The Day In Review: Amgen Buys Avidia, Inc. For $290 Million

Published: Sep 29, 2006

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...

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