Pharma Business Week articles from March 2003

Pharma Business Week archives from March 2003

Study demonstrates comparable antiviral efficacy of HIV drugs.
March 10, 2003... 2003 MAR 10 - (NewsRx.com & NewsRx.net) -- Results of the 2NN study show no statistical difference between Viramune (nevirapine, Boehringer Ingelheim) and efavirenz (Sustiva, Bristol Myers Squibb Co.) in anti-HIV efficacy with respect to viral...

New biotech company launched by industry veteran.
March 10, 2003... 2003 MAR 10 - (NewsRx.com & NewsRx.net) -- Cardinal Health, Inc., (CAH) announced the formation of the Biotechnology and Sterile Life Sciences business. The new business brings together a full complement of existing biotechnology and...

Clinical trials expanded with novel vaccine.
March 10, 2003... 2003 MAR 10 - (NewsRx.com & NewsRx.net) -- Several additional cancer centers in the United States and Canada are enrolling patients in a clinical trial evaluating the use of a therapeutic cancer vaccine in patients with first-line metastatic...

Launching blockbuster drugs: Postlaunch marketing resources rising.
March 10, 2003... 2003 MAR 10 - (NewsRx.com & NewsRx.net) -- Postlaunch marketing accounts for 34% of the total marketing spent once a new pharmaceutical product hits the market, according to a new study by pharmaceutical intelligence firm Cutting Edge...

AAPD partners with Scriptsense for a mail order pharmacy benefit.
March 10, 2003... 2003 MAR 10 - (NewsRx.com & NewsRx.net) -- The American Association of People with Disabilities (AAPD) announced that it is partnering with Scriptsense, a mail-order prescription drug organization, to make national-brand pharmaceuticals...

Sullivan named as director of business development, sales.
March 10, 2003... 2003 MAR 10 - (NewsRx.com & NewsRx.net) -- Genomics Collaborative, Inc., (GCI) has named Gregory Sullivan II to the position of director of business development and sales. In this role, Sullivan will be responsible for sales of the...

New company to focus on developing cancer therapeutics.
March 10, 2003... 2003 MAR 10 - (NewsRx.com & NewsRx.net) -- Genesis Bioventures, Inc., (GBI), announced that Genesis Bioventures, Inc., (GBI) and Innathera, Inc., have executed the previously announced definitive agreement for a proposed business combination...

Cash position doubles for cancer drug maker.
March 10, 2003... 2003 MAR 10 - (NewsRx.com & NewsRx.net) -- Genta Incorporated (GNTA) announced financial results for the fourth quarter and year ended December 31, 2002, which included a strong cash position of $113.7 million, more than double the 2001...

Diagnostics company reports increased net income, provides clinical update.
March 10, 2003... 2003 MAR 10 - (NewsRx.com & NewsRx.net) -- Gen-Probe Incorporated (GPRO) reported its financial results for the fourth quarter and year-ended December 31, 2002. Net income for the fourth quarter was $5.0 million, or $0.21 per share,...

Expected revenues of $35M are 56% increase for generic drug maker.
March 10, 2003... 2003 MAR 10 - (NewsRx.com & NewsRx.net) -- Caraco Pharmaceutical Laboratories, Ltd., (CARA) revenues for 2003 are expected to jump 56% to $35 million, from 2002 revenues of $22.4 million, which were up 278% from 2001 revenues, Narendra N....

Pharmaceutical company reports fourth quarter results and Aldurazyme milestones.
March 10, 2003... 2003 MAR 10 - (NewsRx.com & NewsRx.net) -- BioMarin Pharmaceutical, Inc., (BMRN) announced financial results for its fourth quarter and the full year ended December 31, 2002. Revenue for the fourth quarter of 2002 was $3.1 million compared...

Pharmaceutical company reports increased R&D expenses.
March 10, 2003... 2003 MAR 10 - (NewsRx.com & NewsRx.net) -- Avanir Pharmaceuticals (AVN) reported financial results for the first quarter of fiscal year 2003, ended December 31, 2002. Revenues for the first quarter of fiscal year 2003 were $819,000,...

