It's not all bad out there for biotech. The Wall Street Journal's Health Blog lists five positive developments. Namely, Exelixis is getting $140 million from Sanofi-Aventis in exchange for licensing two experimental cancer drugs; MAP Pharmaceuticals has received promising results from a late-stage trial of a migraine drug; Amgen will pay $50 million to Cytokinetics for a heart-failure drug; Johnson & Johnson will buy Cougar Biotechnology for $894 million; and finally, after reporting positive results from its prostate cancer drug, Dendreon raised $221 million.
Ray of Sunlight
May 28, 2009