Paris-based Sofinnova Partners has seen another company from its Sofinnova Fund VI make an initial public offering of shares in the US – this time for Flexion Therapeutics Inc which is developing products for pain.
Rhenovia Pharma SAS has raised €540,000 in a Series B financing round from existing investors to support development of its technology for predicting the safety of new pharmaceutical compounds in patients with neurological diseases.
Actelion Ltd, which has a growing franchise in pulmonary arterial hypertension (PAH), reported a 4% rise in revenue in 2013 but net income soared by 49.2% on flat operating expenses. During the year it won regulatory approval for the new PAH drug Opsumit.
The Food and Drug Administration has given an insight into its attitude toward novel trial designs in a commentary written by Commissioner Margaret Hamburg and published online on 6 February.
H. Lundbeck A/S, which specialises in treatments for neurological disorders, reported a 3% increase in revenue to DKK 15.3 billion for 2013, but earnings before interest and tax fell by 7% to DKK 1.6 billion reflecting generic competition.
Circassia Ltd, which is testing a novel immunotherapy for four major allergies, has announced plans to float on the main market of the London Stock Exchange. At an estimated £175 million, the initial public offering would be one of the UK’s largest.
Shire Plc of Ireland said that two pivotal Phase 3 studies of the central nervous system drug Vyvanse (lisdexamfetamine dimesylate) have failed to show efficacy in patients with major depressive disorder (MDD).
Sanofi SA reported a 5.7% decline in net sales for 2013 to €32.9 billion and a 24% drop in net profit attributable to shareholders to €3.7 billion as product sales declined in all geographical areas apart from the emerging markets.
Innate Pharma SA of France has purchased rights to an immune checkpoint inhibitor from Novo Nordisk A/S of Denmark that is ready for Phase 2 development in oncology. Checkpoint inhibitors are currently attracting a lot of interest because they have shown an ability to thwart tumours.
More than a year under new management, AstraZeneca Plc is focused on rebuilding its late-stage pipeline. But it will take some time before this translates into revenue and profit growth for the company as a whole. Presenting the company’s 2013 results on 6 February, Pascal Soriot, the chief executive, said that both revenue and core earnings per share will drop again this year, after declines in 2013.