Revenue and operating profits at H. Lundbeck A/S declined in the third quarter and first nine months. But a hefty increase in sales of new products limited the damage. Earnings before interest and taxes for 2014 are expected to range between breakeven and a drop of DKK 500 million.
AstraZeneca Plc saw revenue advance by 5% to $6,542 million in the third quarter – its third consecutive quarter of growth. However operating profit was down by 68% at $541 million, and earnings per share fell more steeply by 80% to $0.20, both on a reported basis. This reflected a spike in research and development spending and a higher cost of sales.
AstraZeneca Plc has expanded its oncology footprint with a deal to acquire a German diagnostics company, Definiens GmbH, and a separate agreement to conduct clinical trials of new combination treatments for cancer with Pharmacyclics Inc of the US.
Bristol-Myers Squibb Company has become the second large pharma company in recent weeks to invest in treatments for fibrosis with the signing of an option agreement to acquire Galecto Biotech AB of Denmark which has an early stage product for idiopathic pulmonary fibrosis (IPF).
Novo Nordisk A/S posted hefty gains in sales and operating profit for the third quarter and first nine months of 2014 driven by demand for the long-acting insulin product Levemir and the glucagon-like peptide-1 agonist (GLP-1) Victoza.
Sanofi SA is expecting flat sales for its diabetes division next year following increased price competition in the US for its lead product Lantus which accounts for about 18% of group sales. The forecast was made with the publication of the company’s third-quarter results on 28 October.
Cambridge Epigenetix Ltd (CEGX), a spinout of the University of Cambridge that makes epigenetics tools, has raised $5.5 million from venture capital organisations in a Series A round. The financing was led by New Science Ventures LLP of New York, New York.
Christopher Viehbacher has been removed as chief executive officer of Sanofi SA by a unanimous vote of the board of directors, the company announced early Wednesday.
Bristol-Myers Squibb Company has purchased an exclusive option to acquire F-star Alpha Ltd, a Cambridge, UK-based company which has a preclinical drug candidate targeting HER2-positive tumours including those that are refractory to trastuzumab and pertuzumab.
Novartis reported an improvement in profit margins for the third quarter with the result that operating profit increased by 14% from a year earlier to $2,980 million. In constant currencies the operating result was ahead by 18%.