Pharmaceutical company reports net loss of $7.7M.
March 10, 2003... 2003 MAR 10 - (NewsRx.com & NewsRx.net) -- Alliance Pharmaceutical Corp. (ALLP) reported a net loss of $7.7 million, or $0.41 per share, for its second fiscal quarter ended December 31, 2002, compared to a net loss of $10.5 million, or $0.79...

Pharmacogenomics company reports net losses of $5.6M.
March 10, 2003... 2003 MAR 10 - (NewsRx.com & NewsRx.net) -- Genaissance Pharmaceuticals, Inc., (GNSC) reported its financial results for the fourth quarter and year ended December 31, 2002. For the quarter ended December 31, 2002, revenue was $2.6 million...

Share repurchase program resumed by pharma giant.
March 10, 2003... 2003 MAR 10 - (NewsRx.com & NewsRx.net) -- Abbott Laboratories (ABT) announced that it has resumed its share repurchase program, effective immediately. In June 2000, the board of directors authorized the repurchase of 25 million shares of...

INGENOtyping agreement deal signed.
March 10, 2003... 2003 MAR 10 - (NewsRx.com & NewsRx.net) -- Ingenium Pharmaceuticals AG announced that it has signed a research agreement with Sequenom, Inc., (SQNM). Ingenium will use its INGENOtyping platform technology to produce murine models with...

Pharmaceutical manufacturer remains confident in strength of patents.
March 10, 2003... 2003 MAR 10 - (NewsRx.com & NewsRx.net) -- In response to recent news regarding patent litigation surrounding Ribapharm, Inc.'s (RNA) drug ribavirin, ICN Pharmaceuticals, Inc., (ICN) announced that it believes Ribapharm's patent position to be...

Suit filed against pharmaceutical giant for "unlawful practices".
March 10, 2003... 2003 MAR 10 - (NewsRx.com & NewsRx.net) -- AIDS Healthcare Foundation (AHF) filed a false advertising lawsuit against British-owned pharmaceutical giant GlaxoSmithKline Plc (GSK) over claims that GSK makes concerning its AIDS drug prices and...

Company announces $17 million financing, reports year-end financial results.
March 10, 2003... 2003 MAR 10 - (NewsRx.com & NewsRx.net) -- Neose Technologies, Inc., (NTEC) announced that is has entered into a definitive agreement to sell 2,866,763 shares of Neose common stock at $6.00 per share in a private placement, yielding more than...

Company announces $10 million private placement.
March 10, 2003... 2003 MAR 10 - (NewsRx.com & NewsRx.net) -- Onyx Pharmaceuticals, Inc., (ONXX) announced that it has raised gross proceeds of $10 million in a private placement primarily with Deerfield Management Co., Inc. The company sold 2,105,263 shares...

Launches of novel bone-forming agents will drive market.
March 10, 2003... 2003 MAR 10 - (NewsRx.com & NewsRx.net) -- Decision Resources, Inc., forecasts that launches of novel bone-forming agents, such as Eli Lilly's Forteo (teriparatide), will play a major role in driving the growth of the osteoporosis market. ...

Joseph Ianelli added to management team.
March 10, 2003... 2003 MAR 10 - (NewsRx.com & NewsRx.net) -- Paratek Pharmaceuticals, Inc., has named Joseph Ianelli as vice president, licensing. Ianelli's principal responsibilities will be to coordinate and oversee Paratek's technology licensing efforts...

Survey finds strong support for new technologies.
March 17, 2003... 2003 MAR 17 - (NewsRx.com & NewsRx.net) -- Twenty-three percent of Americans - or nearly one in four - say they or a family member have received the wrong medication at some point from a health care professional, according to the latest...

Novel method estimates absolute bioavailability of drugs from oral data.
March 17, 2003... 2003 MAR 17 - (NewsRx.com & NewsRx.net) -- A novel method provides an accurate estimate of the absolute bioavailability of drugs from oral data. "The goal of this investigation was to evaluate the performance of a novel method allowing...

FDA accepts NDA for Oxymorphone extended release, immediate release formulations.
March 17, 2003... 2003 MAR 17 - (NewsRx.com & NewsRx.net) -- Endo Pharmaceuticals, Inc., a wholly owned subsidiary of Endo Pharmaceuticals Holdings, Inc., (ENDP; ENDPW), announced that the New Drug Applications (NDAs) for its oxymorphone extended release tablets...

