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Alder BioPharma closes $38m Series D financing

ALD518 is a monoclonal antibody to the pro-inflammatory cytokine IL-6, which is under Phase 2 development by Bristol-Myers Squibb for autoimmune diseases, and by Alder for cancer-related conditions.

SLP releases new version simulation, modeling software

Admet Predictor 6.0 now integrated with MedChem Designer offers graphical user interface improvements, expanded multidimensional graphics output and enhanced capabilities for exporting results. SLP Admet cheminformatics team leader

Watson introduces generic version of Fortamet

The company began the shipment of generic Fortamet (metformin hydrochloride extended-release tablets). Fortamet is indicated as an adjunct to diet and exercise to lower blood glucose for patients

HGS rejects $2.6bn takeover bid by GSK

GSK offered $13 per share, which is 81% premium to HGS closing price on 18 April 2012, of $7.17 per share. HGS has partnered Glaxo in the development