December 12, 2006
Company news from the 12/12/06 news brief
GlaxoSmithKline (GSK) has entered into an agreement to acquire UK developer of next generation of antibody therapies Domantis for $454 million in cash. Domantis, a privately owned company, will become part of GSK’s Biopharmaceuticals Centre of Excellence for Drug Discovery (CEDD) while continuing to operate from laboratories in Cambridge, UK. The acquisition agreement is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act and is expected to complete in January, GSK said. Pfizer said the Canadian Federal Court in Toronto has granted its application for an order preventing Novopharm from launching a generic version of Lipitor until expiration of the product's patent in July 2010. The decision is subject to appeal. “This is yet another decision recognizing the protection of the intellectual property supporting Lipitor,” said Pfizer General Counsel Allen Waxman is a company statement. “Patents like this one provide the incentive to develop new, lifesaving medicines that benefit millions of patients globally and Pfizer will continue to vigorously defend its intellectual property rights wherever they are challenged.” Abbott and Enanta Pharmaceuticals have signed a worldwide agreement to develop and commercialize hepatitis C virus (HCV) NS3 and NS3/4A protease inhibitors. Under the terms of the agreement, Abbott gains worldwide access to Enanta's intellectual property position for a variety of different types of compounds, including issued US patents. Upon closing, Enanta will receive an upfront payment of $57 million, which includes a cash payment and an equity investment. If all potential clinical and regulatory milestones are met, additional payments of up to $250 million will be made to Enanta.