Business news – Page 74
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Business
Job cuts at Allergan and Transgene
Allergan is shedding 300 staff at former Actavis site in Iceland, while Transgene is closing its French manufacturing plant with loss of 120 jobs
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NewsBP emerges from Deepwater with $18.7bn settlement
BP has agreed to pay an $18.7 billion settlement to five states damaged by the Deepwater Horizon oil spill
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Business
Fracking prohibited in New York state and Lancashire
Local US and UK rulings prohibit shale oil drilling and exploration
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Business
Allergan to buy Kythera Biopharma for $2.1bn
Acquisition strengthens firm’s position in cosmetic treatments with only drug approved for a ‘double chin’
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OpinionMissing the target
There are plenty of things that small molecule drugs can’t touch, says Derek Lowe, and it’s not for want of trying
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BusinessSafer substitutes show growth potential
The global market for alternative products based on ‘green’ chemistry is growing fast, fuelled by regulation and consumer demand
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Business
Alnylam accuses Dicerna of stealing trade secrets
Firm claims rights to GalNAc conjugated siRNA technology acquired from Merck & Co
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Business
Suspect suicide won’t end trade secret theft probe
An ex-PPG chemist who was arrested for selling trade secrets to a Chinese firm has killed himself, but the Justice Department will continue its investigation
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BusinessCompanies clamour for CAR-T
Engineered immune cell therapies show promise in early cancer trials, prompting firms to compete for a foothold in the field
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Business
Vertex nabs rights to cystic fibrosis molecules
Deal with Parion, worth up to $1bn, gives firm worldwide rights to investigational treatments that complement Vertex’s existing cystic fibrosis drugs
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Business
Opko deepens diagnostics with $1.5bn lab buyout
Taking over clinical diagnostics service provider BioReference Laboratories gives Opko a bigger avenue to distribute and market its diagnostic tests
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BusinessBMS sues executive for joining rival company
Bristol-Myers Squibb’s lawsuit against its former immuno-oncology chief who left to work for AstraZeneca has implications for biopharma industry
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Business
Takeda to consolidate vaccines business in Boston
Firm will close three recently-acquired US sites and shift operations to the growing pharmaceutical hub in Massachusetts
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Business
OM Group to be sold and split
Apollo Global Management will buy the firm for $1bn, then sell electronic materials business to Platform Specialty Products
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Business
Teva fined $1.2bn in pay-for-delay case
Company illegally blocked generic competition of sleep disorder drug, and settlement terms tighten up rules on anticompetitive behaviour
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Business
Achillion partners with Janssen to boost hepatitis C pipeline
Development deal worth up to $1.1bn includes three investigational drugs aiming to extend treatment options in fast-moving market
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Business
Actavis plan to thwart generics blocked
Company prevented from withdrawing original formulation of Alzheimer’s drug to force patients onto extended release version and extend patent exclusivity