Word: astrazeneca
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...enter into the vaccines market and strengthen its foothold in future drug sales, British pharmaceutical company AstraZeneca is snapping up MedImmune of Gaithersburg, Md., for a cool $15.6 billion...
...latest development to come down London--based AstraZeneca's pipeline is David Brennan, 51, who will take over as CEO from Scotsman Sir Tom McKillop. The American's marketing skills in his previous slot helped turn potions like antiulcer Nexium into blockbusters in North America. Astra's surprisingly strong second quarter quieted some grumbling among shareholders about failed new products and other pipeline issues. Upcoming drugs to treat diabetes and cancer could help Brennan meet analysts' optimistic projections. --L.T.C...
...technique revealed that a chemical was binding to a protein that is a possible cause of Alzheimer's disease. The chemical was a fragment of what could eventually become an Alzheimer's-conquering drug. "I first thought the team had played a trick on me," says Jhoti. Drug giant AstraZeneca, which had been searching for such a chemical for years, enlisted Astex's help. In 2003 the company signed a contract to pay Astex $40 million if Astex hits milestone breakthroughs and to make royalty payments once AstraZeneca sells drugs based on Astex's technology. "AstraZeneca worked...
...these tech pioneers are, and as brilliant as their breakthroughs are, the R.-and-D.-reliant business of biotech is still very difficult. While the companies are developing processes and drugs, they survive on venture financing and funding from larger partners, often provided when they hit milestones. Payments from AstraZeneca and other partners have boosted Astex's revenues 170% annually since 2000, and Astex has raised $100 million in venture financing. Raven has raised $66 million and hopes to land another $35 million soon. It also receives milestone payments from Abbott Laboratories and others...
...called beta-secretase (Bace), which researchers had identified as a possible cause of Alzheimer's disease. The chemical was just a fragment of what could eventually become an Alzheimer's-conquering drug. But it represented a big step in the quest for a Bace-targeting substance, which drug giant AstraZeneca had been seeking for years; the firm enlisted Astex's help. "AstraZeneca worked on it for four years. We delivered an early drug candidate within a year of signing with them,'' says Jhoti, who is Astex's founder and chief scientist...