A large impairment charge for a failed diabetes trial pushed Evotec AG into a loss for 2014 in what was otherwise a year of higher revenue and expanding business opportunities. Impairment charges of €8.5 million gave rise to an operating loss of €6.4 million for the year and a net loss of €7 million.
SkyePharma will more than double is net investment in research and development this year with plans to advance the clinical development of a new treatment for chronic obstructive pulmonary disease (COPD) as well as new drug delivery technologies.
Essex Woodlands, one of the world’s largest investors in pharmaceuticals and healthcare services, has teamed up with the serial entrepreneur Bryan Morton to launch a new UK-based speciality pharmaceutical business with a portfolio of marketed products that generated $27 million in sales in 2014.
Denmark-based Zealand Pharma A/S has announced its third management shake-up in a little over four months with the departure of Torsten Hoffmann, chief scientific officer, and Agneta Svedberg, chief operating officer.
A cardiovascular outcomes study of Lyxumia (lixisenatide) in high-risk patients with Type 2 diabetes has shown that the drug is not inferior, although not superior, to placebo, according to the study’s sponsor, Sanofi SA. The Phase 3b trial is called ELIXA.
In a review of clinical and financial events during 2014, ArGEN-X highlighted the clinical progress of its lead antibody for CD70-positive cancers and disclosed new information about its preclinical pipeline. The lead product ARGX-110 is poised to start a US trial in Waldenström’s macroglobulinemia.
The Bill & Melinda Gates Foundation has taken the unusual step of making a $52 million equity investment in CureVac GmbH of Germany which has technology for making prophylactic vaccines that don’t require cold chain storage and distribution. The technology is based on messenger RNA.
Nicox SA, which is engaged in ophthalmic product development, has raised €27 million through a share placement with institutional investors in order to finance the marketing of its late stage products.
AbbVie Inc has raised the bar for oncology acquisitions with an agreement to buy Pharmacyclics Inc and its recently approved drug Imbruvica (ibrutinib) for blood cancers for a cash and share offer totaling $21 billion. The deal has been approved by the boards of both companies.
Newron Pharmaceuticals S.p.A reported a fall in revenue and a widening of its annual operating loss in 2014 as it prepared to bring its first product to market – an add-on treatment for mid-to-late stage Parkinson’s disease.