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Jan 22, 2008

Teva Plans to Acquire CoGenesys for $400M to Advance in the Biogenerics Field

  • Teva Pharmaceutical agreed to acquire CoGenesys for $400 million cash. Teva says that the purchase is an important springboard in the company’s efforts to become a leading player in the biogenerics market.

    “Biopharmaceuticals will be a long-term growth driver for Teva,” remarks Shlomo Yanai, Teva’s president and CEO. “CoGenesys’ acquisition reflects our commitment to capture the significant long-term prospects we believe the biogenerics market will offer.

    “CoGenesys’ breadth of technologies and the depth of their team and pipeline complement Teva’s large-scale operations, extensive resources, and its proven expertise in bringing drugs to market,” Yanai continues. “This combination will enable us to realize our vision of delivering high-quality, affordable biopharmaceuticals worldwide.”

    The transaction is expected to close during the first half of 2008.



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Scientifically Studying Ecstasy

MDMA (commonly known as the empathogen “ecstasy”) is classified as a Schedule 1 drug, which is reserved for compounds with no accepted medical use and a high abuse potential. Two researchers from Stanford, however, call for a rigorous scientific exploration of MDMA's effects to identify precisely how the drug works, the data from which could be used to develop therapeutic compounds.

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