AstraZeneca took a further step to bolster its pipeline of new cancer drugs on Monday by agreeing to acquire privately held US biotech company Amplimmune for up to $500 million. The deal is the second within 24 hours in the cancer drug space, following Amgen?s much larger acquisition of Onyx Pharmaceuticals for about $10.4 billion. Amplimmune specialises in developing treatments designed to help the immune system fight cancer and the purchase will give AstraZeneca access to a number of compounds currently in pre-clinical development. While it will not yield commercially viable new medicines for several years, the move fits with the British drugmaker’s strategy of building up its capability in oncology ? a key area identified for investment by CEO Pascal Soriot.
China probes VP at CNPC for ?breach of discipline?
The Chinese government says a vice president (VP) of the country’s biggest oil company, state-owned CNPC, is being investigated for unspecified ?severe violations of discipline?. The ministry of supervision’s one-sentence announcement on Monday gave no details of the accusations against Wang Yongchun, who also is general manager of the company that operates China’s biggest oilfield, Daqing. The official Xinhua News Agency said Wang also served in China’s national legislature. China National Petroleum is the parent company of PetroChina, one of the world’s biggest oil producers by market capitalisation.
Google to create driverless taxis to carry passengers
Google is planning to create a fleet of driverless ‘robo-taxis’ to pick up and drop off passengers. The ultimate goal of Google’s self-driving car project is to create a ‘robo-taxi’ that picks up commuters on demand. Such a system could transform transport systems around the world, doing away with the need for most people to buy cars, company executives believe. They also believe it would reduce the number of road accidents as well as having environmental benefits, The Times reported. Google’s move to create a driverless vehicle of its own comes after the company held talks with major manufacturers in recent months, hoping that carmakers would build vehicles that incorporated Google’s self-driving software.
Unified visa for GCC countries by 2014
Gulf Cooperation Council (GCC) plans to launch a unified visa for tourists visiting the region by mid-2014, aimed at simplifying travel formalities for the visitors. ?The plan to have a GCC tourism visa, similar to the Schengen visa in Europe, is about to be implemented after obstacles have been cleared,? media reports quoted security sources as saying. With the help of new visa, Arab and foreign tourists could visit all GCC member countries which include Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE, simplifying travel formalities for visitors. A single-entry visa should be valid for one month while multiple-entry visas could be issued for one year, reports said, adding that the conditions for obtaining the visa include presenting evidence of sufficient finances.
Head of Russia?s Uralkali detained in Belarus: Agency
The head of Russia’s largest potash producer Uralkali has been detained in Belarus, Russian news agencies reported on Monday, escalating friction between the two ex-Soviet neighbours after the collapse of a joint sales pact. Vladislav Baumgertner, also a supervisory board member at the Belarus Potash Co, was held by the Belarusian Investigative Committee on suspicion of abusing his position and official powers, the RIA Novosti news agency reported. Uralkali pulled out of the BPC partnership at the end of July, hitting shares in potash firms and raising the prospect of aggressive competition in a market where a few suppliers have long been able to command high prices for the soil nutrient. The Russian firm declined immediate comment. Reuters could not reach the Belarus Investigative Committee, the country’s top crime-fighting body, for comment.
