Business briefs...

Recent failed trials of a leukaemia drug will affect the financial performance of Australian biotech company BresaGen by A$3m (€1.7m), and have resulted in nine job losses and a 10% pay cut for senior management. BresaGen and its partner British Biotech have now ended their agreement to develop the leukaemia compound E21R, which was one of the main components of BresaGen's protein pharmaceutical division.

UK drug discovery company BioFocus has increased its holding in AustCancer to more than 3%. In 2001 AustCancer and BioFocus formed a strategic alliance designed to provide AustCancer with a succession of potential treatments for cancer over the next few years. It is envisaged that BioFocus will conduct initial r&d at its modern facilities in the UK, and AustCancer will provide both preclinical and clinical evaluation and development in Australia.

Amgen, the world's largest biotechnology company, has completed its acquisition of Immunex Corporation following clearance from the US Federal Trade Commission. 'Amgen will now have an enhanced position with a wide range of important drugs, including blockbusters EPOGEN, NEUPOGEN and ENBREL, as well as the recently marketed Aranesp, Neulasta and Kineret, said Amgen chairman and ceo Kevin Sharer.

Wyeth has signed a definitive agreement with Baxter Healthcare Corporation for the sale of certain assets related to its ESI Lederle generic human injectable pharmaceuticals business. Under the terms of agreement, Baxter will pay approximately US$305m (€312m) to Wyeth in cash at closing.