Deadline for Pfizer’s tender offer for King extended
NEW YORK Pfizer has extended the deadline of its $3.6 billion offer to buy King Pharmaceuticals, Pfizer said Monday.
Pfizer said it had extended its tender offer to Dec. 17 because certain conditions had not been met, but the two companies plan to have it finished by the end of this year or the beginning of next year.
King, based in Bristol, Tenn., specializes in branded opioid prescription painkillers.
Subs keeps up with urban trend
NEW YORK — A new urban fashion accessory has hit the market.
Hatch Ventures recently introduced Subs, designed for consumers who wear baggy pants well below the waistline. Like traditional suspenders, Subs are designed to keep pants from falling down by cinching around the waist and are worn underneath a shirt. The wearer can control how long they want their pants to "sag," and prevent pants from falling any lower.
Subs carry a suggested retail price of $34.95 and currently are available on Hatch Ventures’ website, HatchVentures.com.
Amgen’s Xgeva receives FDA approval
SILVER SPRING, Md. — The Food and Drug Administration has approved a treatment for preventing skeletal injuries in patients whose cancer has spread to the bone.
The FDA announced Friday the approval of Thousand Oaks, Calif.-based biotech company Amgen’s Xgeva (denosumab) for bone metastases.
The drug is a monoclonal antibody that targets RANKL, a protein involved in the destruction of bones in patients with cancer. Other treatments for similar conditions include Novartis’ drugs Zometa (zoledronic acid) and Aredia (pamidronate disodium).
“Bone metastases represent a major cause of pain and suffering in patients with cancer and can affect a patient’s quality of life,” FDA Office of Oncology Drug Products director Richard Pazdur said. “Xgeva has a different mechanism of action than currently approved drugs aimed at reducing bone complications from cancer.”