Merck has signed a co-development agreement with Xian-Janssen Pharmaceutical to launch its INVOKANA (canagliflozin) drug, which is indicated for the treatment of type 2 diabetes, in China.

Both companies will focus on the co-development and marketing of INVOKANA in China, while Merck will hold the exclusive rights to promote the drug in China.

Based in Germany, Merck is a biopharmaceutical company engaged in the discovery and development of prescription medicines, while Xian-Janssen is a pharmaceuticals manufacturer based in China.

Apotex has entered an agreement to sell its European generics business and related infrastructure to Aurobindo Pharma.

Apotex’ subsidiaries in the Netherlands, Poland, the Czech Republic, Spain and Belgium will be transferred to Aurobindo, upon completion of the transaction.

Apotex has also signed a transitional manufacturing and supply arrangement with Aurobindo to support the growth of the European businesses.

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Based in Canada, Apotex is a pharmaceutical company that manufactures generic drugs, while Aurobindo is a pharmaceuticals manufacturer based in India.

The asset transaction will enable Apotex to focus on its American businesses that are witnessing strong demand for the company’s products.

Dare Bioscience has signed an asset transaction agreement to acquire CatSper contraceptive target portfolio from Hydra Biosciences.

CatSper is a novel non-hormonal contraceptive developed by Hydra Biosciences to prevent pregnancy through administration to either women or men.

“Apotex has entered an agreement to sell its European generics business and related infrastructure to Aurobindo Pharma.”

Dare Bioscience is a women’s reproductive health company, while Hydra Biosciences is a developer of novel drugs to treat therapeutic diseases.

Both companies involved in the transaction are based in the US.

The agreement will enable Dare Bioscience to develop novel contraception solutions for use by both men and women.

AVEO Pharmaceuticals has raised $6m through a public offering of two million shares priced at $3 a share.

The company plans to use the funds from the offering towards working capital and other general corporate purposes.

Wilmer Cutler Pickering Hale and Dorr has been appointed as the legal adviser to the company for the offering.

Based in the US, AVEO Pharmaceuticals is a biopharmaceutical company engaged in the development of therapeutics in the field of oncology.

GlaxoSmithKline (GSK) has entered an agreement to sell the rights of tapinarof, an investigational drug for the treatment of psoriasis, to Dermavant for £250m ($292m).

Dermavant will make an initial payment of £150m ($175m) to GSK and £100m ($117m) in milestone payments.

Dermavant will be granted the global rights to the pre-clinical programme of tapinarof through the acquisition.

The transaction is expected to be closed in the second half of 2018, subject to necessary regulatory approvals.

GSK is a pharmaceutical company based in the UK, while Dermavant Sciences is a US-based developer of innovative therapies in medical dermatology and a subsidiary of Roivant Sciences.