Company News

Crucell NV has reaffirmed its 20% growth target for revenue and other operating income in 2008 following a strong financial performance in the first quarter.

Shares of Allergy Therapeutics Plc rose by more than 24% following the company’s announcement on 14 May 2008 that a Phase 3 trial of its hayfever vaccine, Pollinex Quattro, had met its primary efficacy endpoints. Allergy Therapeutics said it would apply for marketing approval in the European Union during first quarter of 2009.

MorphoSys AG, the German biotechnology company, achieved a net profit of €3.3 million in the 2008 first quarter after €0.6 million a year earlier. The operating profit trebled to €4.1 million from €1.3 million on revenue of €16.3 million, against €14.1 million.

MediGene AG expects to see a significant increase in revenue in 2008 on sales of   speciality products for the treatment of prostate cancer (Eligard), genital warts (Veregen), and rosacea (Oracea).

Evotec AG is refocusing its business on drug discovery and development following its acquisition of Renovis, Inc, of South San Francisco, California.

Vernalis Plc said that a restructuring of its business in the wake of a regulatory setback for its migraine product, Frova (frovatriptan succinate), is well underway and should produce results during the course of 2008.

A restructuring of its business has put Acambis Plc in a position to raise a net £40 million with a fully underwritten share offering, despite the turbulence of world stock markets. 

Santo Holding (Deutschland) GmbH, the financing vehicle of the Strüngmann brothers, will have two seats on the supervisory board of 4SC AG, whose shareholders rejected an unsolicited takeover bid from Santo in January 2008.

Intercytex Group Plc said that it has been asked to participate in a US government-funded institute that will investigate the use of regenerative medicine to develop treatments for injuries sustained by soldiers in battlefields around the world. The London-Stock-Exchange listed company is the only non-US participant in the institute.

In a quarterly business update, Pharming Group NV has confirmed that it plans to re-submit its application for the recombinant C1 inhibitor, Rhucin, to the European Medicines Agency with additional clinical data. In parallel, it will pursue registration for the product in markets outside the European Union.