Local News

• Bristol-Myers Squibb comments on Eli Lilly as new Erbitux marketing partner  Eli Lilly and Company announced that it will acquire ImClone Systems for $70 per share, or approximately $6.5 billion. Bristol-Myers Squibb Company currently owns approximately 16.6 percent of all outstanding shares of ImClone.
  Bristol-Myers Squibb Company October 06, 2008  
• Rifaximin demonstrates highly statistically significant results in prevention of HE  Salix Pharmaceuticals announced the successful completion and outcome of its pivotal Phase 3 trial to evaluate the efficacy, safety and tolerability of rifaximin in preventing hepatic encephalopathy, or HE.
  Salix Pharmaceuticals, Ltd. October 06, 2008  
• Lilly to acquire ImClone Systems in $6.5 billion transaction  Eli Lilly and Company and ImClone Systems announced that the boards of directors of both companies have approved a definitive merger agreement under which Lilly will acquire ImClone through an all cash tender offer of $70.00 per share, or approximately $6.5 billion.
  ImClone Systems Inc. October 06, 2008  
• Covance and Lilly finalize 10-year, $1.6 billion strategic R&D collaboration  Covance announced that it has closed its transaction with Eli Lilly and Company to provide a broad-range of drug development services over the next ten years and to purchase Lilly's 450-acre early drug development campus in Greenfield, Indiana.
  Covance Inc. October 03, 2008  
• Lilly and Deciphera Pharmaceuticals announce licensing and collaboration agreement  Eli Lilly and Company and privately-held Deciphera Pharmaceuticals announced that the two companies have entered into a collaboration and worldwide licensing agreement related to Deciphera's preclinical B-Raf kinase inhibitor program for the study of potential oncology therapeutics.
  Eli Lilly and Company October 03, 2008  
• Genentech, Glycart and Roche enter into collaboration for potential cancer therapy  Genentech, GlycArt, a company wholly-owned by Roche, and Roche have entered into a collaboration agreement, including a license from GlycArt to Genentech, for the joint development and commercialization of GlycArt's GA101 molecule.
  Genentech, Inc. October 02, 2008  
• Monsanto increases 2008 earnings-per-share guidance  Monsanto Company raised its fiscal year 2008 earnings-per-share (EPS) guidance again, citing a strong conclusion to the fiscal year from its Roundup and other glyphosate-related herbicide business paired with the previously announced better-than-anticipated seeds-and-traits performance.
  Monsanto Company October 02, 2008  
• Monsanto completes sale of POSILAC bovine somatotropin and related business  Monsanto announced that it has completed the sale of its POSILAC(R) bovine somatotropin brand and related business to Eli Lilly and Company. Lilly purchased assets and liabilities of Monsanto associated with the POSILAC brand and related business for an upfront payment of $300 million.
  Monsanto Company October 02, 2008  
• Merck discontinues sevelopment of investigational medicine taranabant for obesity  Merck & Co. will not seek regulatory approval for taranabant, an investigational medicine, to treat obesity and is discontinuing its Phase III clinical development program for taranabant for obesity.
  Merck & Co., Inc. October 02, 2008  
• Lilly holds talks with ImClone for potential bid  Eli Lilly is in talks with ImClone Systems about buying the maker of the cancer-fighting drug Erbitux for $6.1 billion, a person briefed on the matter said. The talks for a potential $70-a-share bid would seek to derail a hostile $4.7 billion offer from Bristol-Myers Squibb.
  The New York Times October 01, 2008  

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