Current medical news and unique business news for anyone who cares about healthcare.
BMY’s hepatitis C acquisition. The announcement that Bristol-Myers Squibb (NYST:BMY) will acquire Inhibitex for $2.5 billion led two companies that are testing experimental hepatitis C drugs to rise in early trading over speculation that they may be acquired, too. Idenix Pharmaceuticals Inc. and Achillion Pharmaceuticals Inc. both also released positive Phase II trial results today, meeting a milestone on the way to entering a $3 billion market.
Bristol-Myers Squibb announced Friday that it would buy Inhibitex for its Phase II hepatitis C treatment, following in the footsteps of Gilead Sciences, who last year shelled out $11 billion for Pharmasset’s hepatitis C candidates.
When Investment Rhymes with Canada
Canada has a proud history of achievement in the areas of science and technology, and the field of biomanufacturing and life sciences is no exception.
Bayer becomes an incubator. In an effort to stay on top of medical innovation in the San Fransisco area, Bayer is dedicating 6,000 square-feet of its Mission Bay Innovation Center to incubate three or four biotech startups, providing them with equipment and expertise in exchange for opportunity for partnerships starting mid-2012.
Novartis recalls popular drugs. It’s recall time at Novartis, as the Swiss drug maker recalls U.S. shipments of Excedrin, NoDoz, Bufferin and Gas-X over concerns of broken tablets or stray pills from other other medicines.
Weight-loss surgery for adolescents. Only 1 to 2 percent of bariatric surgeries are performed on people under the age of 21, but Allergan — the maker of the LapBand — is seeking the FDA’s approval to market its surgery to adolescents as young as 14. The New York Times documented the experience of a 19-year-old who underwent the procedure and reported on some of the challenges she faced.
