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HEALTH
By Andrea K. Walker, The Baltimore Sun | April 29, 2014
Biotechnology company MedImmune said Tuesday it has expanded a bioresearch collaboration it started with the University of System of Maryland. The Gaithersburg company, a development arm of AstraZeneca, started the partnership with the University of Maryland Baltimore in 2013 and will now also work with campuses in College Park and Baltimore County. Research will start on five projects under the expanded agreement. MedImmune will contribute at least $5 million to the partnership over a five-year period, and the University System of Maryland institutions will contribute $800,000.
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BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | May 18, 2014
Research labs closed by pharmaceutical giant Pfizer dot the country: Illinois. Michigan. New Jersey. New York. North Carolina. Maryland officials don't want this state to join that list. After Pfizer declared its desire to buy AstraZeneca — which employs 3,100 in the state — Gov. Martin O'Malley and six members of Maryland's congressional delegation fired off concerned letters, even though the purchase is by no means a done deal. So far, London-based AstraZeneca has rebuffed its New York suitor.
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BUSINESS
By Scott Dance, The Baltimore Sun | November 18, 2012
When Gail Folena-Wasserman joined Gaithersburg biotechnology startup MedImmune in 1991, she was its first employee in research and development, and dreamed of what the company might be "when it grew up. " Two decades later, the senior vice president for biopharmaceutical development is helping to test new drugs at a dramatically different MedImmune. Five years since a $15 billion acquisition by British pharmaceutical giant AstraZeneca, the company is funneling a pipeline of potential therapies that has grown three times over and covers a wider spectrum of diseases.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | May 8, 2014
Gov. Martin O'Malley and Delaware Gov. Jack Markell sent a joint letter to Pfizer Thursday expressing concerns about its proposed $106 billion acquisition of pharmaceutical firm AstraZeneca, which employs thousands in both states. The governors said they earlier asked for but did not receive assurances from Pfizer that it intends to preserve those jobs, though they said the company made such promises to British leaders about jobs there. "Our concern is exacerbated by Pfizer's history of closing U.S. research facilities, including sites in Michigan and Illinois, after closing on previous corporate transactions," they wrote.
BUSINESS
By Andrea K. Walker, The Baltimore Sun | September 26, 2013
Drug maker MedImmune and the University of Maryland, Baltimore have entered into a $6 million partnership to conduct bioscience research. Under the five-year agreement, Gaithersburg-based MedImmune and the university will provide funding and scientists to work on joint research they hope will result in quicker development of drugs. The research will focus on cardiovascular and metabolic disease; oncology; respiratory, inflammation and autoimmunity; and infectious disease - areas MedImmune is already strong in. MedImmune will contribute $5 million and the university $1 million.
BUSINESS
April 18, 1996
MedImmune Inc., a Gaithersburg-based biotechnology company, said yesterday that it has agreed to collaborate with Rockefeller University to develop a vaccine to prevent or treat illnesses caused by a virulent bacteria, Streptococcus pneumoniae.MedImmune also struck a licensing deal with the New York school for the rights to commercialize any vaccines developed from the collaboration. The two did not disclose financial details of the agreement.The bacteria MedImmune and Rockefeller have targeted is the leading cause of blood stream infections, pneumonia and ear infections in children, and the third leading cause of meningitis.
BUSINESS
By Kim Clark and Kim Clark,Sun Staff Writer | July 26, 1995
MedImmune Inc. said yesterday that while its revenues in the second quarter nearly doubled, its losses widened.The Gaithersburg-based biotechnology company said its revenues rose $3.8 million, to $7.9 million, in the quarter that ended June 30, mostly due to a $2.7 million increase in reimbursement payments from American Home Products, which has forged an alliance with MedImmune.It also cited a 37 percent increase in sales of CytoGam, a drug that helps kidney transplant patients. MedImmune said it sold $4.2 million worth of the drug in the second quarter.
BUSINESS
December 26, 1995
MedImmune Inc., the Gaithersburg biotech firm, has announced that it has settled a two-year-old class-action lawsuit that claimed the company misled investors.The company said it would record a charge of $637,500 in the quarter ending Sunday. The balance of the settlement, $3,612,500, will be paid by insurers, MedImmune said."We have fully settled the lawsuit and gotten it behind the company and can move ahead," said Mark E. Kaufmann, MedImmune's manager of investor relations.Little more than a week ago, a Food and Drug Administration advisory panel recommended approval of MedImmune's most promising drug, RespiGam, for marketing.
BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,Sun Staff Writer | June 27, 1995
MedImmune Inc. yesterday announced a deal with Baxter Healthcare Corp. to market the Gaithersburg company's infant pneumonia vaccine outside North America, a move that will shore up the money-losing biotechnology company's balance sheet and could make MedImmune profitable a year sooner than Wall Street had expected.As part of the alliance, Baxter will pay $9.5 million for stock that represents about a 5.6 percent stake in MedImmune, said Mark Kaufman, strategic planning manager for the Gaithersburg firm.
BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,Sun Staff Writer | July 20, 1995
MedImmune Inc. of Gaithersburg saw its shares pummeled yesterday as the fledgling biotechnology company disclosed that its breakthrough drug had mixed results in its final stage of clinical trials.The stock dropped $2.75, or 23 percent, to $9.25 in extremely heavy trading after the company said its key drug worked on one set of patients but not another.RespiGam, designed to prevent a virus that causes infant pneumonia, significantly reduced hospitalization related to respiratory syncitial virus in premature infants and infants with a condition called bronchopulmonary dysplasia.
