Human Genome Sciences Buys Research Firm

Human Genome Sciences Inc. said it bought Principia Pharmaceutical Corp., a closely held drug development company, for about $120 million in stock. The purchase gives Rockville, Md.-based Human Genome Sciences “protein technology which may solve three of the long-standing problems affecting production and commercial optimization of biological products--the length of time that the protein lasts within the body, delivery of the product and product stability,” said spokesman Craig Rosen. Human Genome Sciences said it will take a “significant” charge for research projects it acquired and for development expenses. Christopher Prior, founder and president of Norristown, Pa.-based Principia, will continue to head the company, which will be a unit of Human Genome Sciences. Human Genome Sciences shares fell $9.45 to close $155 on Nasdaq.