The Day In Review: Pain Therapeutics Gets $150 Million Payment From King Pharmaceuticals®, Inc.

January 3, 2006 -- Pain Therapeutics received the first $150 million payment from its partnership with King Pharma, following the closing of a deal announced in November; Dusa Therapeutics paid $30 million to acquire fellow dermatology drug maker Sirius Labs; Aspreva Pharma and Roche received orphan drug designation for CellCept as a treatment for myasthenia gravis; SFBC International jumped 18% higher after replacing its old management; Avanir Pharma received a $5 million milestone payment from AstraZeneca; and AstraZeneca filed for approval of Seroquel as a treatment for depressive episodes associated with bipolar disorder. In the first trading session of 2006, the Centient Biotech 200™ was 57 points higher at 4010.13, a rise of 1.44%. More details...

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