Montco firm working to prevent HIV is sold: A Calif. biotech will spend $30 million for Biosyn Inc, which has a gel to fight AIDS in late-stage clinical trials

Article Abstract:

Cellegy Pharmaceuticals Inc. a California biotechnology companies plans to buy privately held Biosyn Inc, of Huntingdon Valley, in a deal valued at $30 million to acquire a contraceptive gel intended to prevent the transmission of HIV. Cellegy's officials state that Biosyn's product could be on the market by the end of 2007 and it would have a major importance in the developing world to stop the spread of AIDS.

Acquisitions & mergers, Mergers, acquisitions and divestments, Company acquisition/merger, Cellegy Pharmaceuticals Inc., Biosyn Inc., CLGY

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Good will: Drugmakers' gifts of cash and supplies have been miraculous, say relief workers

Article Abstract:

The outpouring of cash and supplies by corporations and pharmaceutical and health-care products companies after the tsunami disaster has surpassed donations to victims in any previous natural disaster. Health-care companies, which have announced donations totaling at least $72 million, are trying to improve their image after paltry earnings growth and doubts about drug safety.

Financial management, Other Justice, Public Order, and Safety Activities, Medical Instruments and Supplies, Disaster Aid, Disaster Relief & Insurance, Finance, Donations, Disaster relief, Company financing, Health products industry, Health care products industry

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