Pfizer (NYSE:PFE) and Halozyme (NASDAQ:HALO) have reached a worldwide collaboration and license agreement for the development and commercialization of products combining proprietary Pfizer biologics with Halozyme’s Enhanze tech. Through the terms, Halozyme awards Pfizer a global license to develop and commercialize products uniting rHuPH20 with Pfizer proprietary biologics directed to up to six targets, which may be selected on an exclusive or non-exclusive basis. Halozyme will receive an initial payment of $8 million, including the upfront fee for exclusive licenses to two specified therapeutic targets in primary care and specialty care indications, along with the right for Pfizer to elect as many as four additional targets upon payment of additional fees. Halozyme may to receive additional payments upon Pfizer’s achievement of specified development, regulatory and sales-based milestones, totaling to a maximum of $507 million, and is also entitled to royalty payments based on net sales of any licensed products.
Microsoft Corporation (NASDAQ:MSFT) has won a United Kingdom ruling which invalidates Motorola Mobility Holdings patent protection for tech that synchronizes message statuses across multiple devices. Judge Richard Arnold said in a decision in London Friday that the 2002 patent owned by Google (NASDAQ:GOOG)’s Motorola Mobility unit should not have been issued as the tech was obvious to experts in the field at the time.
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The Home Depot (NYSE:HD) launches a holiday safety campaign since celebrations, family gatherings and visits from guests typically increase during this time and statistics indicate that the number of electrical fires also increases during the holidays. Will Smith, a safety expert with the Home Depot, says that lights, circuits and cords are the main causes of holiday house fires.
General Electric Company (NYSE:GE) will purchase Avio’s aviation business from Cinven, a leading European private equity company that has owned Avio since 2006, and Finmeccanica, the Italian aerospace group, for $4.3 billion. GE will not be purchasing Avio’s space division. The purchase price to be paid by GE represents a multiple of around 8.5x based on 2012 estimated earnings before interest, taxes, depreciation and amortization.
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