Abbott/Synthetic Blood
Executive Summary
Abbott acquired 5% of Synthetic Blood's equity with the right to increase its equity position to 20% over the next eight months. Chicago-based Quixote Corp., a founding shareholder of Synthetic Blood, currently owns approximately 29% of the company and said it will invest more money in Synthetic Blood as Abbott increases its ownership to 20%. Synthetic Blood is developing a coacervate preparation as a possible substitute for whole blood. Quixote said Abbott and Synthetic Blood have an understanding "which may lead to further agreements with respect to the manufacture and marketing of Synthetic Blood products and drug delivery systems".
You may also be interested in...
Chinese Firms Up Their Game In Novel Flu Antiviral Development
Joincare Pharmaceutical and partner TaiGen Biotechnology tout preliminary Phase III results in uncomplicated acute influenza for TG-1000, a homegrown follower of Shionogi/Roche’s oral antiviral Xofluza. Novel antivirals for flu were hotly pursued by Chinese developers throughout 2023.
Quotable: Words Of Wisdom From Our Recent APAC Coverage
Scrip's APAC team selects notable quotes from recent interviews, conferences and other coverage to highlight the views of senior executives and officials on the major topics facing the biopharma sector in the region.
Generic Or Innovator? Sandoz Sues CMS Over Potential Change In Rebate Classification
Sandoz argued against paying higher rebates for two of its drugs via the Centers for Medicare and Medicaid Services’ Medicaid drug rebate program in a US court six years after the suggestion was first made.