Novartis is to significantly expand its Sandoz generics business with the acquisition of Fougera Pharmaceuticals Inc, a US specialty dermatology business with net 2011 sales of $429 million. Novartis is paying $1.53 billion in cash.
Like many pharmaceutical companies, H. Lundbeck A/S expects that the loss of patent protection for key medicines will depress earnings in 2012. But offsetting this will be the potential launch of four new products over the next 18 months.
Galecto Biotech AB has expanded its investor syndicate and raised a further €5 million to support the development of its small-molecule modulators of the galectin family of proteins. Total capital raised thus far is €10 million.
Actelion Pharmaceuticals Ltd, a Swiss specialist in drugs for pulmonary arterial hypertension (PAH), has reported positive data from a Phase 3 trial for a new PAH agent that support the company’s quest to extend its franchise in this area.
GlaxoSmithKline Plc has announced the start of a new academic collaboration to discover future drugs, this time with Yale University in New Haven, Connecticut, US. The project will focus on proteolysis targeting chimeric molecules.
Despite a strong first quarter, Sanofi SA is bracing itself for an increase in generic competition this year with the result that group earnings per share could decline by as much as 15% for 2012 as a whole. The French company gave the update on 27 April.
The US Food and Drug Administration has approved the antibacterial medicine, Levaquin (levofloxacin), for the treatment of patients with plague, a rare disease that is estimated to affect up to 2,000 people per year.
The US Food and Drug Administration is asking farmers and veterinarians to restrict their use of antibiotics in food-producing animals in a further step towards protecting the effectiveness of currently marketed antibiotic medicines.
Shire Plc, the specialty pharmaceutical company headquartered in Dublin, reported a 21% increase in revenue to about $1.2 billion and a 12.8% gain in net income to $238.4 million in the first quarter of 2012.
GlaxoSmithKline Plc has highlighted projects in its late-stage pipeline in disclosing its financial results for the 2012 first quarter. These results showed an increase in revenue and operating profit of 2% as measured in constant exchange rates.