Genzyme Corporation has entered into an agreement to acquire the worldwide rights to Campath (alemtuzumab) from Bayer HealthCare, giving Genzyme primary responsibility for the development and commercialization of this potential break-though treatment for multiple sclerosis (MS). Bayer will continue to fund a portion of alemtuzumab's development in MS and will retain an option to co-promote the product in MS upon approval.

Shares of Novavax got a much-needed boost yesterday when it announced that a subsidiary of India's Cadila is taking an $11 million stake in the vaccine company and signing on to a new joint venture. Shares closed above $1.00 for the first time since late February. Rockville, MD-based Novavax had earlier announced that it needed fresh funds to avoid a restructuring to save money.

Shire plc, the global specialty biopharmaceutical company, announced a co-promotion agreement with GlaxoSmithKline plc for Vyvanse (lisdexamfetamine dimesylate) capsules CII with the aim of improving recognition and treatment of ADHD in adults.

Genzyme has scooped up key worldwide rights to the leukemia drug Campath--which is being studied as a treatment for MS--and two cancer therapies from its development partner Bayer HealthCare in a deal with a potential $2.8 billion payout.