Pliva news from FierceBiotech

Iceland's generic drug maker Actavis has agreed to buy Abrika Pharmaceuticals in the U.S. for up to $238.5 million. Actavis will make an initial payment of $110 million in cash and up to $125 million based on its performance over the next three years. Actavis says the deal will make it a leader in the U.S. for controlled-release drugs. The Icelandic company recently lost a bidding war with Barr for Croatia's Pliva.

- here's the …

> Neurogen has paid $3 million as an initial licensing fee for Wyeth's Applindore. Wyeth had been developing Applindore as a treatment for schizophrenia, but Neurogen says it will focus on the drug as a treatment for Parkinson's disease. Report

> Pliva has obtained FDA approval to market a generic version of BMS' cholesterol …

Press Release: Barr's Subsidiary PLIVA Receives Approval for Pravastatin Tablets

> Ariad Pharmaceuticals is selling 3.1 million shares in a public offering. Report

> Indevus Pharmaceuticals has received a $10 million milestone payment from Esprit Pharma, the company's partner in the U.S. for Sanctura and and Sanctura XR. …

Barr Pharmaceuticals would appear to have won the battle for Croatia's Pliva with its announcement that it has acquired more than 70 percent of the drug maker's stock. Barr had been in a bidding war with Actavis for control of Pliva. If Barr completes the deal, which seems likely, it will create the world's third largest generic drug maker.

- Here's the article from the International Herald Tribune

> Daiichi Sankyo plans to invest $60 million into a $180 million, 10-year venture fund run by Kearney Venture Partners. The deal allows Daiichi to strike collaborations with the biotech companies who gain funds from the venture group. Release

> ImaRx Therapeutics has set the terms of its IPO of 5 million shares at $10 to $12 each. Much of the $49 million the company hopes to net will go to product development …

Iceland's Actavis has upped its bid to acquire Croatia's Pliva to $139 a share, surpassing the latest offer from Barr. But analysts say the bidding war isn't over yet. They're waiting to see how Barr reacts to this latest bid and many expect yet another higher bid to hit the table. The winner in the bidding war for Pliva will create the world's third largest generic drug maker, behind Teva and Novartis.

- see the AFX report on Actavis' bid

> Cell Therapeutics reported that more than half of the patients in a small Phase I dosing study of its cancer therapy Xyotax saw tumors shrink or disappear. Of 12 patients with cancer limited to a local region, four saw tumors disappear and seven had their tumors shrink by more than 50 percent. Report

> Wyeth says its encouraged by a recent decision by the FDA to cancel an advisory committee meeting to …

> TransPharma Medical, which is developing a new drug delivery technology, has raised $18 million in financing. Report

> Biogen Idec and Elan have re-released Tysabri for MS in the United States. Report

> Researchers are exploring the effectiveness of a combination of …

Pliva announced that the FDA had given it a green light to ship three pharmaceuticals from its Zagreb plant after the company took corrective action on the agency's May warning letter. Report