Cancer deal

British biotechnology company Astex Therapeutics last week announced a deal with Swiss drug giant Novartis that is potentially worth US$500 million. Under the agreement, Novartis will pay $25 million to secure the global licensing rights to Astex's anticancer drug AT9311. The orally administered drug, which inhibits the cell cycle, is nearing clinical trials. Novartis has also obtained an option on the global licence for AT7519, an intravenously administered cell-cycle inhibitor, which is now in early clinical trials. Payments including fees, options and milestones could total US$520 million, excluding royalties.

Indian Expansion

Microsoft chairman Bill Gates said last week that the company will invest US$1.7 billion and hire 3,000 workers in India over the next four years. The announcement came on the same day that the software company lost an anti-trust case in South Korea. As a result, Microsoft was fined US$32 million and ordered to unbundle its Messenger and Media Player software from its Windows operating system. Despite the statement issued after the ruling in which the company reaffirmed its commitment to South Korea, Microsoft has previously said that losing the case could force it to withdraw Windows from the country. Microsoft's investment in India mirrors similar moves announced recently by Intel and Cisco Systems.

Vaccine Makers courted

The US Securities and Exchange Commission last week revised its interpretation of an accounting rule in an effort to encourage vaccine manufacturers to take part in strategic stockpile programmes. The change allows companies making vaccines for stockpiles such as pandemic influenza and biodefence to chalk up the vaccines as sales when they are placed in the stockpiles. Until now, firms had to wait until vaccines were distributed to claim the sales. Critics have argued that this may have discouraged companies from participating because stockpile supplies, by their nature, may never be used and have a limited shelf life.