Wilex AG has announced plans to raise approximately €17.3 million in cash, and to convert an existing loan into equity, ahead of a meeting with the FDA to discuss a further development strategy for its cancer diagnostic Redectane.
The US Food and Drug Administration has approved a new angiogenesis inhibitor, Zaltrap (ziv-aflibercept), for the treatment of metastatic colorectal cancer in combination with chemotherapy. Regeneron Pharmaceuticals Inc and Sanofi SA are co-developers.
On the strength of its new collaboration with Abbott Laboratories Inc in rheumatoid arthritis, Galapagos is predicting that revenue this year will climb to €150 million- above the €115.3 million reported in 2011 – and that the group will show a net profit.
The US Food and Drug Administration has lifted a clinical hold – imposed in 2007 – on an allergy vaccine trial that was being conducted by Allergy Therapeutics Plc, paving the way for further testing and commercialisation of the product.
GlaxoSmithKline Plc has announced the completion of its acquisition of Human Genome Sciences Inc (HGS) for $3.6 billion, or approximately $3 billion net of cash and debt. All of the outstanding shares of HGS were bought for $14.25 per share in cash.
MorphoSys AG has confirmed its guidance for revenue and profit this year despite a drop in income and a loss for the first six months. The first-half figures compare unfavourably with a year earlier when the company received a huge technology payment.
The Pharming Group NV has secured €10 million in new working capital from a group of institutional investors in order to enable it to complete a pivotal Phase 3 US study of its recombinant protein therapy, Ruconest, for hereditary angioedema (HAE).
Vernalis Plc of the UK saw a 77% increase in income from pharmaceutical collaborations in the first half of 2012, indicating broadening support for its structure-based approach to drug design and discovery. Overall, revenue was up by 36% to £5.9 million.
The financial results of Shire Plc released on 1 August 2012 indicate that the US based and Dublin headquartered company will be able to withstand genetic encroachment on its franchise for treating children with ADHD (attention deficit, hyperactivity disorder).
Following strong sales of its three core products, UCB SA has upgraded its revenue forecast for 2012 and now expects sales will be in excess of €3.2 billion, aligning it more closely with 2011 when revenue was €3,246 million. UCB had been anticipating revenue of around €3.1 billion.