Alliance targets development of novel pancreatic enzyme preparations.
March 17, 2003... 2003 MAR 17 - (NewsRx.com & NewsRx.net) -- Axcan Pharma, Inc., (Axcan) announced that it has entered into an agreement with Nordmark Arzneimittel GMBH & Co. KG (Nordmark) of Germany, the manufacturer of Panzytrat. Under the terms of the...

Companies create comprehensive platform for drug design.
March 17, 2003... 2003 MAR 17 - (NewsRx.com & NewsRx.net) -- De Novo Pharmaceuticals, Ltd., (Cambridge, U.K.) and Roche announced the successful completion of their technology development collaboration with the creation of SkelGen II, a radically new...

Canadian researchers evaluate 7-valent pneumococcal conjugate vaccine.
March 17, 2003... 2003 MAR 17 - (NewsRx.com & NewsRx.net) -- A pharmacoeconomic evaluation of a 7-valent pneumococcal conjugate vaccine was conducted in Canada. "The objective of this study was to evaluate the projected health benefits, costs, and...

Pharmaceutical companies combine through "merger of equals" to form biotechnology leader.
March 17, 2003... 2003 MAR 17 - (NewsRx.com & NewsRx.net) -- NPS Pharmaceuticals, Inc., (NPSP) and Enzon Pharmaceuticals, Inc., (ENZN) announced that they have signed a definitive agreement to a merger of equals in a stock-for-stock transaction with a value of...

Lemley, Shanaman appointed to board of directors.
March 17, 2003... 2003 MAR 17 - (NewsRx.com & NewsRx.net) -- Zevex International, Inc., (ZVXI) announced that John T. Lemley and Richard L. Shanaman have been appointed to the company's board of directors, effective immediately. David J. McNally, chairman...

Forecast: Sales of antipsychotics and anticonvulsants to hit $2.6B in 2011.
March 17, 2003... 2003 MAR 17 - (NewsRx.com & NewsRx.net) -- Decision Resources, Inc., forecasts that sales of antipsychotics and anticonvulsants for the bipolar drug market will reach $2.6 billion in 2011; this figure will represent nearly 90% of the total...

Marine biotech business gets funding boost.
March 17, 2003... 2003 MAR 17 - (NewsRx.com & NewsRx.net) -- An Edinburgh-based marine biotech business has been given a UKP50,000 boost in its bid to scour tidal areas such as rock pools to find and develop new drugs and antibiotics, including a new compound...

$22M private equity financing announced for asthma drug maker.
March 17, 2003... 2003 MAR 17 - (NewsRx.com & NewsRx.net) -- BattellePharma, a privately held specialty pharmaceutical company conceived and incubated by Battelle Memorial Institute, announced it has completed a private placement of Series B Preferred Stock for...

Final results of issuer tender offer released.
March 17, 2003... 2003 MAR 17 - (NewsRx.com & NewsRx.net) -- Invivo Corporation (SAFE) announced the final results of its tender offer for up to 650,000 shares of its common stock at a purchase price of $15.00 per share, net to the seller in cash, without...

Fourth quarter earnings grow 32% for pharmaceutical company.
March 17, 2003... 2003 MAR 17 - (NewsRx.com & NewsRx.net) -- King Pharmaceuticals, Inc., (KG) announced that net earnings equaled $98.1 million for the fourth quarter ending December 31, 2002, up 32% from $74.1 million in the fourth quarter of 2001, excluding...

Ophthalmic solutions maker reports strong fourth quarter.
March 17, 2003... 2003 MAR 17 - (NewsRx.com & NewsRx.net) -- Alcon, Inc., (ACL) reported global sales of $749.2 million for the fourth quarter of 2002, an increase of 11.7% over sales in the fourth quarter of 2001, or 11.1% excluding the impact of foreign...

Pharmaceutical company announces 3-for-2 stock split.
March 17, 2003... 2003 MAR 17 - (NewsRx.com & NewsRx.net) -- Barr Laboratories, Inc., (BRL) announced that the company's board of directors has declared a 3-for-2 stock split. The stock split will be effected in the form of a 50% stock dividend to be...

