Ariad, Merck forge $75m drug-development deal
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Cambridge cancer drug maker Ariad Pharmaceuticals Inc. signed a major deal with Merck &amp; Co. Inc. yesterday in which the global pharmaceutical giant will pay $75 million to collaborate on developing and selling Ariad's experimental drug to treat sarcomas, a type of tumor that attacks fat, muscle, and bone.
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The deal will settle claims that Merck overcharged Medicaid programs, and resolve charges over marketing.
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Shares of Biomira Inc., a Canadian drug developer, jumped 94 percent and Merck KGaA, Germany&#39;s fourth-largest drugmaker, rose as much as 6.4 percent after the companies said data from
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The pharmaceutical's net revenue jumps 77%.
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Merck agreed yesterday to pay more than $650 million to settle charges that it routinely overbilled the government for its most popular medicines, the arthritis drug Vioxx and the cholesterol drug Zocor, cheating Medicaid out of millions of dollars in discounts over eight years.
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The deal, which must be approved by regulators, will make the German group the number one generics company in Scandinavia, a growing market worth about 600m last year, according to Merck.
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Spectrum Pharmaceuticals SPPI.O said  on Friday U.S. regulators have approved its generic version of  Bayer's BAYG.DE  Cipro antibiotic, triggering a $750,000  equity investment by one of its partners.
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Ahura Scientific, Inc. today announced it has secured government contracts exceeding $3.75 million for advanced instrument development to occur during the next five years.
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The company teams up with AstraZeneca to bring its antibiotic to worldwide markets.
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Celera gets a contract to design a companion diagnostic test for Merck.
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TRENTON, NJ A Bay Area company is one of two drug companies that will join forces to work on a breakthrough pill to treat HIV infection.
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Biotechnology company Rigel  Pharmaceuticals Inc. RIGL.O has entered into a collaboration  pact with drugmaker Merck & Co. Inc. MRK.N to find treatments  for cancer and potentially other diseases, Rigel said on  Monday.
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Shares of Nastech Pharmaceutical Co. Inc. jumped as much as 43 percent on Monday after it said it formed an alliance with Merck & Co. to develop its appetite-regulating treatment for obesity.
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Danish biotech Genmab A/S on Tuesday signed a deal worth up to $2.1 billion with pharmaceutical company GlaxoSmithKline PLC for the global commercialization of a leukemia treatment.
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German drugmaker Merck KGaA   unveiled a surprise 16.6-billion-Swiss franc ($13.3  billion) deal to buy Swiss biotech firm Serono on Thursday,  creating a new force in European pharmaceuticals.
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The medicine is the first product of an innovative collaboration between a drug company and a medical charity.
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More than 3,000 former users of Merck & Co's  withdrawn Vioxx pain drug have already signed up to take part in a $4.85 billion settlement deal that a federal judge said on Friday was in the best interests of both sides.