• Novartis' Dengue Fever Drugs in Clinical Trials by 2011
• Abbott completes AMO acquisition

• Novartis' Dengue Fever Drugs in Clinical Trials by 2011
Swiss pharmaceutical company Novartis AG said it hopes to have a drug to combat dengue fever ready for clinical trials on humans by 2011, after having initially planned to launch the studies last year.
Until recently, Big Pharma put few resources into cures for tropical diseases because they are considered unlikely to be profitable. Novartis set up its institute as a philanthropic exercise: The company plans to find cures for tropical diseases and make them available without profit in poor nations. The Novartis Institute for Tropical Diseases, a partnership between Novartis and the Singapore government, has been seeking cures for dengue, malaria and tuberculosis--diseases that largely affect poor countries--since its inception in 2002.
The delay highlights the difficulties of finding drugs to combat tropical diseases that infect millions of people in the developing world. Dengue, a mosquito-borne disease that causes a severe flu-like illness, infects 50 million people annually, of which half a million are hospitalized and 12,500 die, according to the WHO..

• Abbott Completes AMO Acquisition
Healthcare major Abbott has completed the acquisition of Advanced Medical Optics (AMO). AMO is now a wholly owned subsidiary of Abbott and has been renamed as Abbott Medical Optics.

The acquisition of AMO enhances and strengthens Abbott's diverse mix of medical device businesses and gives it a leadership position in the large and growing eye care market. Abbott Medical Optics holds the number one position in LASIK surgical devices, the number two position in the cataract surgical device market and the number three position in contact lens care products.

"As with previous acquisitions that have strengthened and diversified our business, we're entering a market that's aligned with demographic trends and growing medical need," said Mr John M Capek, executive vice president, Medical Devices, Abbott. "This acquisition provides Abbott access to a $22 billion global market and the opportunity to help a very large patient population."

The final step in the acquisition process was a short-form merger of Rainforest Acquisition, a wholly owned subsidiary of Abbott, with and into AMO. As a result of the merger, all outstanding shares of AMO common stock not tendered in the cash tender offer were converted into the right to receive $22 per share in cash, without interest and subject to any required withholding taxes