The Food and Drug Administration has approved a field trial of a mosquito that has been genetically modified in order to reduce the population of Aedes aegypti mosquitoes in the environment that carry the Zika virus.
France-based Nicox SA has secured €18 million in fresh capital to finance further studies of its investigational ophthalmology compounds, giving it a cash runway to pursue its ambition to be a player in the US market for eye-care products.
The Bristol-Myers Squibb Company’s checkpoint antibody Opdivo (nivolumab) hit a roadblock on 5 August when a Phase 3 study failed to meet its primary endpoint in patients with previously untreated non-small cell lung cancer.
After reviewing business in the first half year, Novo Nordisk A/S has reduced the upper range of its forecast for sales and operating profit for 2016. Sales for the full year are now expected to rise by 5% to 7%, compared with the company’s previous forecast of 5% to 9%.
Who would have thought it? An offering of 34 million shares of the Dutch contract manufacturing organisation Patheon NV raised a nominal $718.7 million at a price of $21 per share on the New York Stock Exchange in late July. Not only did institutional investors like the stock, they must have thought it was a fancy growth company – a super Crispr or perhaps an ultra CAR T Naamloze Vennootschap.
Reporting its first results since acquiring Baxalta Inc on 3 June, Shire Plc said that second quarter revenue rose by 56% to $2.43 billion while operating profit shrunk by 27% to $96.2 million, partly because of integration charges and higher amortisations.
GlaxoSmithKline Plc has deepened its commitment to the field of bioelectronic medicine with plans to set up a joint-venture company to develop implantable devices for chronic diseases. GSK will own 55% of the company Galvani Bioelectronics Ltd while Verily Life Sciences LLC will hold 45%.
MorphoSys AG said it expects an operating loss and sharply lower revenue this year but investment in research and development will increase in response to promising data from its early-stage antibody therapeutics.
Sanofi SA reported a double-digit increase in sales for rare disease and multiple sclerosis products in the second quarter. But this was not enough to offset a revenue decline for diabetes products, the company’s biggest franchise.
AstraZeneca Plc has confirmed that it is on course to return to growth by 2018 as income from new medicines overtakes losses from products that have come off patent in recent years. This year the company will be hardest hit by revenue losses from Crestor, the cholesterol medicine.