October 16, 2006 |
Fourth-generation farmer Greg Massa was in the middle of the rice harvest and he was dirty, angry and depressed. The price of the gasoline that powers his water pumps and rice harvester has never been more expensive. A late planting season, hot summer and rising expenses had ensured a less-than-stellar harvest, with the U.S. Department of Agriculture forecasting a 13% drop compared with last year.
September 30, 2006 |
Biotechnology company Amgen Inc. said Friday that it would buy privately held Avidia Inc. for $290 million in cash and additional milestone payments. Avidia, a biopharmaceutical company, is developing a class of therapeutics called Avimer proteins. The deal gives Thousand Oaks-based Amgen a lead product candidate for the treatment of inflammation and autoimmune diseases, currently in early stage clinical trials.
September 28, 2006 |
Amgen Inc. won U.S. approval of its cancer drug, Vectibix, marking the biotechnology company's entry into the $28-billion market for tumor-fighting medicines. The Food and Drug Administration cleared Vectibix as a treatment for advanced colon cancer, the agency said Wednesday in a statement. Vectibix, also known as panitumumab, is the first from a lineup of more than half a dozen cancer drugs under development at Thousand Oaks-based Amgen, the world's largest biotechnology company.
July 24, 2006 |
In a sneak peek of what could be fashion's future, leggy models draped in dresses by designers such as Oscar de la Renta and Versace strut their stuff on the runway. But this is no Paris or New York fashion show. Rather, the scene is a Toronto biotechnology conference and the dresses are made from a new fiber called Ingeo, made largely from genetically engineered corn.
April 19, 2006 |
Amgen Inc. on Tuesday posted a $1-billion profit for the first quarter, a 14% increase driven by strong demand for its anemia-fighting drugs. The biotechnology company, the world's biggest by sales, said it earned 82 cents a share in the quarter ended March 31, compared with $854 million, or 67 cents, a year earlier.
March 1, 2006 |
An Amgen Inc. drug that spurs the production of bone marrow cells didn't help repair cardiac tissue damaged by heart attacks or hasten patient recovery, a study found. Researchers in Germany used Thousand Oaks-based Amgen's Neupogen in a technique that in previous studies had improved the cardiac function of heart attack patients. The latest study compared patients who received the drug to those who didn't.
June 23, 2005 |
Faced with patent expirations on highly profitable drugs, big pharmaceutical firms are turning to small biotechs to restock their medicine chests. The latest example came last week, when Pfizer Inc. agreed to buy Vicuron Pharmaceuticals Inc. for $1.9 billion. Vicuron, based in King of Prussia, Pa., worked on antibiotics and drugs for fungal infections, key areas for Pfizer. The acquisition followed one in April by GlaxoSmithKline, which agreed to buy Corixa Corp.
April 21, 2005 |
Genentech Inc. became the world's largest biotechnology company in terms of market value Wednesday, a distinction long held by rival Amgen Inc. Investors pushed Genentech's market value to $73.9 billion, past Amgen's $73.2 billion. Analysts said it was the first time Genentech had surpassed Amgen in market value since 1999, when Genentech reemerged as a public company. "I think this is fitting," said John McCamant, an editor of the Medical Technology Stock Letter.
December 21, 2004 |
England-based Cambridge Antibody Technology Group won a court ruling that awarded it higher royalties from U.S. partner Abbott Laboratories for its role in developing one of the biggest drugs to come from Britain's biotechnology industry. Cambridge Antibody claimed Abbott unfairly cut the royalties to pay other companies, including Genentech Inc., that held patents for techniques used to make Humira, a rheumatoid arthritis drug.
December 2, 2004 |
Genentech Inc. has licensed antibody technology from Xencor Inc., a small biotechnology company in Monrovia, to develop next-generation versions of Genentech's cancer drugs Rituxan and Herceptin. Genentech, based in South San Francisco, will pay Xencor a $5-million fee and annual licensing fees. The smaller company is eligible for undisclosed milestone payments and royalties. Xencor is a Caltech spinoff working on drugs for rheumatoid arthritis and other diseases.