American Home Sets $1.25 Billion Deal

Important note: Information in this article was accurate in 1996. The state of the art may have changed since the publication date.

American Home Sets $1.25 Billion Deal

Wall Street Journal (12/18/96) P. A3
Langreth, Robert; Hirsch, James S.

Abstract: American Home Products has announced that it will exercise an option to purchase the 40 percent stake it does not already own of Genetics Institute for $1.25 billion. The drug maker is paying a premium of $85 a share for the smaller biotechnology firm, but it will, in turn, benefit from Genetic Institute's promising research pipeline. The biotechnology company became even more appealing last week, after an FDA advisory panel recommended approval of its BeneFix, a recombinant hemophilia B treatment which--if approved--would be the first coagulation protein-replacement therapy available to hemophilia B patients that does not rely on human plasma. Furthermore, Genetics Institute is also in the final phases of testing Neumega, a drug designed to boost blood-platelet levels in chemotherapy patients. Related Stories: New York Times (12/18) P. D5; Washington Post (12/18) P. C14

961218
AD962398

Copyright © 1996 - Information, Inc., Bethesda, MD. The CDC National Center for HIV, STD and TB Prevention provides the following information as a public service only. Providing synopses of key scientific articles and lay media reports on HIV/AIDS, other sexually transmitted diseases and tuberculosis does not constitute CDC endorsement. This daily update also includes information from CDC and other government agencies, such as background on Morbidity and Mortality Weekly Report (MMWR) articles, fact sheets, press releases and announcements. Reproduction of this text is encouraged; however, copies may not be sold, and the CDC HIV/STD/TB Prevention News Update should be cited as the source of the information. Contact the sources of the articles abstracted below for full texts of the articles.

AEGiS is a 501(c)3, not-for-profit, tax-exempt, educational corporation. AEGiS is made possible through unrestricted funding from Boehringer Ingelheim, Bridgestone/Firestone Charitable Trust, Elton John AIDS Foundation, the National Library of Medicine, AIDS Walk of Orange County, and donations from users like you.

Always watch for outdated information. This article first appeared in 1996. This material is designed to support, not replace, the relationship that exists between you and your doctor.

AEGiS presents published material, reprinted with permission and neither endorses nor opposes any material. All information contained on this website, including information relating to health conditions, products, and treatments, is for informational purposes only. It is often presented in summary or aggregate form. It is not meant to be a substitute for the advice provided by your own physician or other medical professionals. Always discuss treatment options with a doctor who specializes in treating HIV.

Copyright ©1980, 1996. AEGiS. All materials appearing on AEGiS are protected by copyright as a collective work or compilation under U.S. copyright and other laws and are the property of AEGiS, or the party credited as the provider of the content.