Convergence Pharmaceuticals Ltd, a new company focused on the development of novel and high value analgesic medicines, was officially launched and has successfully raised $35.4 million (£22.4 million) in Series A financing from a syndicate of leading European and US life science investors. Convergence Pharmaceuticals is an independent biotechnology company that has acquired clinical assets from GlaxoSmithKline ("GSK").

Novartis discontinued the development of two investigational compounds in its pharmaceutical pipeline, reflecting enhanced focus on differentiated medicines most likely to address unmet medical needs. Novartis and Human Genome Sciences decided to stop further global development of the investigational compound albinterferon alfa-2b* for the treatment of adults with chronic hepatitis C.

H. Lundbeck A/S (Lundbeck) has signed an agreement with Kyowa Hakko Kirin Co., Ltd. (Kyowa Hakko Kirin) providing Lundbeck with exclusive rights to develop and commercialise the adenosine A2a antagonist KW-6356. Lundbeck will also have the right to further select compounds as either back-up or additional indication compounds.

Sanofi-aventis (EURONEST: SAN and NYSE:SNY) has commenced a tender offer for all outstanding shares of common stock of Genzyme Corporation (NASDAQ: GENZ) for $69 per share, net to the seller in cash, without interest and less any required withholding taxes.

Genzyme Corp. (NASDAQ: GENZ) said that its board of directors urged shareholders to take no action on an unsolicited tender offer from sanofi-aventis to acquire all outstanding common shares of Genzyme for $69 per share.

Sanofi-aventis (EURONEXT: SAN and NYSE: SNY) announced that data from the Phase III TROPIC study, which was the basis for the June 2010 U.S. Food and Drug Administration (FDA) approval of Jevtana® (cabazitaxel) Injection, was published in the October 2 issue of The Lancet in an article titled "Prednisone plus cabazitaxel or mitoxantrone for metastatic castration-resistant prostate cancer progressing after docetaxel treatment: a randomised open-label trial".

ROTATEQ® (Rotavirus Vaccine, Live, Oral, Pentavalent), Merck's vaccine for rotavirus gastroenteritis in infants and children, received the Prix Galien USA 2010 Award for Best Biotechnology Product.