Friday, March 23, 2007

Esai - the biotech bonanza continues

Eisai, Japan's fourth-largest drugmaker, bought U.S. biotechnology company Morphotek Inc. for $325 million to gain potential new treatments for cancer.

Eisai announced the acquisition in a statement distributed to reporters in Tokyo on Thursday.

Morphotek is developing novel treatments that rely on the body's immune system to fight cancer, inflammation and infectious diseases, the Exton, Pennsylvania-based company said on its Web site.

More at Bloomberg

No comments: