Circassia Pharmaceuticals Plc reported an operating loss of £19.5 million for the first six months of the year as spending nearly doubled on the development of four clinical-stage immunotherapies for allergy, the most advanced of which is in Phase 3.
MorphoSys AG reported a loss for the second quarter due largely to an unfavourable comparison with the previous period when earnings were inflated by a licensing deal with GlaxoSmithKline Plc. However, the company expects its loss for the year as a whole to be at the lowest end of previous guidance.
In separate decisions, regulatory authorities in the US and Europe have paved the way for the introduction of two new medicines for different blood cancers – substantially increasing the treatment options for patients with a number of rare cancers.
The Roche group posted a sales gain of 5% to CHF 22,974 million (€18,905 million) in the first half, driven by a 30% rise in US revenue from its breast cancer medicines. The gains were in constant currencies; measured in Swiss francs there was a decline of 1%.
GlaxoSmithKline Plc saw across-the-board declines in revenue and profit in the second quarter as competition increased in the US for its respiratory products and the consumer division was hit by supply interruptions for some medicines.
The Advocate General of the Court of Justice of the European Union has given a fresh interpretation to restrictions laid down by the court in 2011 on the patentability of human embryos for industrial or commercial purposes.
Swedish Orphan Biovitrum AB increased revenue by 27% in the second quarter on the back of demand for its rare disease therapy Orfadin for hereditary tyrosinaemia type 1. During the quarter, Sobi and its partner Biogen also received FDA approval for a new haemophilia A product.
AbbVie Inc has won the agreement of Shire Plc’s management to create a newly merged biopharmaceutical company that will be domiciled in the UK and listed on the New York Stock Exchange. The deal was secured on 18 July for a combination of shares and cash valued at £52.48 per share. The total deal value is about £32 billion.
Novartis reported a modest increase in sales and earnings in the second quarter as it continued to work on the divestment of two of its businesses, create a joint venture for a third, and expand its presence in oncology.
A Phase 3 trial of a combination therapy for metastatic melanoma has been stopped early because an interim analysis showed an overall survival benefit for the treatment group compared with the control, according to the developer GlaxoSmithKline Plc.