as features.
Senate votes to extend current SCHIP legislation through March 2009
WASHINGTON The Senate on Tuesday approved a bill unanimously that will extend the State Children’s Health Insurance Program through March 2009, according to reports. The House of Representatives plans to look at the issue before the end of the year.
This extension will end a battle for now with President Bush, who had twice vetoed the bill, including the most recent veto last week. Bush vetoed the program the second time because he felt the second version was too similar to the first and would cost too much money as well as shift children from the private marketplace to government run programs.
The bill also would stop a scheduled 10 percent pay cut for Medicare doctors for six months and provide a 0.5 percent increase instead. The health legislation costs about $6 billion, but was paid for by savings in other health programs.
The program currently covers about 6.6 million poor children.