Addex Therapeutics Ltd of Switzerland has reported top-line data from an early trial of an allosteric modulator drug in patients with schizophrenia. The data show that the compound, ADX71149, met its primary objectives of safety and tolerability.
AstraZeneca Plc has bought $25 million worth of shares in Regulus Therapeutics Inc in parallel with that company’s initial public offering on the Nasdaq over-the-counter market. Regulus is developing therapies targeting microRNAs, short ribonucleic acid molecules.
UCB SA has ended the first nine months of 2012 with revenue of €2,565 million, up by 5% from a year earlier and profit in line with expectations. The Belgian company has confirmed its 2012 forecast for sales in excess of €3.2 billion.
A new effort to accelerate research into treatments for cancer is being made by researchers in the US and China who will meet in Beijing from 4 to 6 November to exchange information on modern molecular medicines as well as Chinese medicine.
Novo Nordisk A/S, the largest producer of diabetes products, reported a 20% increase in sales in the third quarter to DKK 19.85 billion (€2.66 billion). Net profit rose by 35% to DKK 5.67 billion, giving a net profit margin of 28.6%.
The Lancet has published two Phase 3 studies of the Sanofi SA multiple sclerosis drug, Lemtrada (alemtuzumab), which show that the antibody significantly reduced relapse rates of the disease compared with the standard of care – Rebif (interferon beta 1a).
Ipsen SA of France expects to sustain impairment charges of about €120 million, after tax, following a bankruptcy filing by Inspiration Biopharmaceuticals Inc, its partner in a global haemophelia alliance. Assets from the alliance will be auctioned off.
GlaxoSmithKline Plc reported an 8% drop in group turnover in the third quarter of 2012 to £6.5 billion, a result that was significantly affected by government austerity measures in Europe and the impact of reference pricing in the region.
Clavis Pharma ASA expects to report top-line results before the end of 2012 from a pivotal trial of its personalized therapy for patients with pancreatic cancer – one of the most difficult-to-treat cancers.
Shire Plc has started a programme to buy back up to £500 million of its shares from the market in an apparent bid to woo investors following weak revenue growth in the third quarter. It has nevertheless confirmed its forecast for strong earnings growth in 2012.