The Day In Review: Amgen (AMGN) Buys Avidia, Inc. For $290 Million
10/3/2006 10:23:09 AM
September 29, 2006 – Amgen will pay $290 million to buy Avidia, a privately held company with a lead anti-inflammatory drug; Lilly must perform another three-year clinical trial of Arxxont to win approval; Corcept announced another failure for Corlux, a depression therapy; Merck announced a longer timeline for its cardiovascular drug candidate; BioCryst released positive data from a Phase I trial on flu therapy; Pfizer won European approval for Champix, an anti-smoking drug; Memory received a $2 million milestone from Amgen; ViroPharma began a Phase III study of maribavir in stem cell transplant patients. The Centient Biotech 200™ was up one-third of one point, closing at 3821.43, a gain of .01%. More details...