The Day In Review: Deals Dominate Biotech News

December 12, 2006 -- Indevus will buy Valera Pharma for $120 million; GlaxoSmithKline signed up with Epix Pharma to develop four compounds in a deal with $1.2 billion of milestones; Abbott will partner with Enanta Pharma to develop protease inhibitors that treat hepatitis C; Sangamo licensed an immunoreceptor useful in treating human cancers from the City of Hope; Biomira reached a SPA covering the Phase III trial of Stimuvax, a lung cancer drug; Sanofi-Aventis said the combination of Lovenox and Clexane was effective in stroke patients; Vivus announced the FDA accepted its filing for EvaMist approval; Bristol-Myers Squibb launched Abilify Injection; Peregrine said bavituximab reduced the growth of human prostate tumors; United Therapeutics began a trial of a gene therapy compound for pulmonary arterial hypertension; Genentech said Avastin met its endpoint in a Phase III trial for renal cell carcinoma; Millennium reported Velcade was effective against newly diagnosed multiple myeloma; ZymoGenetics said atacicept was well tolerated and effective in two Phase Ib trials; EntreMed announced Panzem was beneficial to patients with multiple myeloma; CuraGen released positive data on a multiple myeloma drug; and Cell Therapeutics found pixantrone effective against relapsed NHL. The Centient Biotech 200™ dropped 16 points to end at 3972, a loss of .41%. More details...