Pharmaceutical company reports year end net losses of $0.96 per common share,.
March 17, 2003... 2003 MAR 17 - (NewsRx.com & NewsRx.net) -- Inspire Pharmaceuticals, Inc., (ISPH) reported financial results for the fourth quarter and year ended December 31, 2002. Total revenues in the fourth quarter of 2002 decreased to $1.1 million...

Pharma industry will see more franchise deals.
March 17, 2003... 2003 MAR 17 - (NewsRx.com & NewsRx.net) -- Franchise strategy will be an important driver of future pharma industry consolidation, according to Defined Health, a strategy consultancy to the pharmaceutical, biotech, and healthcare investment...

Pharmaceutical lifetime customer value: The Internet's role.
March 17, 2003... 2003 MAR 17 - (NewsRx.com & NewsRx.net) -- After decades of inability to directly reach patients, the pharmaceutical industry has turned to the Internet to solve its problem retaining customers, according to a report from intelligence firm...

Report indicates that brand teams need increased funding.
March 17, 2003... 2003 MAR 17 - (NewsRx.com & NewsRx.net) -- Only 47 new drugs hit the market in 2002 - a third fewer than in 1997. With each drug carrying more weight, and more expectations, companies that starve potential blockbusters are making terrible...

Company reports record sales for 2002.
March 17, 2003... 2003 MAR 17 - (NewsRx.com & NewsRx.net) -- Nabi Biopharmaceuticals (NABI) announced its financial results for the year and fourth quarter ended December 28, 2002. The company reported net income of $2.1 million for the year ended December...

Robert J. Morff, PhD, becomes president and CEO.
March 17, 2003... 2003 MAR 17 - (NewsRx.com & NewsRx.net) -- Ondine Biopharma Corp. announced that, effective January 1, 2003, Robert J. Morff, PhD, has joined the company as its president and CEO. Morff brings to Ondine his experience from a long and...

FDA approval granted for Lidocaine Jelly, 2% ANDA.
March 17, 2003... 2003 MAR 17 - (NewsRx.com & NewsRx.net) -- Akorn, Inc., (AKRN) announced that the company has received approval from the U.S. Food and Drug Administration for its Abbreviated New Drug Application for Lidocaine Jelly, 2% (Lidocaine Jelly). ...

Monsanto spinoff reports fourth-quarter results.
March 17, 2003... 2003 MAR 17 - (NewsRx.com & NewsRx.net) -- Pharmacia Corp. (PHA) reported financial results for the fourth quarter ended December 31, 2002. Sales and continuing earnings reflect only the results of the pharmaceutical business following...

Japanese biotech establishes U.S. antibody business.
March 17, 2003... 2003 MAR 17 - (NewsRx.com & NewsRx.net) -- Kyowa Hakko Kogyo Co., Ltd., a leading Japanese biotechnology and pharmaceutical company, announced that it has established BioWa, Inc., in the U.S. to pursue development and commercialization of its...

Phase I safety trial of MX-1094 completed.
March 24, 2003... 2003 MAR 24 - (NewsRx.com & NewsRx.net) -- Medinox, Inc., announced the completion of a phase I safety trial in Europe of MX-1094, a nonsteroidal anti-inflammatory prodrug (NSAID) in development for the treatment of arthritis. The trial...

U.S. Army grant issued for prostate cancer research project.
March 24, 2003... 2003 MAR 24 - (NewsRx.com & NewsRx.net) -- Cellegy Pharmaceuticals, Inc., (CLGY) announced that Charles Graham, a researcher at Queen's University, Ontario, Canada, will lead a Queen's group of investigators that include Robert Siemens...

Eshelman commits $20 million to UNC; largest gift ever to U.S. pharmacy school.
March 24, 2003... 2003 MAR 24 - (NewsRx.com & NewsRx.net) -- Dr. Fred Eshelman of Wilmington, North Carolina, has committed $20 million to the University of North Carolina (UNC) at Chapel Hill's School of Pharmacy. The gift, announced February 26, 2003, at a...

