SmithKline drops alliance with Vanguard on drugs
Article Abstract:
SmithKline Beecham PLC has abandoned a drug-development alliance with Vanguard Medica Ltd. of the UK, a biotechnology company. The two firms entered into a partnership five years ago to develop a potential migraine medicine whose generic name is frovatriptan. SmithKline, which discovered the drug, handed over clinical testing to Vanguard with a clause that enables it to regain marketing rights if development was a success. After Vanguard completed the clinical trials, SmithKline announced plans to file regulatory application for the drug in the US and Europe. However, SmithKline decided not to market the drug, said a company spokesman, as they have insufficient resources to commercialize the drug themselves.
Comment:
Biotechnology co's drug-development alliance with SmithKline Beecham PLC is abandoned by SmithKline
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Goldstein of SmithKline to head British biotech
Article Abstract:
British Biotech PLC selected 47-year-old pharmaceutical industry veteran Dr. Elliot Goldstein as the new CEO and succeed Keith McCullagh. McCullagh is stepping down from the firm's helm in the wake of difficulties in research programs and charges that sent the company stock declining. Goldstein will handle responsibilities of rebuilding the battered reputation of the firm with investors, but some analysts caution he may also attack costs more aggressively than his predecessor. Analysts added the new executive must still prove he can manage broad executive responsibilities and contracts with investors.
Comment:
Selects 47-year-old pharmaceutical industry veteran Dr Elliot Goldstein as the new CEO and succeed Keith McCullagh
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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AstraZeneca arrives ahead of schedule; merged drugs company will be world no. 3
Article Abstract:
United Kingdom's pharmaceuticals giant Zeneca Group PLC and Sweden's Astra AB have completed their $37.7 billion merger deal on time. The new merged company AstraZeneca PLC is poised to be world's third largest pharmaceutical company.
Comment:
Zeneca Group PLC and Astra AB complete merger on time.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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