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FTC Clears Millennium Acquisition of COR

NEW YORK, Jan. 18 - Federal regulators have cleared Millennium Pharmaceuticals' proposed acquisition of COR Therapeutics, the companies announced on Friday.

The US Federal Trade Commission has ended the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 on Jan. 14, giving the deal the green light.

The deal, which remains subject to a variety of customary closing conditions, will be voted on by shareholders from both firms on Feb. 12, the firms said.

As GenomeWeb reported, Millennium and COR announced their plans to merge on Dec. 6 in a deal that calls for Millennium to trade 0.9873 of its shares for each COR share and to issue a total of 58 million shares to COR shareholders.

When the deal was announced, it was worth an estimated $2 billion, and was the biggest proposed acquisition ever in the biotechnology industry. It was easily overshadowed by the proposed acquisition of Immunex by Amgen, announced late last year and valued at $16 billion in cash.

The Scan

US Booster Eligibility Decision

The US CDC director recommends that people at high risk of developing COVID-19 due to their jobs also be eligible for COVID-19 boosters, in addition to those 65 years old and older or with underlying medical conditions.

Arizona Bill Before Judge

The Arizona Daily Star reports that a judge is weighing whether a new Arizona law restricting abortion due to genetic conditions is a ban or a restriction.

Additional Genes

Wales is rolling out new genetic testing service for cancer patients, according to BBC News.

Science Papers Examine State of Human Genomic Research, Single-Cell Protein Quantification

In Science this week: a number of editorials and policy reports discuss advances in human genomic research, and more.