Company news: GlaxoSmithKline, Human Genome Sciences, FDA

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GlaxoSmithKline's $3.6-billion offer for Human Genome Sciences came with an added price. As first reported by the Washington Post, immediately upon the closing of its offer, several HGS board members resigned and were replaced with GSK executives. And immediately following the appointment of the GSK designees, "the HGS Board removed all of the executive officers of HGS," notes the tender offer statement GSK filed with the SEC.

The latest rates for the Medical Device User Fee Act are set -- the FDA published the new fee schedule Tuesday. The new rates will affect fiscal year 2013 and go into effect October 1. Fees will reboot October 1, 2013, upon the start of financial year 2014. MM&M reported in June that, unlike the pharmaceutical industry, which joined the talks over healthcare reform, the device industry cold-shouldered Capitol Hill. The excise tax is meant to raise $29 billion over a decade. The base fee for a pre-market application is $248,000 for financial year 2013, and business registration is $2,575.
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