Treatment reduces signs of disease progression in patients with chronic disease.
March 24, 2003... 2003 MAR 24 - (NewsRx.com & NewsRx.net) -- Gilead Sciences (GILD) has announced the publication of results from two studies evaluating the safety and efficacy of Hepsera (adefovir dipivoxil 10 mg), Gilead's once-daily oral antiviral for the...

Clinical trials initiated to explore use of Humira.
March 24, 2003... 2003 MAR 24 - (NewsRx.com & NewsRx.net) -- Abbott Laboratories (ABT) announced the expansion of its immunology clinical trials program to include studies evaluating the potential of Humira (adalimumab) in psoriasis and psoriatic arthritis. ...

Garland named chief financial officer.
March 24, 2003... 2003 MAR 24 - (NewsRx.com & NewsRx.net) -- Amarin Corporation plc (AMRN) announced the appointment of Ian Garland as chief financial officer effective immediately. Garland will also serve as a member of the company's executive committee...

Metadate CD now available in 100-count bottle.
March 24, 2003... 2003 MAR 24 - (NewsRx.com & NewsRx.net) -- Celltech Pharmaceuticals, Inc., announced the introduction of once-daily Metadate CD (methylphenidate HCl, USP) Extended-Release Capsules (CII) 20 mg in a new, convenient 100-count bottle. ...

Pharmacogenomics companies establish partnership.
March 24, 2003... 2003 MAR 24 - (NewsRx.com & NewsRx.net) -- Gentris Corporation has established a partnership with Sankyo Pharma, Inc., the U.S. subsidiary of Sankyo Co., Ltd. The partnership is a creative and far reaching agreement that will further both...

Pharmaceutical company reports net loss of $0.86 per share.
March 24, 2003... 2003 MAR 24 - (NewsRx.com & NewsRx.net) -- ISTA Pharmaceuticals, Inc., (ISTA), reported financial results for the quarter and year ended December 31, 2002. ISTA reported a net loss of $6.1 million, or $0.86 per share, for the quarter ended...

Court of Appeals hears arguments on judgment against Roche Diagnostics.
March 24, 2003... 2003 MAR 24 - (NewsRx.com & NewsRx.net) -- Igen International, Inc., (Igen) announced that the U. S. Court of Appeals for the Fourth Circuit based in Richmond, Virginia, heard oral arguments on the appeal by Roche Diagnostics, a division of F....

Paxil patent ruling issued.
March 24, 2003... 2003 MAR 24 - (NewsRx.com & NewsRx.net) -- GlaxoSmithKline (GSK) announced that a federal judge for the United States District Court for the Northern District of Illinois has ruled in GSK's litigation with TorPharm Pharmaceuticals (a wholly...

Biotech slips again in February as war preparations intensify.
March 24, 2003... 2003 MAR 24 - (NewsRx.com & NewsRx.net) -- "With the nation on the brink of war and the capital markets held hostage to the concerns surrounding the invasion and the aftermath, investors remained stand-offish in February... and even though...

Emerging anti-obesity drugs estimated to generate $510M by 2008.
March 24, 2003... 2003 MAR 24 - (NewsRx.com & NewsRx.net) -- Front Line Strategic Consulting, Inc., announced the completion of its new Strategic Market Report, "Emerging Anti-Obesity Therapeutics." Front Line's report includes an in-depth analysis of...

New biotech website announced.
March 24, 2003... 2003 MAR 24 - (NewsRx.com & NewsRx.net) -- BiotechWatch LLC announced the launch of its new corporate website. The redesigned site provides access to BiotechWatch's fully searchable databases as well as the ability to purchase its company...

Pharmaceutical companies increase market research resources.
March 24, 2003... 2003 MAR 24 - (NewsRx.com & NewsRx.net) -- Pharmaceutical brand teams spend between $2 billion and $12 billion per product on market research activities to support launch initiatives, according to a new report by pharmaceutical intelligence...

Promising botulinum toxin markets in the United States attract new participants.
March 24, 2003... 2003 MAR 24 - (NewsRx.com & NewsRx.net) -- Off-label sales of botulinum toxin, already a major revenue driver for this market, are expected to significantly increase in under-treated disease states such as pain management, spasticity, and focal...

