Exxon and Rosneft TEAM UP and This Dow Player is Making Moves
Pfizer Inc. (NYSE:PFE) and Protalix BioTherapeutics (AMEX:PLX) report that the Committee for Medicinal Products for Human Use, or CHMP, which is a part of the European Medicines Agency, or EMA, has adopted an opinion that recommends against the Marketing Authorization of taliglucerase alfa, which is an enzyme replacement therapy for the treatment of Gaucher disease. As part of its opinion, the CHMP provided a positive risk-benefit assessment for taliglucerase alfa, which stated that the benefits of the medicine surpassed its risks in the treatment of Type 1 Gaucher disease. However, in the face of the positive risk-benefit assessment, the Committee could not recommend Marketing Authorization due to Shire’s (NASDAQ:SHPGY) velaglucerase alfa, which had already received Marketing Authorization with orphan drug designation for the same condition, which means that Shire’s treatment maintains orphan market exclusivity in the European Union for ten years from the time of its authorization in August 2010. For its part, Pfizer pursued a request for derogation from Shire’s orphan market exclusivity based on a number of factors, but that request was rejected.
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Exxon Mobil Corp. (NYSE:XOM): Suspicions that certain European banks are artificially embellishing a key yardstick to their financial wellbeing, has investors and regulators worried that the actions will further reduce the market ‘s confidence in banks on The Continent, according to a Wall Street Journal report.
Sony Corp. (NYSE:SNE) is winning the competition to be a capital investor in Olympus Corp. (OCPNY). The struggling maker of medical equipment is looking for a cash injection of approximately $622.65 million to rescue its finances after its 2011 accounting scandal, say sources to the Wall Street Journal.
BHP Billiton (NYSE:BHP) is said by investors and analysts to be looking at cutting the first stage of its estimated $10 billion iron ore port expansion by 50 percent, as it tries to reduce capital expenditures in the face of rising costs and an uncertain market outlook, according to Reuters.
Deutsche Bank (NYSE:DB) co-CEOs Anshu Jain and Juergen Fitschen might be thinking about making additional cost cutting moves, according to Frankfurter Allgemeine Zeitung, reports Reuters.
Rosneft (RNFTF.PK), the Russian crude oil company, is in discussions with ExxonMobil (NYSE:XOM) about partnering to drill Iraq’s huge West Qurna-1 oilfield, according to the Kommersant Daily, says a Reuters report.
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