Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : ARADIGM CORP. ARDM -- Ignore unavailable to you. Want to Upgrade?

To: tuck who wrote (92)	12/15/2000 10:35:29 AM
From: Mark Bong	Read Replies (1) \| Respond to of 255

Tuck, Perhaps the merger has something to do with it. Dec 13,2000 Glaxo, SmithKline Expect Merger To Be Completed by End of Year A Wall Street Journal News Roundup LONDON -- Nearly a year after unveiling plans to merge, Glaxo Wellcome PLC and SmithKline Beecham PLC said they expect to complete the deal Dec. 27. Separately, SmithKline Beecham said it stopped testing its experimental drug Lotrafiban, designed to prevent recurrent strokes and heart attacks, after a surprising number of patients died while taking it. The 122 deaths are "totally unexplained," said Dr. Eric Topol from the Cleveland Clinic, who led the tests, according to the Associated Press. By comparison, 92 people who were taking a placebo as part of the two-year study died. The British drug groups said they have agreed to terms for clearance of the merger with the staff of the U.S. Federal Trade Commission, though they noted that there is no guarantee the commissioners themselves will approve the terms. The two companies said they don't expect to have to make any further divestitures beyond those previously announced. To appease the FTC, SmithKline Beecham has already agreed to sell the antiemetic product Kytril, which had sales of £208 million ($303 million) in 1999, as well as the antiviral products Famvir, with sales of £134 million, and Vectavir/Denavir, which had sales of £10 million. Glaxo and SmithKline hope to have FTC approval before they go before Britain's High Court a week from today to get what they hope will be final clearance to create GlaxoSmithKline. The merged entity would have £18 billion in annual sales and a £2.5 billion research-and-development budget. Commanding more than 7% of the global market, it would be the world's biggest pharmaceutical company by market share. The deal was approved by the European Commission in May and the merger was originally scheduled to be completed in the summer. But the FTC's questions about the combined companies' power in certain markets led to delays. An FTC spokesman declined to comment.