Genmab A/S, the Danish producer of antibody therapeutics for cancer, expects its 2009 revenue to rise 61% to DKK 1.2 billion following a gain of 41% in 2008. The main reason is the company’s collaboration with GlaxoSmithKline which is producing a hefty stream of milestone payments.
MorphoSys AG is looking to double its expenditure on technology and product development in 2009 to between €18 million and €20 million following a strong performance in 2008 when turnover rose 16% to €71.6 million and net profit advanced 14.8% to €13.2 million.
Addex Pharmaceuticals Ltd said that its cash resources are sufficient to cover its operations until early 2012 without the need to raise additional capital. The forecast was made on 24 February 2009 with the release of its 2008 results.
Shares of the Neuropharm Group Plc remained weak at sharply lower levels following news that its Phase 3 trial of a treatment for autism failed to show efficacy. The preliminary trial results were announced on 18 February 2009.
Following the failure of a Phase 3 trial of its lead wound-care product, the Intercytex Group Plc has announced plans to sell its business or merge with another company. The UK company disclosed the start of the formal offer period on 23 February 2009.
Shire Plc, the UK specialty pharmaceutical company, is predicting a decline in earnings in 2009 due mainly to the loss of patent protection for its lead drug, Adderall. But it said the setback would be temporary because new product sales are soaring and new acquisitions will bolster income.
Antisoma Plc expects that milestone payments from Novartis, together with the possible sale or partnering of a recently approved cancer drug, should enable it to fund its drug development programmes until the middle of 2011.
Pronova BioPharma ASA has accelerated construction of its new plant in Kalundborg, Denmark in the face of rising demand for its omega-3 derived prescription drug for hypertriglyceridemia, Omacor/Lo
Sanofi-aventis reported higher sales and earnings in the fourth quarter and full year in 2008 on an adjusted basis. But expressed under International Financial Reporting Standards (IFRS), sales and earnings in 2008 showed a decline.
Elan Corporation Plc said that its previously-announced review of strategic options, including a possible sale of shares to a minority investor, is underway. But shareholders representing 37% of the company’s stock say that the possible sale of a stake to another pharmaceutical company would be unacceptable.