Interim data to be presented on phase IIb study in HIV/AIDS.
March 31, 2003... 2003 MAR 31 - (NewsRx.com & NewsRx.net) -- Hemispherx Biopharma, Inc., (HEB) announced that the company will be giving an oral presentation of its new interim clinical data regarding its phase IIb Trial for HIV/AIDS (labeled Structured...

FDA grants priority review for Velcade.
March 31, 2003... 2003 MAR 31 - (NewsRx.com & NewsRx.net) -- Millennium Pharmaceuticals, Inc. (MLNM) has announced that the U.S. Food and Drug Administration (FDA) accepted for review and granted Priority Review designation of the company's New Drug Application...

Pharmaceutical companies continue increasing biotechnology investments.
March 31, 2003... 2003 MAR 31 - (NewsRx.com & NewsRx.net) -- Pharmaceutical powerhouses, such as GlaxoSmithKline, have expanded their pipelines to replace billion-dollar products by investing in promising drugs from outside their companies' development groups....

Lifetime customer value: Report reveals new compliance strategies.
March 31, 2003... 2003 MAR 31 - (NewsRx.com & NewsRx.net) -- Pharmaceutical companies face a crisis of compliance: Up to 20% of initial prescriptions go unfilled and patients abandon at least 30% of refills. Disease management programs position companies to...

Roth joins board of directors.
March 31, 2003... 2003 MAR 31 - (NewsRx.com & NewsRx.net) -- Chiral Quest, Inc., (CQST) announced that Stephen Roth, PhD, cofounder, and current chairman of the board of Neose Technologies joined the board of directors of Chiral Quest. Stephen Roth...

Silvernail added to senior management team.
March 31, 2003... 2003 MAR 31 - (NewsRx.com & NewsRx.net) -- ISTA Pharmaceuticals, Inc., (ISTA) announced that Lauren P. Silvernail will join the company as its chief financial officer and vice president of Corporate Development as of mid-March 2003. In her...

Financial analysts, money managers hear after-market presentation.
March 31, 2003... 2003 MAR 31 - (NewsRx.com & NewsRx.net) -- Antares Pharma, Inc., (ANTR), in an after-market presentation before the Financial Analysts and Money Managers Society of New York, reported that revenues for 2002 reached approximately $4.0 million,...

U.S., international photonics business sale complete; financial results reported.
March 31, 2003... 2003 MAR 31 - (NewsRx.com & NewsRx.net) -- ICN Pharmaceuticals, Inc., (ICN) announced the divestiture of its U.S. and international photonics businesses. The divestitures were completed as a part of the company's previously announced plans...

AZT patent case dismissed.
March 31, 2003... 2003 MAR 31 - (NewsRx.com & NewsRx.net) -- AIDS Healthcare Foundation (AHF) released the following statement from AHF president Michael Weinstein regarding the non-profit agency's lawsuit challenging patent rights to AZT held by British...

Major expansion initiated to increase pharmaceutical sales.
March 31, 2003... 2003 MAR 31 - (NewsRx.com & NewsRx.net) -- Eisai, Inc., a U.S. pharmaceutical subsidiary of Tokyo-based Eisai Co., Ltd., announced that it is strengthening its national sales force by adding an additional 150 sales representatives. The...

Sublicense income received for antisense chemistry.
March 31, 2003... 2003 MAR 31 - (NewsRx.com & NewsRx.net) -- Hybridon (HYBN.OB) announced the receipt of patent sublicense income from Isis Pharmaceuticals, Inc., (ISIS). This payment is due to Hybridon from Isis as a result of license agreements recently...

Priority Healthcare and AdvancePCS announce restructuring of agreement.
March 31, 2003... 2003 MAR 31 - (NewsRx.com & NewsRx.net) -- Priority Healthcare Corp. (PHCC), a national specialty pharmacy and distribution company, and AdvancePCS (ADVP), a health-improvement company, announced a restructuring of their specialty pharmacy...

Pharmaceutical company reports 2002 results, secures additional funds.
March 31, 2003... 2003 MAR 31 - (NewsRx.com & NewsRx.net) -- Pharmos Corp. (PARS) reported financial results for the 12 months ended December 31, 2002. The company recorded a net loss of $17,070,000, or $0.30 per share, in 2002 compared to a net income of...