Gilead to buy Corus Pharma for $365M and ImClone Systems and Merck KGaA Amend and Supplement ERBITUX Agreement
Biotech News
Gilead to buy Corus Pharma for $365M and ImClone Systems and Merck KGaA Amend and Supplement ERBITUX Agreement
07/21/2006 - Biotechnology industry news provided by Financial News USA (OTC: FNWU). Corus Pharma Inc., a privately held biotechnology company, is being sold to Gilead Sciences Inc. for $365 million. Foster City, Calif.-based Gilead (NASDAQ: GILD) secured an exclusive option to purchase the remaining shares of the Seattle company when it invested $25 million in Corus in April. As part of the deal, Gilead said it had paid an undisclosed amount of money to drug giant Novartis A/G to settle a trade secrets lawsuit against Corus. MedImmune, Inc. (Nasdaq: MEDI) announced recently 2006 second-quarter revenues of $73 million and a net loss of $63 million, or $0.26 per share, including share-based compensation expense and as calculated in accordance with generally accepted accounting principles (GAAP). Excluding share-based compensation expense, MedImmune's net loss was $66 million, or $0.27 per share.
ImClone Systems Incorporated (NASDAQ: IMCL) and Merck KGaA, Darmstadt, Germany, announced recently that they have entered into agreements amending and supplementing the 1998 development and license agreement covering ERBITUX® and certain other work in the field of EGFR-targeted antibodies. As part of the agreements, ImClone Systems consented to Merck's sublicense of certain intellectual property rights relating to the development and commercialization of an anti-EGFR antibody to Takeda Pharmaceutical Company. Dutton Associates updates its coverage of NutraCea (OTCBB:NTRZ) maintaining its rating at Strong Buy with a target price of $1.80. The 10-page report by Dutton senior analyst Gerald F. LaKarnafeaux, CFA is available at www.jmdutton.com as well as from First Call, Bloomberg, Zacks, Reuters, Knobias, and other leading financial portals. On October 4, 2005, the merger of NutraCea and RiceX was completed. The benefits of the merger to NutraCea are substantial.
Gilead to buy Corus Pharma for $365M and ImClone Systems and Merck KGaA Amend and Supplement ERBITUX Agreement
07/21/2006 - Biotechnology industry news provided by Financial News USA (OTC: FNWU). Corus Pharma Inc., a privately held biotechnology company, is being sold to Gilead Sciences Inc. for $365 million. Foster City, Calif.-based Gilead (NASDAQ: GILD) secured an exclusive option to purchase the remaining shares of the Seattle company when it invested $25 million in Corus in April. As part of the deal, Gilead said it had paid an undisclosed amount of money to drug giant Novartis A/G to settle a trade secrets lawsuit against Corus. MedImmune, Inc. (Nasdaq: MEDI) announced recently 2006 second-quarter revenues of $73 million and a net loss of $63 million, or $0.26 per share, including share-based compensation expense and as calculated in accordance with generally accepted accounting principles (GAAP). Excluding share-based compensation expense, MedImmune's net loss was $66 million, or $0.27 per share.
ImClone Systems Incorporated (NASDAQ: IMCL) and Merck KGaA, Darmstadt, Germany, announced recently that they have entered into agreements amending and supplementing the 1998 development and license agreement covering ERBITUX® and certain other work in the field of EGFR-targeted antibodies. As part of the agreements, ImClone Systems consented to Merck's sublicense of certain intellectual property rights relating to the development and commercialization of an anti-EGFR antibody to Takeda Pharmaceutical Company. Dutton Associates updates its coverage of NutraCea (OTCBB:NTRZ) maintaining its rating at Strong Buy with a target price of $1.80. The 10-page report by Dutton senior analyst Gerald F. LaKarnafeaux, CFA is available at www.jmdutton.com as well as from First Call, Bloomberg, Zacks, Reuters, Knobias, and other leading financial portals. On October 4, 2005, the merger of NutraCea and RiceX was completed. The benefits of the merger to NutraCea are substantial.
posted by Bill Austin - Gilead to buy Corus Pharma for $365M and ImClone Systems and Merck KGaA Amend and Supplement ERBITUX Agreement
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