Company News

H. Lundbeck A/S reported a decline in revenue for the third quarter and first nine months as a result of generic competition and downward pressure on prices from European buying agents.

MorphoSys AG has lowered its 2012 revenue forecast to €70 to €75 million from €75 to €80 million as certain commercial agreements have taken longer to conclude than expected. Revenue in 2011 was €100.8 million, reflecting a one-off technology fee.

Novartis has expanded its strategic alliance with MorphoSys AG to incorporate the German company’s newest antibody library and antibody selection technologies. Financial terms were not disclosed.

After a trial delay that triggered a corporate restructuring, Pharming Group NV of the Netherlands has now reported positive clinical data for Ruconest, its lead drug for hereditary angioedema (HAE). A US regulatory filing is expected in the 2013 first half.

Cytos Biotechnology AG reported a smaller loss in the third quarter and first nine months of 2012 following a reorganisation and refinancing that left the Swiss company with a reduced pipeline. The lead product is an asthma immunotherapy.

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.

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).