Company News

Ipsen SA expects to achieve its medium-term financial targets early, as sales of its speciality products continue to generate demand in both the US and Europe. The company reported strong growth in 2018 when group sales rose by 16.6% to €2.2 billion and operating profit advanced by 30.8% to €519.4 million.

“The momentum of the business is strong as we enter 2019 and are on track to deliver our 2020 financial targets to exceed €2.5 billion in sales and 30% margins, one year earlier,” David Meek, the chief executive, said in a statement on 14 February.

A gene therapy intended as a one-time treatment for dry age-related macular degeneration (AMD) has been successfully administered to a patient in the UK, marking the start of one of the first clinical trials of its kind. The therapy consists of a recombinant non-replicating adeno-associated viral (AAV) vector encoding a human complement factor.

AstraZeneca Plc delivered a 4% increase in product sales in 2018 – the first annual increase since 2009 – prompting the company to declare a return to growth after years of patent expiries and efforts to rebuild its pharmaceutical pipeline.

Driving the increase were higher sales of the lung cancer drug Tagrisso, the diabetes medicine Farxiga and the antiplatelet Brilinta. In addition, the company generated more than $600 million each from Lynparza and Imfinzi, both new cancer medicines.

A venture capital syndicate led by Netherlands-based Life Sciences Partners (LSP) is  providing $180 million to Arvelle Therapeutics GmbH, a recently created Swiss company, which has exclusive rights to develop and commercialise a new epilepsy drug in Europe.

The Series A funding is reportedly one of the largest rounds of its kind for a European-focused biopharmaceutical company. Besides LSP, the syndicate includes Andera Partners, NovaQuest Capital Management, BRV Capital Management and H.I.G. BioHealth Partners.

Grey Wolf Therapeutics Ltd, an Oxford, UK based immuno-oncology company, has raised £10 million in a Series A financing round to advance new small molecule drugs for cancer. The financing was provided by Andera Partners (formerly Edmond de Rothschild Investment Partners) and Canaan Partners of the US.

Following a multi-year restructuring programme, H. Lundbeck A/S delivered a gross profit margin of 29.3% in 2018, along with higher revenue and an increase in operating profit. Deborah Dunsire, who became chief executive on 1 September 2018, said the outcome was the company’s “best financial result ever.”

Group revenue was DKK 18.1 billion (€2.4 billion), up by 5% from a year earlier while operating profit was DKK 5.3 billion, up by 20%. The gross operating margin of 29.3% compares with a margin of 25.6% the year before and is above the company’s long-term target of 25%.

Sanofi SA is restructuring its portfolio to focus on developing new specialty care medicines including those for rare blood disorders, while maintaining a commitment to vaccines. The France-based multinational gave the R&D update with the release of its 2018 financial results which showed a decline in both group sales and net income.

Group sales were €34.5 billion, down by 1.7% while net income was €4.3 billion, down by 48.8%, in accordance with international financial reporting standards.

Avacta Group Plc, which is developing a new type of protein therapeutic, is to license certain assets to Moderna Therapeutics Inc against a potential therapeutic target which has been part of an ongoing research collaboration between the two companies. In an announcement on 4 February, Avacta said that Moderna has exercised an option to the technology. As a result, it may receive undisclosed payments for reaching future clinical development milestones, as well as royalties on future product sales.

The UK contract research organisation Metrion Biosciences Ltd has entered into a collaboration with LifeArc (formerly Medical Research Council Technology) to discover new drugs in the field of neurology. The goal is to identify selective small molecule modulators of a specific ion channel target which gene association studies have identified as likely to be involved with neurological diseases.

Patent litigation involving two of Europe’s most important antibody companies plus Janssen Biotech formally ended on 31 January after the parties agreed to drop their mutual claims. The lawsuit was brought by MorphoSys AG against Genmab A/S and its partner Janssen relating to Darzalex (daratumumab), the latter companies’ marketed drug for multiple myeloma.