Sanofi SA reported sales of €8.8 billion in the first quarter, up by 12.3% from a year earlier on strong sales of veterinary drugs and medicines from the company’s Genzyme unit. Diabetes product sales however fell by 3.2% on a decline in sales for Lantus.
Shire Plc has highlighted the growth of its commercial and clinical-stage portfolios in a report on the 2015 first quarter, which showed an 11% rise in revenue to $1.49 billion, and a 55% rise in operating income to $475 million.
Novo Nordisk A/S, which claims 27% of the global market for diabetes care, reported a 24% increase in sales in the 2015 first quarter to DKK 25.2 billion (€3.4 billion) while its operating profit soared by 73% to DKK 13.9 billion.
Crispr Therapeutics AG of Basel, Switzerland and Cambridge, Massachusetts has raised an additional $64 million in venture capital to progress its gene-editing technology towards the development of new medicines. The financing was led by SR One, the venture capital arm of GlaxoSmithKline Plc, and Celgene Corp.
GW Pharmaceuticals Plc, a developer of cannabinoid medicines, is raising $179.2 million through a share offering on the Nasdaq exchange in a continuation of a trend in which European pharmaceutical companies increasingly finance themselves in the US.
Nordic Nanovector ASA, which is developing a radio-immunotherapy for non-Hodgkin lymphomas, has raised a NOK 575 million (€68.4 million) in an initial public offering of its shares on the Oslo Stock Exchange. ABG Sundal Collier Norge ASA and DBN ASA led the syndicate.
BioInvent International AB plans to raise SEK 75 million (€8 million) in a rights issue to investors to further develop its anti-cancer antibodies. Shareholders of record on 24 April will receive rights to purchase four new shares for every nine held.
Perrigo Company plc, the Ireland-based pharmaceutical conglomerate, has rejected a takeover bid from the global generics manufacturer Mylan NV (formerly Mylan Inc) while Mylan itself has spurned a takeover approach from Israel-based Teva Pharmaceuticals Industry Ltd.
AstraZeneca Plc has announced two new deals in immuno-oncology that will exploit the potential of its checkpoint inhibitor MED14736 in both haematological and solid tumour cancers. The monoclonal antibody is currently in Phase 3 development for non-small cell lung cancer and head and neck cancer.
The strong dollar had a negative impact on Novartis’ financial results for the first quarter offsetting strong volume growth and productivity gains. Net sales were $11.9 billion, down by 7% from a year earlier and the operating profit was $2.8 billion, down by 1%. The company reported a net income of $2.3 billion for the period, down by 6%.