HEALTH
By Andrea K. Walker, The Baltimore Sun | April 29, 2014
Biotechnology company MedImmune said Tuesday it has expanded a bioresearch collaboration it started with the University of System of Maryland. The Gaithersburg company, a development arm of AstraZeneca, started the partnership with the University of Maryland Baltimore in 2013 and will now also work with campuses in College Park and Baltimore County. Research will start on five projects under the expanded agreement. MedImmune will contribute at least $5 million to the partnership over a five-year period, and the University System of Maryland institutions will contribute $800,000.
BUSINESS
By Andrea K. Walker, The Baltimore Sun | September 26, 2013
Drug maker MedImmune and the University of Maryland, Baltimore have entered into a $6 million partnership to conduct bioscience research. Under the five-year agreement, Gaithersburg-based MedImmune and the university will provide funding and scientists to work on joint research they hope will result in quicker development of drugs. The research will focus on cardiovascular and metabolic disease; oncology; respiratory, inflammation and autoimmunity; and infectious disease - areas MedImmune is already strong in. MedImmune will contribute $5 million and the university $1 million.
BUSINESS
By Scott Dance, The Baltimore Sun | November 18, 2012
When Gail Folena-Wasserman joined Gaithersburg biotechnology startup MedImmune in 1991, she was its first employee in research and development, and dreamed of what the company might be "when it grew up. " Two decades later, the senior vice president for biopharmaceutical development is helping to test new drugs at a dramatically different MedImmune. Five years since a $15 billion acquisition by British pharmaceutical giant AstraZeneca, the company is funneling a pipeline of potential therapies that has grown three times over and covers a wider spectrum of diseases.
NEWS
By John Fritze, The Baltimore Sun | May 5, 2012
A proposal to speed the approval of new prescription drugs has patient advocates and biotech firms — including many based in Maryland — hoping that Congress will deliver a rare dose of bipartisanship this year. Lawmakers are proposing a 6 percent increase in the fees that pharmaceutical firms pay the Food and Drug Administration to offset the cost of approving new drugs. If the measure is not signed into law by the end of September, the FDA would lose the ability to charge any fees and be forced to lay off 2,000 workers, significantly slowing review times.
BUSINESS
By Gus G. Sentementes, The Baltimore Sun | April 21, 2012
Like a one-two punch, two major Maryland employers in the health care service and pharmaceutical industries were the targets last week of multibillion-dollar acquisition deals. Both homegrown companies — Human Genome Sciences Inc. and Catalyst Health Solutions Inc. — are based in Rockville. Both were courted by out-of-state companies. Human Genome ultimately rebuffed a $2.6 billion offer by biopharmaceutical giant GlaxoSmithKline, saying it was too low. But Catalyst agreed to be acquired by a larger Illinois competitor for $4.4 billion, and Human Genome has officially acknowledged it's on the market.
BUSINESS
By Gus G. Sentementes, The Baltimore Sun | July 11, 2010
Baltimore's biotechnology industry has made strides. Two biotech parks by the Johns Hopkins University and the University of Maryland now anchor the east and west sides of the city. A few dozen biotech startups have made their home here. But Baltimore's nascent biotech industry doesn't yet have a breakout company — a darling of venture capitalists and Wall Street that has grown past the risky and unprofitable startup phase to achieve a steady stream of revenue and products in the pipeline.
BUSINESS
November 21, 1996
Gaithersburg-based MedImmune Inc. announced yesterday that a late-stage human trial has been launched to evaluate the effect of a treatment it has developed for the prevention of a serious respiratory disease in high-risk infants.The disease, respiratory syncytial virus, is one of the leading causes of pneumonia and bronchitis in infants and small children. In the United States, more than 90,000 children are hospitalized and 4,500 die from RSV disease annually, the biotechnology company said.
BUSINESS
January 14, 1998
MedImmune Inc. raised $66.3 million in a private placement of stock with three institutional investors, the company said yesterday.The Gaithersburg-based biotechnology firm, which is developing treatments for infectious diseases, said 1.7 million new shares of common stock will be issued at $39 per share to BB Biotech, Investor AB and Invesco Funds Group.The company said the transaction depends upon Securities and Exchange Commission approvals.Upon closing of the financing, MedImmune will have 26.2 million shares outstanding.
BUSINESS
June 29, 2008
Severstal plans improvement Russian steelmaker OAO Severstal, which closed on an $810 million deal to buy Sparrows Point in May with promises to invest significantly in the steel plant, said its first major project will be to upgrade the blast furnace. The $10 million renovation will begin in late summer and the blast furnace, which creates raw steel from ore, would be shut down for about 14 days. Court rules in Grace case The U.S. Supreme Court has refused an appeal to limit the asbestos-related criminal charges against Columbia's W.R. Grace & Co. and six former executives.
BUSINESS
By Tricia Bishop and Tricia Bishop,SUN REPORTER | June 27, 2008
After 16 years of guiding MedImmune Inc. from a struggling Gaithersburg biotech to one of the world's most profitable, Chief Executive David M. Mott is stepping down for personal reasons, the company's London-based parent, AstraZeneca PLC, said yesterday. Tony Zook, CEO of AstraZeneca's North American business based in Wilmington, Del., will succeed Mott when he leaves at the end of July. The announcement surprised local biotech representatives, who look to Mott, 42, as a role model in an industry the state considers among its best hopes for economic growth.
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