Silicon Valley software giant Oracle Corp. announced a deal Monday to buy Micros Systems for $5.3 billion, eyeing the Columbia firm for its niche supplying technology to hotels, restaurants and retailers around the world.
Pfizer said on Monday it had abandoned its current attempt to buy AstraZeneca for nearly $118 billion — a deal watched warily by Maryland officials — as a deadline approached without a last-minute change of heart by the British drugmaker.
Research labs closed by pharmaceutical giant Pfizer dot the country. Maryland officials don't want the state to join that list, so Pfizer's proposal to buy AstraZeneca — which employs 3,100 in the state — has prompted local angst.
Gov. Martin O'Malley and Delaware's governor sent a joint letter to Pfizer Thursday expressing concerns about its plans to acquire pharmaceutical firm AstraZeneca, which employs thousands in both states.
Grotech Ventures will be the first venture capital firm to invest in Maryland startup companies using $12 million in state money as part of the InvestMaryland program, state economic development officials said Wednesday.
Human Genome, which uses the human DNA sequence to develop targeted drugs, was able to raise its price to $14.25 for sale to London-based GlaxoSmithKline Plc, valuing the company at $3.6 billion. In April, GlaxoSmithKline offered to buy Human Genome for $13 a share, or $2.6 billion.
Maryland has hosted 1,775 clinical trials for new medicines targeting major diseases since 1999, including 369 that are still in the early stages of recruiting patients, according to a study by two pharmaceutical industry groups released Friday.
A proposal to speed the approval of new prescription drugs has patient advocates and biotechnology firms, including many that are based in Maryland, hoping that Congress can deliver a rare dose of bipartisanship this year.
Human Genome ultimately rebuffed a $2.6 billion offer by biopharmaceutical giant GlaxoSmithKline Plc, saying it was too low – though it has put itself on the market. Catalyst agreed to be acquired by a larger Illinois competitor for $4.4 billion.
A Maryland plan to sell tax credits to insurance companies succeeded in raising $84 million in a novel online auction, and the revenue will be pumped into promising technology companies across the state over the next 18 months, officials said.
Maryland officials are pitching the state's talent pool —corporate executives, academics and consultants that regularly deal with the federal government — as a resource for supporting existing companies and attracting new ones.
The announcement this week that Chicago-based Exelon Corp. has struck a deal to take over Constellation came as something of a psychic blow. If the $7.9 billion deal is approved, and the parent of local utility BGE is absorbed , then Baltimore will lose its sole remaining Fortune 500 headquarters.