December 12, 2005 - December 18, 2005

December 12th:

Merck & Co., Inc.: Hung Jury in First Federal VIOXX(R) Product Liability Trial

In a press release, Merck & Co., Inc. says it is disappointed a federal court jury in Houston, Texas could not return a verdict in Plunkett v. Merck and is prepared for a retrial, if that becomes necessary. "We presented evidence that there is no medical or scientific evidence showing short-term use of VIOXX increases the risk of heart attack and no evidence that it contributed in any way to the unfortunate death of Richard Irvin," said Philip Beck, of the law firm of Bartlit Beck, Merck's lead trial lawyer in the case. "Mr. Irvin only took VIOXX for less than a month. He suffered multiple long-standing risk factors for a heart attack including partially clogged arteries. We believe that Mr. Irvin would have suffered a heart attack when he did, whether he was taking VIOXX or not."

December 13th:

FDA staff seeks more info on Merck rotavirus vaccine

FDA needs more information from Merck & Co. Inc. before they can finish reviewing the effectiveness of an experimental vaccine to help prevent severe diarrhea in children, according to documents released on Tuesday. The oral vaccine against rotavirus appeared safe compared with a placebo, but long-term, post-approval studies of potential risks may warrant consideration, Food and Drug Administration staff wrote in a summary prepared for Wednesday's meeting of an agency advisory panel.

GlaxoSmithKline And Vertex Pharmaceuticals Incorporated Announce New Collaboration To Develop And Commercialize VX-409, A Novel Compound For The Treatment Of Pain

GlaxoSmithKline and Vertex Pharmaceuticals Incorporated announced that they have entered into a new agreement to develop and commercialize VX-409, Vertex's novel, subtype selective sodium channel modulator for the treatment of pain. VX-409 is the first of a new class of agents targeting specific pain signals in nerve cells. Under the terms of the agreement, GSK will have the exclusive right and license to develop and commercialize VX-409 and back-up compounds worldwide. Vertex will receive a $20 million up-front payment and could receive up to an additional $385 million in development and sales threshold milestone payments based on the development of VX-409 and back-up compounds in major pharmaceutical markets across a range of indications. GSK will also pay Vertex royalties on annual net sales.

December 15th:

Amgen to Acquire Abgenix for $22.50 Per Share

Amgen , the world's largest biotechnology company, and Abgenix, Inc. , a company specializing in the discovery, development and manufacture of human therapeutic antibodies, today announced that they have signed a definitive merger agreement under which Amgen will acquire Abgenix for approximately $2.2 billion in cash plus the assumption of debt. Under the terms of the agreement, shareholders of Abgenix will receive $22.50 in cash per common share. The acquisition of Abgenix provides Amgen with full ownership of one of its most important advanced pipeline products, panitumumab. Working closely with Abgenix under a co-development agreement that Amgen assumed as a result of its acquisition of Immunex Corporation in 2002, Amgen has led the development and commercialization strategy for panitumumab.

Endologix Announces Limited Voluntary Recall of Powerlink System Delivery Catheter

Endologix, Inc. announced that it is voluntarily conducting a limited product recall of selected Powerlink(R) System delivery catheters marketed in the U.S. This action does not include the Powerlink stent grafts that have been implanted in patients. In addition, it does not include the large diameter 34 mm Powerlink System being evaluated under an investigational device exemption or Powerlink Systems sold outside of the U.S. Endologix has notified the U.S. Food and Drug Administration (FDA) Los Angeles District Office. Endologix is initiating this action as a result of its ongoing comprehensive analysis of three recent reports of tip separation from the catheter sheath inner core during procedures.

December 16th:

Novartis Corporation Halts Cholesterol Drug Development

Drug maker Novartis will book a $266-million charge in the fourth quarter after stopping clinical trials of an experimental statin or cholesterol-lowering drug, the company said on Friday. Test results had shown the compound, a lipid-lowering agent called NKS104, was no longer competitive enough for Novartis to warrant spending more money on bringing it to the market.

FDA Advisory Committee has Positive Opinion on Safety Of Zostavax(TM), Merck & Co., Inc. Investigational Vaccine For Shingles, In Adults Aged 60 And Older

Merck & Co., Inc. announced that the U.S. Food and Drug Administration's (FDA) Vaccines and Related Biological Products Advisory Committee agreed that the extensive data from clinical trials in more than 40,000 people support the efficacy and safety of ZOSTAVAX(TM) (zoster vaccine live (Oka/Merck)), the Company's investigational vaccine, to prevent shingles in adults aged 60 and over.

3M to Acquire Siemens Ultrasound's Flexible Circuit Manufacturing Operation

3M announced it has entered into an agreement to acquire the Siemens Ultrasound Division's flexible circuit manufacturing line in Canoga Park, Calif. The Siemens Ultrasound Division produces flexible interconnect circuits that provide electrical connections between components in electronics systems used primarily in the transducers of ultrasound machines. "Adding Siemens' flexible circuits expands 3M's business in the ultrasound and medical imaging markets," said Frank R. Little, division vice president, 3M Electronic Solutions Division. 3M Electronics provides flex circuits used in medical devices and diagnostics, printer, and cell phone applications, as well as many other products for the electronics industry.