Boston pensioners move to block Lilly’s acquisition of ImClone
NEW YORK After outbidding Bristol-Myers Squibb, Eli Lilly faces another challenge to its acquisition of ImClone, except this one is legal rather than monetary.
The State-Boston Retirement System of Massachusetts, a pension plan, has sued the Indianapolis-based drug maker, alleging that the $6.5 billion deal is unfair to ImClone’s shareholders.
The pension plan filed the lawsuit in the New York State Supreme Court on Wednesday, alleging that ImClone prevented other offers and did not provide stockholders with necessary information on the merger.
Rheumatoid arthritis drugs don’t affect cancer risk, researchers find
CHICAGO Spanish researchers have found that drugs for rheumatoid arthritis called TNF blockers don’t appear to increase the risk of cancer, the researchers announced Saturday.
The drugs block a protein called the tumor necrosis factor, which is part of the immune system and is linked to arthritic inflammation. Some studies have shown that they increase the risk of cancer because they suppress the immune system, but the researchers did not find a statistical difference between the two groups of patients studied.
The research included one group of 4,500 people who took TNF blockers between 2001 and 2007, and another that included data from between 1999 and 2005 from almost 800 people who did not take the drugs.
FDA approves Barr extended-cycle oral contraceptive
MONTVALE, N.J. The Food and Drug Administration has approved a Barr Pharmaceuticals subsidiary’s application for a new oral contraceptive, Barr said Monday.
The FDA approved Duramed Pharmaceuticals’ drug LoSeasonique (levonorgestrel/ethinyl estradiol tablets and ethynyl estradiol tablets).
Barr said the drug is the first lower-dose, extended-cycle oral contraceptive. Under the extended-cycle regimen, women take combination tablets containing 0.1 mg of levonorgestrel and 0.02 mg of ethinyl estradiol for 84 consecutive days, followed by tablets containing 0.01 mg of ethinyl estradiol for seven days. The regimen is designed to reduce the number of withdrawal bleeding periods from 13 to four per year.
“As a leader in women’s health, Duramed is committed to continuing to develop new products that provide women a choice as they discuss birth control options with their healthcare providers,” Duramed chief executive officer Fred Wilkinson said.