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J&J to buy Aragon Pharmaceuticals for up to $1 billion

BY Alaric DeArment

NEW BRUNSWICK, N.J. — Drug maker Johnson & Johnson plans to spend up to $1 billion to acquire a privately owned company developing a drug for prostate cancer.

J&J said Monday it would acquire Aragon Pharmaceuticals for $650 million upfront plus up to $350 million in milestone payments, with the expectation that the deal will close in third quarter 2013.

Among the drugs under development at Aragon is ARN-509, currently in mid-stage clinical trials for castration-resistant prostate cancer. Before the deal closes, Aragon plans to transfer all of its assets other than the program to develop drugs like ARN-509 to a new spinoff company, in which J&J will not have any ownership stake. According to published reports, the new company will be called Seragon Pharmaceuticals and will be run by Aragon president and CEO Richard Heyman.


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Dr. Baker Says Co. adds new nut oil supplement to lineup

BY Jason Owen

Cape Cod, Mass. — The Dr. Baker Says Co. introduced last week a new supplement to market containing four omegas, essential fatty acids and a variety of vitamins and minerals.

Dr. Baker Says Nut Oil Complex contains avocado, walnut, pistachio and almond oil to provide omegas 3, 6, 7 and 9, as well as eight essential fatty acids (EFAs) and 16 vitamins and minerals. According to the company, Nut Oil Complex is the only supplement to contain omega-3, vitamin A and arachidic acid, the three necessary nutrients that helps promote optimal retinal health.

Nuts contain many EFAs along with plenty of vitamins and minerals to provide numerous health benefits. Dr. Baker Says Nut Oil Complex extracted nutrients from a handful of nuts into two soft gels and have only 10 calories.

Dr. Baker Says Nut Oil Complex aids healthy digestion, according to the company, which leads to healthy immune, bones and cholesterol levels.

Nut Oil Complex is currently available in Northeast region Whole Foods stores and has a suggested retail price of $24.99.

Please contact Jeanette at [email protected] for more information.


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New York-based company may acquire Elan Corp.

BY Alaric DeArment

DUBLIN — Irish drug maker Elan Corp. said Friday it was looking to sell itself off to a New York-based company that invests in drug royalties after rejecting a previous offer.

The company said it would start a process to be acquired by Royalty Pharma, but that shareholders should not put their shares up for sale into another, hostile takeover attempt by Royalty, in which Royalty offered more than $7.7 billion, or $13 per share, plus $2.50 in milestone payments. Elan has rejected that offer, made last week.

Royalty invests in royalty interests in drugs already on the market and undergoing late-stage clinical trials. Its portfolio includes 80% of Memorial Sloan-Kettering Cancer Center’s royalty on Amgen’s Neupogen (filgrastim) and Neulasta (pegfilgrastim), for which it paid $400 million, and the AstraZeneca’s royalties on AbbVie’s drug Humira (adalimumab), which it bought for $700 million.

Elan Corp.’s stock was trading at $13.74 per share in mid-afternoon Friday.


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