Bristol-Myers Squibb to buy Inhibitex for $2.5 billion
January 8, 2012 in Medications
Pharmaceutical giant Bristol-Myers Squibb Company announced it was acquiring Inhibitex, Inc., a company specializing in treatment of hepatitis C, for $2.5 billion (1.9 billion euros).
The transaction has been approved by the boards of directors of both companies, the Saturday announcement said.
Inhibitex has been focusing on development of nucleotide medicines designed for treatment of hepatitis C.
Its lead product under development, known as INX-189, has displayed potent antiviral abilities, experts said.
"The acquisition of Inhibitex builds on Bristol-Myers Squibb's long history of discovering, developing and delivering innovative new medicines in virology and enriches our portfolio of investigational medicines for hepatitis C," Lamberto Andreotti, chief executive officer of Bristol-Myers Squibb, said in a statement.
"There is significant unmet medical need in hepatitis C," he added. "This acquisition represents an important investment in the long-term growth of the company."
Russell Plumb, president and CEO of Inhibitex, said the transaction puts INX-189 and his company's other assets in the hands of an organization that can "more optimally develop them."
Bristol-Myers Squibb will finance the acquisition, which is expected to be completed in about a month, from its existing cash resources, officials said.
(c) 2012 AFP
-
Initial Hepatitis C drug trial complete
Sep 02, 2010 |
not rated yet |
0
-
Trials begin on potent new hepatitis C drug
May 14, 2010 |
not rated yet |
0
-
Bristol-Myers recalls Coumadin blood thinner
May 02, 2011 |
not rated yet |
0
-
AIDS drug offered free to the Third World
Feb 15, 2006 |
not rated yet |
0
-
Bristol-Myers Squibb sees 3Q profit dip 2 percent
Oct 26, 2010 |
not rated yet |
0
-
Motion perception revisited: High Phi effect challenges established motion perception assumptions
Apr 23, 2013 |
3 / 5 (2) |
2
-
Anything you can do I can do better: Neuromolecular foundations of the superiority illusion (Update)
Apr 02, 2013 |
4.5 / 5 (11) |
5
-
The visual system as economist: Neural resource allocation in visual adaptation
Mar 30, 2013 |
5 / 5 (2) |
9
-
Separate lives: Neuronal and organismal lifespans decoupled
Mar 27, 2013 |
4.9 / 5 (8) |
0
-
Sizing things up: The evolutionary neurobiology of scale invariance
Feb 28, 2013 |
4.8 / 5 (10) |
14
-
Why is zone 1 in liver more prone to ischemic injury?
19 hours ago
-
How can there be villous adenoma in colon, if there are no villi there
May 22, 2013
-
How can there be a term called "intestinal metaplasia" of stomach
May 21, 2013
-
Pressure-volume curve: Elastic Recoil Pressure don't make sense
May 18, 2013
-
If you became brain-dead, would you want them to pull the plug?
May 17, 2013
-
MRI bill question
May 15, 2013
- More from Physics Forums - Medical Sciences
More news stories
Merck ends development of Parkinson's disease drug
(AP)—Merck & Co. says it is ending development of an experimental Parkinson's disease drug because the drug wasn't working.
Medications
5 hours ago |
1 / 5 (1) |
0
J&J expects 10-plus new drug applications by 2017
(AP)—Johnson & Johnson is developing what could eventually be game-changing treatments for depression and pain, and it's aiming to apply for approval of more than 10 new medicines by 2017, executives said Thursday during ...
Medications
6 hours ago |
5 / 5 (1) |
0
Experts favor US approval of Merck sleeping pill (Update)
An independent panel of experts on Wednesday recommended US approval of a new Merck sleeping pill called suvorexant, but expressed concerns over the highest dosage and risks of drowsy daytime driving.
Medications
May 22, 2013 |
not rated yet |
0
Glaxo, US partnering to develop new antibiotics
GlaxoSmithKline PLC says it's starting an unusual collaboration with the U.S. government to develop several antibiotics for both bioterrorism threats and bacterial infections resistant to current medicines.
Medications
May 22, 2013 |
not rated yet |
0
Study finds new pneumococcal vaccine appears to be as safe as previously used vaccine
The new 13-valent pneumococcal conjugate vaccine (PCV13) appears to be as safe as the previous version used prior to 2010, the 7-valent pneumococcal conjugate vaccine (PCV7), according to a Kaiser Permanente study published ...
Medications
May 22, 2013 |
not rated yet |
0
Controlling mood through the motions of mitochondria
(Medical Xpress)—Regulating the distribution of power in neurons is done by a system that makes the national electric grid look simple by comparison. Each neuron has several thousand mitochondria confined ...
Multiple research teams unable to confirm high-profile Alzheimer's study
Teams of highly respected Alzheimer's researchers failed to replicate what appeared to be breakthrough results for the treatment of this brain disease when they were published last year in the journal Science.
Motion quotient: IQ predicted by ability to filter motion (w/ video)
A brief visual task can predict IQ, according to a new study. This surprisingly simple exercise measures the brain's unconscious ability to filter out visual movement. The study shows that individuals whose ...
Scientists discover molecule triggers sensation of itch
Scientists at the National Institutes of Health report they have discovered in mouse studies that a small molecule released in the spinal cord triggers a process that is later experienced in the brain as ...
Researchers find common childhood asthma unconnected to allergens or inflammation
Little is known about why asthma develops, how it constricts the airway or why response to treatments varies between patients. Now, a team of researchers at Weill Cornell Medical College, Columbia University Medical Center ...
Diabetes' genetic underpinnings can vary based on ethnic background, studies say
Ethnic background plays a surprisingly large role in how diabetes develops on a cellular level, according to two new studies led by researchers at the Stanford University School of Medicine.