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Biotech News International news Biotechnology news from around the world. |
Teva keen on Ivax acquisition
July 25 – Teva Pharmaceuticals has positioned itself to be the worlds biggest generic drug maker after reports that the company is seeking to acquire Ivax Corporation for US$7.5 billion in cash and stock. Teva's US$20 billion market capital is over three times that of Ivax with a value of US$6 billion. In February 2005, Novartis entered a US$8 billion deal to acquire Hexal and Eon Labs, placing it as the top generics company. If successful, the acquisition will significantly boost Teva's revenues as analysts state the companies combined would generate US$8 billion in sales in 2005.
[Source: Reuters]
PCRM claims Merck passed Vioxx on animal experiments
July 14 – The US Physicians Committee for Responsible Medicine has filed a suit against Merck & Co alleging the company relied on positive animal safety results, while ignoring human trial data for the painkiller Vioxx. The suit claims Merck was aware of the limitations of animal testing data and, while ignoring more effective safety assessment methods, cited animal data to justify its safety and prolong sales of the drug. Vioxx was removed from the market following the VIGOR clinical trial that linked Vioxx to congestive heart failure. The case is believed to be the first time a US pharmaceutical company has been sued specifically for relying on animal tests.
[Source: Physicians Committee for Responsible Medicine]
