Endo announces acquisition of Indevus Pharmaceuticals
CHADDS FORD, Pa. Endo Pharmaceuticals has marked the beginning of 2009 with an announcement that it will acquire Indevus Pharmaceuticals.
The Chadds Ford, Pa.-based drug maker made the announcement in a statement Monday. The acquisition deal, worth about $370 million, will allow Endo to diversify out of its focus on pain medications; Indevus specializes in urology and endocrinology drugs.
“This merger reflects our desire to expand our business beyond pain management into complementary medical areas where we can be innovative and competitive,” Endo president and CEO David Holveck said. “We believe this expansion of our product line has significant growth potential because of the therapeutic value of the Indevus product portfolio, the unique expertise of both companies and the demographic, healthcare and reimbursement trends that favor the consideration of new products to address unmet needs in urology and endocrinology.”
In addition to the $370 million payment, Endo may also pay up to $267 million in regulatory and sales milestones.
According to Forbes magazine, the merger is the first acquisition deal of the year. On Monday, Pfizer chief executive officer Jeff Kindler told The Financial Times that the large drug maker would also be open to large-scale mergers and acquisitions.
Researchers test administering medication using nanotechnology, gold
NEW YORK Researchers have developed a way to use tiny particles of gold to control the administration of drugs for diseases such as cancer, according to a study published in the journal ACS Nano.
The researchers, at the Massachusetts Institute of Technology, created a device that shines infrared light on particles of gold coated with medicine.
The particles vary in size, causing them to melt at different rates depending on the intensity of the light.
The researchers said the device would allow medicine to target specific areas of the body at specific rates, thus minimizing damage to healthy tissue.
N.J. tests new law requiring vaccinations for school-age children
TRENTON, N.J. New Jersey will find out this week if its new law requiring flu vaccinations for schoolchildren has worked, according to published reports.
The state is the first in the country to require schoolchildren to receive flu vaccinations, between the ages of 6 months and 5 years. It required the children to receive the vaccinations by Dec. 31. Children who have not been vaccinated will not be allowed to attend school.