The Federal Court of Australia has upheld a challenge to AstraZeneca’s patents for the cholesterol medication, Crestor (rosuvastatin). The company said that it is reviewing its legal options which could include filing an appeal.
The Roche Group has announced that its former chief executive and current chairman of the board of directors, Franz Humer, will not be standing for re-election to the board in 2014. The company will nominate a successor in the autumn of 2013.
After the directors of Elan Corporation proposed a dividend based on 20% of the company’s royalty revenues from its sale of the multiple sclerosis drug Tysabri to Biogen Idec, the stock market reaction was muted.
A stem-cell encapsulation product designed to treat people with insulin-dependent diabetes has received fresh funding, and according to the developer, could enter the clinic in 2014.
Ablynx NV has announced that its private placement of shares was oversubscribed with the result that it raised €31.5 million by way of an accelerated bookbuilding procedure announced on 27 February.
Switzerland-based Santhera Pharmaceuticals said that it is exploring its strategic options which could include a merger or acquisition. This follows its voluntary withdrawal of Catena, a product for Friedreich’s Ataxia, from the Canadian market on 27 February.
UCB SA reported revenue growth of 7% to €3.46 billion in 2012, a year during which net sales of three new products exceeded for the first time those of the legacy product for epilepsy, Keppra (levetiracetam). The revenue outcome was in line with the company’s revised forecast in August.
Oxford BioMedica Plc ended 2012 with a renewed focus on its gene-based therapies for eye diseases including advancing a collaboration with the Mayo Clinic to develop a treatment for chronic glaucoma. Revenue last year included a heavy contribution from ocular milestones.
Ablynx NV has announced plans for a capital increase of around €20 million through a private placement of shares with institutional investors. The price of the shares will be set via an accelerated book-building process.
Ablynx NV said the current year should yield new partnering deals and advances in its existing partnerships while keeping cash burn at a minimum. Reporting its 2012 results on 27 February, the Belgian company outlined three potentially value-creating events involving its pipeline.