Bayer to Increase Pharmaceutical R&D Spend

Bayer have announced additional details on the future of their pharmaceutical research and development business following the announcement earlier this week that they will be concentrating on their healthcare and crop science businesses going forward. The announcement confirmed Bayer plans to float their material science division on the stock market and focus on life sciences,

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Janssen’s Affiliate Cilag to Acquire Covagen

Janssen affiliate’s Cilag GmbH International has announced that they will be acquiring Swiss biotech Covagen AG for an undisclosed sum. The purchase was finalised in a deal brokered by Johnson & Johnson Innovation Center in London. Covagen specialises in the development of multi-specific protein therapeutics through their FynomAb technology platform, which binds proteins to antibodies,

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Cubist Pharmaceuticals Announce New Zurich Office

Cubist Pharmaceuticals, who specialise in the development of antibiotics for infectious diseases, has announced the launch of their new international headquarters based in Zurich, Switzerland. The new office will expand Cubist’s presence outside of the US, allowing the company to reinforce their commitment to the major public health threat of antimicrobial resistance. Patrick Vink, who

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Reckitt to Spinoff their Pharmaceutical Business

Reckitt Benckiser have today announced that they are planning on separating their pharmaceutical business, as they continue to concentrate on consumer health and hygiene. The process to separate RB Pharmaceuticals to be a separate UK listing is expected to occur within the next 12 months. The decision was founded from Reckitt’s belief that the division

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Biogen Idec Posts Positive Q2 2014 Results

Biogen Idec yesterday announced positive second-quarter financial results for 2014. The results were boosted by sales of their oral multiple sclerosis drug, Tecfidera, which increased net profits by 46%, comfortably passing analyst forecasts. Earnings for Biogen reached $714.5 million, while revenues jumped 40% to reach $2.06 billion. The company’s biggest earners were their multiple sclerosis

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ProStrakan Acquires Archimedes for £230 Million

ProStrakan, which is owned by Japan’s Kyowa Hakko Kirin, has announced that they will be acquiring UK cancer pain specialist, Archimedes Pharma, for £230 million in cash. ProStrakan, which is based in Scotland, is purchasing Reading-based Archimedes from Denmark’s Novo Nordisk Foundation. Archimedes posted sales revenues of £41 million last year, an increase of 33%. 

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Medtronic Acquires Covidien in $42.9 Billion Deal

US medtech company, Medtronic have confirmed the purchase of Ireland’s Covidien for $42.9 billion in cash and stock. Medtronic is the second-largest maker of medical devices, and once the transaction has been completed, the company noted that will have “significantly advanced” their position as a global “premier medical technology and services company.” The combined group,

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