Galen Holdings has signed a letter of intent with Barr Laboratories removing the patent risk over three of its four products.

THE HRT cancer scare has knocked 49 cent off the Galen share price in brisk trading.

Northern Ireland-based pharmaceuticals group Galen toasted the addition of a string of new drugs today after third quarter results showed sales had more than doubled.

British Airways yesterday plunged to its worst-ever loss of £45 million in the first quarter, and said the cost of last week’s wildcat swipe card strike could be £40 million.

The founder of Galen Holdings sold 700,000 shares in the company on Friday, netting over €7m, according to the London Stock Exchange today.

GALEN’S US-based takeover suitor Barr Laboratories will have to pay over €2 billion, as the Northern Irish pharmaceutical company becomes the latest company lining up to quit the Irish Stock Exchange.

Investors collected profits today, sending Wall Street moderately lower. A surge in unemployment claims and disappointing earnings reports also fed worries that the economy was not keeping pace with the market’s recent gains.

Bayer AG said it will "resolutely" fight several legal claims that have emerged in the US against the validity of its patent on anti-anthrax drug Cipro.