U.K. firm to use court in bid for Hyal assets

Article Abstract:

British pharmaceutical company SkyePharma PLC plans to use the bankruptcy court in order to make another bid to acquire financially-strapped Hyal Pharmaceutical Corp. SkyePharma plans to file a motion with the Ontario Superior Court seeking to put Hyal under receivership after the Mississippi-based company failed to repay a $750,000 loan from SkyePharma. An industry insider hailed the move as a smart strategy because SkyePharma, being a secured creditor of Hyal, will be the first to obtain Hyal's technology from the appointed receiver.

United Kingdom, Strategy & planning, SkyePharma PLC

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BioChem chief executive gets $1.7-million in record year

Article Abstract:

BioChem Pharma Inc CEO Francesco Bellini received C$1.7 million in 1998, when the company achieved a record profit and saw the introduction of Zeffix, an important drug for treating chronic hepatitis B. The figure was consisted of C$400,000 in bonus, C$800,000 in salary and C$505,760 in 'discretionary' bonus. In comparison, Bellini received C$1.5 million in 1997, consisting of C$740,000 in bonus and C$772,935 in salary.

Management development, Quebec, Shire BioChem Inc.

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