Officials of the Stem Cell Institute of New Jersey already are seeking new researchers and cooperative arrangements with companies they fear will move to California to take advantage of the greater research funding in Proposition 71. A Massachusetts firm, Advanced Cell Technology, said it will open a California laboratory to apply for grants.
Rejecting the report commissioned by the North American Free Trade Agreement, the U.S. maintains modified corn is analogous to corn hybrids. Despite the U.S.' rejection of the report's findings, Mexico is expected to implement several of its recommendations.
Merck, which had the highest rating provided by Moody's Investors Service, now has a rating two levels lower, with a possibility of being lowered even further. An analyst said Merck faces potential costs with Vioxx that mean it could no longer sustain a triple-A rating. Merck's treasurer said the company was disappointed in the change in credit rating, but that it "doesn't impact our confidence in our prospects."
Lower reimbursement rates for drugs Aranesp, Neulasta and Neupogen are expected, while rates for other drugs may rise, according to Amgen's quarterly filing with the SEC. The changes stem from the 2003 Medicare Prescription Drug, Improvement and Modernization Act. The U.S. Centers for Medicare and Medicaid Services are expected to publish new information on potential rate changes in December.
Cambridge Antibody Technology said the eye treatment Trabio failed a Phase II/III trial, ending plans to seek regulatory approval in 2005. Trabio was intended to prevent scarring following glaucoma surgery, but it failed to improve outcomes in a 344-patient study