The US Food and Drug Administration has announced the approval of a new drug for Type 2 diabetes, Tradjenta (linagliptin). The drug was developed by Boehringer Ingelheim which has a commercialisation deal for the drug with Eli Lilly.
Wilex AG is to receive $19 million upfront as part of a licensing deal with Prometheus Laboratories Inc giving the San Diego-based company exclusive US commercialisation rights to its cancer antibody, Rencarex (girentuximab).
MorphoSys AG had a €18.8 million net profit in the 2011 first quarter on revenues that more than doubled as a consequence of a double-digit million Euro milestone payment from Novartis which installed Morphosys’s antibody library at its headquarters.
Four multinational pharmaceutical companies are among 10 new members of a consortium that has been formed to reach consensus on standards and tools for developing new drugs to treat tuberculosis that might then be adopted by drug regulators.
Novo Nordisk A/S continued to enjoy strong revenue from its diabetes franchise in the 2011 first quarter with sales up by 15% in Danish kroner and 11% in local currencies. The operating profit rose by 24%, giving an operating margin of 34.5%.
The US Food and Drug Administration has approved Zytiga (abiraterone acetate), in combination with prednisone, for the treatment of patients with late-stage castration-resistant prostate cancer. The developer is the J&J company, Centocor Ortho Biotech.
Sanofi-Aventis SA reported a 1.5% decline in net sales to €7,779 million in the first 2011quarter while its net income fell by 28.9% to €1,218 million.The results were influenced by an absence of orders for the H1N1 flu vaccine and generic competition.
Generic competition and government austerity measures contributed to a 4% decline in 2011 first-quarter revenue at AstraZeneca Plc while core operating profit fell by 5% . But earnings per share rose by 10% helped by a recent tax settlement.
GlaxoSmithKline Plc is proposing to raise its interim dividend by 7% and continue its programme of share buybacks despite a 10% decline in sales in the 2011 first quarter. Share buybacks for the year will be at the top end of the predicted £1-£2 billion range.
Silence Therapeutics Plc is proposing to raise up to £5.5 million through the issue of new shares to institutional investors and directors, and a possible additional £1 million in an open offer, which together would support its RNAi drug development platform.