The Day In Review: Big Pharma Merger In Japan
2/2/2007 7:08:34 PM
February 2, 2007 – Mitsubishi Chemical will buy rival Japanese drug maker Tanabe Seiyaku for $4.3 billion in stock; Anacor out-licensed a topical anti-fungal drug to Schering-Plough in a deal worth up to $615 million; Molecular Insight staged its IPO, selling 5 million shares at $14 each; Genentech said Raptiva was effective against psoriasis; Abbott announced steady use of Humira would help psoriasis patients; the Data Safety committee told GTx to continue its Phase III trial of Acapodene; Hollis-Eden said HE3286 was effective in a rodent model of arthritis; and Cell Therapeutics will effect a one-for-four reverse split on April 2, 2007. The Centient Biotech 200™ was down 15 points today at 4067, a loss of .36%. More details...