Company News

GSK buffeted by strong currency

GlaxoSmithKline Plc ended the first quarter with a decline in sales and operating profit and a portfolio that focuses investment in three areas: pharmaceuticals, vaccines and consumer healthcare. The big event of the quarter was the company’s move to take full control of a joint consumer products venture from Novartis.

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Location

United Kingdom

Shire mulls revised Takeda proposal

Shire Plc has secured additional time from the UK competition authority to review a proposed bid from Takeda Pharmaceutical Company Ltd that values the Dublin-based company at £46 billion. The parties have until 8 May to reach a decision.

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Location

Ireland

Novartis reports rise in Q1 sales and profit

Under the leadership of Vasant Narasimhan, Novartis has reported a rise in sales and operating profit in the first quarter and completed two commercial transactions that will shape the company’s pharmaceutical portfolio in the months to come.

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Location

Switzerland

Analysis: Shire’s market value settles at well below bid value

After Shire Plc rejected a cash and stock offer of about $63 billion from Takeda Pharmaceutical Co and Allergan Plc reconsidered its statement that it was considering an offer for Dublin-based company, Shire’s market value settled at around $48.4 billion in trading Friday, reflecting investor’s disbelief that a higher bid might be in the offing

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Location

Ireland

Shire sells oncology assets

Shire Plc announced on 16 April that it has reached a deal to sell its oncology business to Servier SAS of France for $2.4 billion. The transaction was described by the company as a move to sharpen its focus on its portfolio for drugs treating rare diseases.

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Location

Ireland

Promethera acquires Baliopharm

The Belgium-based cell therapy company Promethera Biosciences SA has branched out into biologics with the acquisition of Baliopharm AG, a Swiss developer of therapies for immune-mediated inflammatory diseases and cancer. Financial details of the transaction were not disclosed.

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Location

Belgium

Funding for lung treatment

Enterprise Therapeutics Ltd, which is developing compounds for respiratory diseases by targeting unwanted mucus in the lungs, has raised £29 million in an oversubscribed Series B financing round co-led by Versant Ventures and the Novartis Venture Fund.

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Location

United Kingdom

GSK gene therapy deal

Orchard Therapeutics Ltd has come closer to its goal of becoming a global supplier of gene therapies following an agreement with GlaxoSmithKline Plc to take over that company’s portfolio of gene therapies for rare diseases.

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Location

United Kingdom

Wilson bought by Alexion

Wilson Therapeutics AB is to be bought by Alexion Pharmaceuticals Inc for $855 million in a deal that underscores the potential of the Swedish company’s lead product for Wilson disease, a rare genetic disorder that prevents the body from regulating copper. The disease can lead to liver and brain damage.

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Location

Sweden

GeNeuro targets retrovirus protein in MS

Recent positive data from a Phase 2b trial of patients with multiple sclerosis illustrates the role of pathogenic HERV-W protein in the genesis of the disease. The protein was neutralised by an antibody therapy developed by GeNeuro SA, the first time this has been shown in a clinical trial.

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Location

Switzerland

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