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Essay / Research Paper Abstract
This 8 page paper reports and discusses the recent deal between these two companies. AstraZeneca, a large pharmaceutical corporation, is buying 19.9 percent of Cambridge Antibody Technology, a small biotechnology firm. The essay reports the amounts involved and other particulars, the purpose of the alliance and the effect on share prices. The writer also discusses how each company benefits. Bibliography lists 8 sources.
Page Count:
8 pages (~225 words per page)
File: MM12_PGaszct.rtf
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Unformatted sample text from the term paper:
investment has been quoted as ?75 million (Bawden, 2004; Verdin, 2004). The deal is for the purpose of producing drugs that are based on human antibodies (Firn and Killgren,
2004). In other words, Cambridge Antibody Technologys drugs are based on the bodys own immune defenses (Bawden, 2004). Firn and Killgren explain: "These so-called magic bullets can target bacteria,
cancer cells and even the bodys own signals that cause inflammation and allergic responses" (2004). Verdin explains in more technical terms: "[the purpose of the alliance is to discover and
develop] human monoclonal antibody treatments, therapies which are based on boosting patients immune systems and are viewed as an increasingly promising area of research" (2004). Both companies have had
their share of problems in the recent past. Just a week ago, as investigations into the drug, Vioxx, continue, five other drugs have been placed on the suspect list, including
Crestor, AstraZenecas anti-cholesterol drug (Irving and Verdin, 2004). AstraZenecas stock plummeted by 10 percent, "wiping more than ?3.5 billion off the companys stock market value" (Irving and Verdin, 2004). It
was one person, a regulator with the U.S. Food and Drug Administration (FDA) that made the statement regarding five other drugs on his own (Irving and Verdin, 2004). The FDA
Administration tried to immediately distance itself from the regulators comments but the damage had already been done. The statement by the one FDA regulator had a similar effect on
the stock prices of every drug he mentioned, including GlaxoSmithKline, whose stock price dropped by 4 percent (Irving and Verdin, 2004). Cambridge Antibody Technology meanwhile has been involved in a
legal battle with Abbott Laboratories (Tait and Firn, 2004). The issue is royalties, and more specifically, the royalties Abbott owes Cambridge Antibody Technology (Tait and Firn, 2004). Abbott and Cambridge
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