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Company News
Cytos bond restructuring approved by Swiss court
Monday 6 February 2012
Cytos Biotechnology Ltd has received approval from a court in the canton of Zurich to restructure a convertible bond valued at about $44.8 million. This follows a move to cut its workforce last August from 82 to10 and to reduce the size of its executive.
Location
Switzerland
Wilex to receive €2.6 million for cancer compound
Monday 6 February 2012
Wilex AG is set to receive up to €2.6 million from the German government to support the preclinical and clinical development of a small molecule cancer compound that targets the P13K signalling pathway.
Location
Germany
Novo Nordisk sees sales growth of 7-11%
Friday 3 February 2012
Novo Nordisk A/S expects revenue to grow by 7-11% this year even as some of its products face generic competition, and government healthcare reforms put downward pressure on prices. The company now claims a 24% share of the diabetes market.
Location
Denmark
Agennix stops trial in severe sepsis
Thursday 2 February 2012
Agennix AG of Germany has stopped further enrollment and treatment in a Phase 2/3 trial of talactoferrin, a genetically-engineered form of the human protein, lactoferrin, on safety grounds. The drug was being studied in sepsis.
Location
Germany
Zealand Pharma’s 2011 revenue doubles
Thursday 2 February 2012
Zealand Pharma A/S of Denmark said that revenue, plus other operating income, amounted to DKK 170.7 million (€23 million) in 2011, about double the DKK 88.2 million (€11.9 million) earned a year earlier. Income mainly came from alliances.
Location
Denmark
Targovax funds pancreatic cancer vaccine
Thursday 2 February 2012
A Norwegian start-up company,Targovax AS, has raised NOK 13 million (€1.7 million) in a Series A financing round to support the clinical development of a therapeutic vaccine against pancreatic cancer. The candidate product is a peptide vaccine that targets mutations on ras genes.
Location
Norway
AstraZeneca to eliminate 7,300 jobs
Thursday 2 February 2012
Citing the need to make further productivity gains, AstraZeneca Plc has announced plans to eliminate 7,300 jobs by the end of 2014 or about 12% of its 60,000-strong workforce. Of this number, 2,200 positions will be taken from research and development. This is the third company-wide restructuring programme since 2007 which altogether will see the loss of 28,900 jobs and yield annual savings estimated at $5.9 billion by the end of 2014.
Location
United Kingdom
Wilex successfully completes rights offering
Wednesday 1 February 2012
Wilex AG, which has an antibody treatment for renal cell cancer in a pivotal Stage 3 trial along with a companion diagnostic, has successfully completed a €9.93 million rights issue. Wilex is based in Munich, Germany.
Location
Germany
Roche reports 11% rise in core per-share earnings
Wednesday 1 February 2012
Roche delivered on its earnings targets for 2011, reporting an 11% increase in core earnings per share for the year, and a rise in net income, expressed in Swiss francs, of 7%. The company is proposing to raise its dividend by 3% to CHF 6.80 per share.
Location
Switzerland
Gleevec given expanded indication for gastrointestinal cancer
Wednesday 1 February 2012
The US Food and Drug Administration has approved an expansion of the approved use of Gleevec (imatinib) to increase the time during which the drug is effective in patients with CD117-positive gastrointestinal stromal tumours (GIST). The developer of the drug is Novartis.
Location
United States
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Recent Appointments
Carolyn Compton named CEO of Critical Path Institute
Friday February 3 2012
John Perkins appointed UK chief scientific advisor
Monday January 23 2012
Briggs Morrison to lead global medicines development at AstraZeneca
Wednesday January 11 2012
Russell Greig appointed chair of AM-Pharma supervisory board
Wednesday January 4 2012
Mark Bodmer to head immunology at UCB
Tuesday January 3 2012