Company Notes

Cambridge, MA (Dec. 20)—Altus Pharmaceuticals Inc. (www.altus.com) entered into a license agreement with Genentech, Inc. (South San Francisco, www.gene.com) to develop, manufacture, and commercialize Altus’ product candidate "ALTU-238," in North America with an option for a global agreement. ALTU-238 is a once-per-week formulation of human growth hormone, which uses Altus’ proprietary protein crystallization and formulation technology. Under the North American agreement, Genentech will make a $15-million upfront payment to Altus and take a $15-million equity interest in Altus. Altus may receive an additional $140 million based on reaching certain development and commercialization milestones. If Genentech excercises the global option, Altus could receive payments of more than $110 million, comprised of upfront and milestone payments.

London (Dec. 21)—GlaxoSmithKline plc (www.gsk.com) agreed to acquire Praecis Pharmaceuticals Inc. (Waltham, MA, www.praecis.com) for $54.8 million. Praecis is involved in chemical synthesis and screening technology for drug discovery. The deal is expected to close in the first quarter of 2007.

Pompey, France (Dec. 11)—Novasep Synthesis (www.novasep.com) signed a five-year manufacturing alliance with Solvay Pharmaceuticals (Brussels, www.solvay.com). The deal includes exclusive synthesis of two of Solvay's active pharmaceutical ingredients, pinaverium bromide and betahistine.

Tulsa, OK (Dec. 4)—Oracle Packaging (www.oraclepackaging.com) has acquired TOLAS Healthcare Packaging (Feasterville, PA), a specialist in packaging using medical-grade "Tyvek"; reinforced and surgical kraft papers; laminated and coextruded films; and multilayer foils.

New York, NY (Dec. 20)—Pfizer Inc. (www.pfizer.com) completed the sale of its Pfizer Consumer Healthcare business to Johnson & Johnson (New Brunswick, NJ, www.jnj.com) for $16.6 billion or about $13.5 billion in after-tax proceeds.

People Notes

New York, NY (Dec. 18)—Pfizer (www.pfizer.com) CEO Jeffrey B. Kindler assumed the additional post of Chairman of the Board, succeeding former CEO and Chairman Hank McKennell.

Paris (Dec. 14)—Sanofi-Aventis (www.sanofi-aventis.com) named Gerard Le Fur chief executive officer effective Jan. 1, 2007, fulfilling the company's announced plan of separating the chairman and CEO positions. Jean-François Dehecq remains chairman of the board.