Pharmaceuticals Instruments industry news provided by Financial News USA (OTC: FNWU). CytoDyn, Inc. (OTCBB:CYDY), a development stage biotechnology company, and UTEK Corporation, a specialty finance company focused on technology transfer, announced recently that CytoDyn has acquired Advanced Influenza Technologies, Inc. (AIT), a wholly owned subsidiary of UTEK, in a stock transaction. AIT holds the license for a DNA-based Influenza vaccine candidate developed at the University of Massachusetts Medical School in Worcester, MA. Eli Lilly and Company (NYSE: LLY) and Alcon, Inc. recently announced that they have signed a long-term agreement to co-promote ruboxistaurin mesylate (proposed brand name, Arxxant (TM), pronounced ark-ZONT) in the U.S. and Puerto Rico. Arxxant is an investigational oral drug for the treatment of moderate to severe nonproliferative diabetic retinopathy, a diabetic eye disease.
Abbott Molecular (NYSE:ABT) will preview its new automated molecular diagnostics system, the m2000(TM), at the annual meeting of the American Association for Clinical Chemistry (AACC) in Chicago (July 23-27). The m2000 is based on real-time polymerase chain reaction (PCR) technology for detecting and monitoring infectious diseases and is designed to provide clinical laboratories a unique system that fully automates all of the complex and heavily manual steps often associated with molecular diagnostics.
The Department of Health and Human Services said Thursday it awarded a $16.8 million contract to U.K. drug maker GlaxoSmithKline PLC (NYSE:GSK) to provide its antiviral drug Relenza to all 50 states, the District of Columbia, and U.S. territories. The two-year contract allows 59 jurisdictions to purchase, at a federally negotiated price, up to 15.5 million antiviral treatments and receive a 25 percent federal subsidy.
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