Company News

Shire Plc, the British speciality pharmaceutical company, posted a decline in revenue because of generic competition in the third quarter.

Sanofi-Aventis has raised its earnings guidance for 2009 in light of expected income in the fourth quarter from sales of its pandemic flu vaccine. Earnings per share are now expected to rise by 11% this year, instead of the previously-forecast 10% rise.

Proximagen Neuroscience Plc, a King’s College London spin-out that recently raised £50 million on Britain’s junior stock market, has expanded its portfolio of CNS drug candidates with the acquisition of Cambridge Biotechnology Ltd.

Unexpectedly strong US sales of an off-patent beta-blocker, together with sales of a new pandemic flu vaccine, drove up revenue at AstraZeneca Plc by 10% in the third quarter. For 2009, the company sees sales growth in the mid-to-high single digits.

GlaxoSmithKline Plc reported a 3% increase in turnover at constant exchange rates in the 2009 third quarter as it shifted its marketing efforts towards the developing world, Japan and consumer healthcare.

MorphoSys AG expects that outlays for product development and technology in 2009 will amount to between €18 million to €20 million, more than double the level a year earlier. Revenue at the German antibody company is forecast at €80 to €85 million.

Genmab A/S is set to receive DKK 116 million ($23 million) from GlaxoSmithKline following the US Food and Drug Administration’s approval of its monoclonal antibody for cancer, Arzerra (ofatumumab).

The European Medicines Agency has announced a review of the multiple sclerosis drug, Tysabri (natalizumab), in light of reports of 23 cases where patients taking the drug have developed a rare brain infection known as progressive multifocal leukoencaphalopathy (PML).

The German drug discovery and development company, 4SC AG, has announced plans to raise €25 to €30 million in a rights issue to existing shareholders. The new shares are being offered at €3 per share, or at about the current market price.

Novartis International AG has warned that foreign exchange losses could significantly reduce the growth in its reported results in 2009 even as the underlying performance of its pharmaceutical business remains strong.