Myriad axes 21 jobs, suspends HIV programs in restructuring

With an eye to extending its cash runway past 2013, Salt Lake City-based Myriad Pharmaceuticals announced this morning that it's axing 21 employees and suspending work on its HIV programs while concentrating its resources on the developer's cancer drug pipeline. The HIV work will now be put on the block for potential partners to bid on. "Over the last six years Myriad Pharmaceuticals has generated a deep pipeline of oncology assets. After conducting an exhaustive review of our development...

Javelin and Myriad terminate merger pact

Javelin Pharmaceuticals and Myriad Pharmaceuticals have officially terminated their merger pact, clearing the way for Javelin to accept Hospira's $141 million buyout offer. Hospira's offer was considerably higher than Myriad's $90 million purchase price, and it included $4.4 million to cover the termination fee. Javelin submitted an NDA for its postoperative pain therapy Dyloject last December....

Javelin jilts Myriad in favor of Hospira’s $141M takeover offer

Javelin Pharmaceuticals is dumping Myriad Pharmaceuticals and its $81 million takeover deal in exchange for a much, much better deal from Hospira. Javelin shares skyrocketed 63 percent this morning after it announced that Hospira will pay $141 million for the company. Hospira not only offered $2.20 a share for Javelin--which is awaiting final word from the FDA on its application for the pain therapy Dyloject--but sweetened the deal with financing and an offer to cover a $4.4 million...