Addex Pharmaceuticals Ltd has announced positive top-line data from a Phase 2a trial of an allosteric modulator for the treatment of levodopa-induced dyskinesia in patients with Parkinson’s disease. Full data will be disclosed at a meeting later in 2012.
Evotec AG illustrated in 2011 that it is possible to out-perform the biotech sector by pursuing a drug discovery model that exploits Big Pharma’s need to outsource R&D. Revenue at the German company increased by 45% and net profit more than doubled.
ThromboGenics NV of Belgium has partnered its lead drug for sight impairment with the Alcon division of Novartis for potential fees of €375 million. Under the agreement, Alcon obtains marketing rights for Ocriplasmin (microplasmin) outside the US.
Zealand Pharma A/S became profitable in 2011 as its lead product for Type 2 diabetes reached the registration stage.The Danish enzyme-oriented biotech reported a 94% rise in revenue and other operating income to DKK 171 million and a 12.8% decline in operating expenses.
Elan Corporation Plc of Ireland said that it has received a net $381 million from the sale on the US Nasdaq market of 76% of its holdings in Alkermes Plc, a biopharmaceutical company with headquarters in Dublin and an R&D center in Waltham, Massachusetts, US.
Paion AG, which has pursued diversification in its drug development, is now opting for concentration, putting its efforts behind anaesthesia, and the drug candidate, remimazolam, a short-acting sedative that is ready to go into Phase 3 trials.
Alkermes Pharma Ireland Ltd has withdrawn its marketing authorisation application from the European Medicines Agency for the drug, megestrol, which was intended to be used to treat unexplained weight loss in patients with AIDS and cancer.
AstraZeneca Plc has filed a lawsuit against the US Food and Drug Administration seeking to overturn the agency’s decision to deny the company’s petition to withhold approval of generic versions of its antipsychotic, Seroquel (quetiapine).
Circassia Ltd of the UK has completed a Phase 2 study of its T-cell vaccine for ragweed allergy showing a significant reduction in symptoms, the company said. The company is backed by venture capital with Imperial Innovations holding 18.4%.
Basilea Pharmaceutica Ltd of Switzerland said that its Phase 3 US trial for the investigational compound alitretinoin for severe chronic hand eczema achieved ‘clear’ or ‘almost clear’ hands for 40% of patients, thus meeting the trial’s primary endpoint.