The Day In Review: Merck & Co., Inc. Gobbles Up Two Biotechs

Published: May 09, 2006

May 9, 2006 -- Merck will pay $400 million to buy GlycoFi, which specializes in yeast glycoengineering; Merck also will buy Abmaxis for $80 million, a company that focuses on discovery and optimization of monoclonal antibodies; Lilly filed to extend the indication of Cymbalta to include generalized anxiety disorder; Curis extended its partnership with Genentech through December 2006; Medtronic will begin testing a new device that combines a defibrillator with heart pressure recording; Alnylam bought the rights to a RNAi delivery technology from an affiliate of Harvard; Targeted Genetics will put through a one-for-ten reverse split; Introgen Therapeutics has begun administering its Advexin p53 therapy to Li-Fraumeni Syndrome patients; Avicena said its drug candidate for ALS failed a Phase III trial; Pharmasset filed for its IPO; and Novacea cut the asking price for its IPO in half. The Centient Biotech 200™ fell 20 points to 3780.73, a drop of .52%. More details...

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