Business & Industry News Channel
Novartis has gained the exclusive worldwide rights to elinogrel, a promising anti-clotting agent in Phase II clinical trials that has shown potential to offer clinical improvements over current anti-clotting medications in helping patients avoid heart attacks and strokes.
Bayer Schering Pharma AG, the pharmaceutical division of Bayer HealthCare (BHC), announced today that it will be
strengthening its global Research and Development (R&D) capabilities through the foundation of a global R&D center in Beijing, China. The company will invest some 100 million Euro over the next five years to establish the center. 
Genzyme Corp. (NASDAQ: GENZ) has announced solid fourth-quarter revenue and earnings growth and provided guidance for 2009 that underscored its positive outlook for the year. GAAP net income rose to $86.7 million, or $0.31 per diluted share, compared with $78.9 million, or $0.29 per diluted share, in the prior fourth quarter. Non-GAAP net income increased 16 percent to $288.5 million compared with $249.2 million in the fourth quarter of 2007. Based on the positive findings from the clinical development phase II trial, Bayer Schering Pharma has begun a phase III program with its oral agent riociguat. Two phase III trials will investigate the application in patients with both chronic thromboembolic pulmonary hypertension (CTEPH) and pulmonary arterial hypertension (PAH). Riociguat is the first member of a new class of therapeutics stimulating the enzyme soluble guanylate cyclase (sGC). 
Schering-Plough announces an investment in early drug discovery technologies supporting Research and Development. Ultra High Throughput Screening (uHTS) capabilities will be established at the SPRI centers in Kenilworth (U.S.), Newhouse (Scotland) and Oss (the Netherlands) in order to allow discovery of high quality leads from the Schering-Plough compound library. Schering-Plough Corporation (NYSE: SGP - News) has reported financial results for the 2008 fourth quarter and full year. "Schering-Plough delivered a very strong performance in 2008 - in the face of intensifying pressures on our industry," said Fred Hassan, chairman and CEO.
Sanofi-aventis announced that the European Commission has granted competition law clearance to the proposed acquisition of Zentiva NV (Zentiva) by sanofi-aventis Europe. Sanofi-aventis welcomes this decision, which will allow the Offer to proceed. The offer expiration date is maintained at February 20, 2009.