Greenwich is forced to look for partners

Greenwich Pharmaceuticals Inc., which has always shied away from a comprehensive partnering strategy, has done an about-face following the decision of an FDA advisory committee to recommend against marketing approval of Therafectin, a synthetic carbohydrate for rheumatoid arthritis.

The Fort Washington, Penn., company last week said it will begin to pursue strategic partnerships and other business arrangements, including possible merger or acquisition, to maximize the value of its remaining assets...