Pharma Roundup: ImClone a Done Deal, FDA Approvals Up, and More

ImClone deal finished — The deal between Eli Lilly and ImClone, which attracted so much attention earlier this autumn, is finally closing. Lilly said the deal will be formally complete on Monday. [Source: WSJ Health Blog]

FDA has already approved more compounds this year than last — 20 compounds have successfully completed FDA review this year to date, and the total for all of 2007 was just 18. The news is somewhat surprising, given the constant headlines about approval delays at the agency. [Source: The In Vivo Blog]

Nitromed and Archemix merge– Nitromed has run into financial problems since getting a drug approved for market, but still has public stock. Archemix is an up-and-coming organization for which an IPO could be fruitful, especially if the economic climate were friendlier. The two companies have merged, however, taking the developing product line of Archemix and coupling it with a stock market listing. It sounds like a smart move for both parties in this tumultuous economy. [Source: In The Pipeline]