Pfizer Inc’s potential bid for AstraZeneca Plc appeared to be gaining traction following a Pfizer conference with analysts on 28 April and a formal declaration of interest to the London Stock Exchange earlier the same day.
AstraZeneca Plc has issued a statement saying that in the absence of a “specific and attractive proposal” from Pfizer Inc to merge, it would be inappropriate to engage in discussions on the matter.
In a statement to the London Stock Exchange on 28 April, Pfizer Inc confirmed that it has approached AstraZeneca Plc twice about a possible merger, and remains interested in a transaction should this be unanimously recommended by AstraZeneca’s directors.
About 4,000 trials are ongoing in cell-based technology – of which an estimated 1,058 are novel treatments. The cell therapy industry would be transformed if just 100 of these novel treatments successfully completed clinical development and reached the market.
Novartis had net sales of $14 billion for the first quarter, a rise of 3% in constant currency terms and driven by products that have been on the market since 2009.
AstraZeneca Plc secured a 3% gain in first quarter revenue to $6.4 billion leading the chief executive Pascal Soriot to declare that the company is gaining momentum after 14 quarters of no growth.
Pharming Group NV has raised €14.7 million with a private placement of its shares and warrants with existing institutional shareholders to support the expected launch of Ruconest, a treatment for hereditary angioedema.
The French biotechnology company TxCell SA has secured €16.2 million in an initial public offering of its shares on the Euronext stock exchange in Paris, enabling it to advance the clinical development of its lead product Ovasave for refractory Crohn’s disease.
Novartis, GlaxoSmithKline Plc and Eli Lilly and Company announced a fundamental reshaping of their businesses on 22 April while yet-to-be denied rumours circulated on global stock markets of an imminent bid by Pfizer Inc for AstraZeneca Plc.
Generic competition and difficult market conditions in Germany are expected to weigh on Boehringer Ingelheim GmbH’s business this year with the result that net sales will likely be unchanged from the €14.1 billion reported in 2013.