Crucell NV, the Dutch vaccine developer and producer, reported its first ever annual profit in 2008, which was driven by strong fourth quarter sales of its paediatric, travel and endemic vaccines as well as higher license revenue.
GlaxoSmithKline Plc is expanding its restructuring programme to include the elimination of more jobs and to support a change in its business model
Roche Holding AG reported stagnant sales and earnings in 2008 because the strength of its accounting currency, the Swiss franc, wiped out gains in local currencies.
Genmab A/S of Denmark and its partner, GlaxoSmithKline, are asking the US Food and Drug Administration to approve ofatumumab, a fully human monoclonal antibody, for the treatment of patients with chronic lymphocytic leukemia (CLL).
Alnylam to start Phase 1 trial of RNAi therapeutic
The US Food and Drug Administration has authorised Alnylam Pharmaceuticals Inc to start enrolling patients in a Phase 1 study of an RNAi therapeutic to treat liver cancers. The compound, ALN-VSP, is designed to target two genes which are critical in the growth and development of cancer: kinesin spindle protein which is required for tumour proliferation and vascular endothelial growth factor, which is required for tumour growth. The proposed study is a multi-center, open label, dose escalation trial to evaluate the safety, tolerability, pharmacokinetics and pharmacodynamics of intravenous ALN-VSP in patients with advanced solid tumours with liver involvement
Novartis AG has announced a 25% increase in its dividend for 2008 to CHF 2 per share following a double-digit rise in net income over the past year. The Swiss-based multinational said it expects record results again in 2009.
Galapagos NV, the Belgian-based drug discovery group, said that income from partnerships as well as prospective orders for its service division, BioFocus DPI, should deliver revenues of €100 million in 2009 and a year-end cash balance of €20 million. In 2008, the company achieved revenue of €77 million, up by 17% from the previous year. Cash on 31 December was €27 million.
Orexo AB of Sweden has sold exclusive marketing and distribution rights in China for Abstral, indicated for breakthrough cancer pain, for upfront and potential milestone payments valued at up to $4.75 million. It will also receive an undisclosed margin on any product sales.
Crucell NV of the Netherlands said that Wyeth has withdrawn from discussions about a possible merger between the two companies. The announcement follows reports that Wyeth is the subject of a takeover bid by Pfizer Inc. The Dutch company did not comment further.
The Intercytex Group Plc, which specialises in regenerative medicine, announced on 26 January 2008 that it is cutting its staff of 76 in half to preserve cash.