› $4.85 Billion settlement in drug case
Five pharmaceutical companies are working on new medications to treat blood clots, also known as thrombosis, according to The Wall Street Journal. Thrombosis is a serious problem affecting nearly 900,000 Americans each year, and resulting in nearly 300,00 deaths annually. Currently, heparin and Vitamin K antagonists are the only two principal treatments for blood clots.
Australia-based Alchemia, a biotechnology company specializing in synthesis and manipulation of carbohydrates, announced on its Web site that it is on target to launch its antithrombotic drug, generic fondaparinux. Generic fondaparinux targets the multi-billion dollar heparin drug market. The company claims fondaparinux has a superior safety and efficacy profile to the market-leading drug Lovenox. Meanwhile, the brand-name fondaparinux drug Arixtra, made by GlaxoSmithKline (GSK) continues to gain market share.
