Operating income at Novartis declined by 17% in the first quarter to $2.8 billion as the company was affected by less profitable outcomes for its generics, consumer health and vaccines and diagnostics businesses. Pharmaceutical income was flat.
A syndicate led by Forbion Capital Partners of the Netherlands has secured $25 million in Series D financing for Argos Therapeutics Inc of the US to support a Phase 3 study of the company’s immunotherapy for metastatic renal cell carcinoma. The trial is being run under an SPA.
AstraZeneca Plc is to acquire Ardea Biosciences Inc of San Diego, California which has a late-stage product for gout. The agreed deal values the US company at $1.26 billion, including the target company’s cash balances. Ardea is listed on Nasdaq.
Dapagliflozin, a treatment for Type 2 diabetes that has been co-developed by AstraZeneca Plc and Bristol-Myers Squibb Company, has been recommended for approval in Europe. In January, the same drug was turned down by the FDA.
SkyePharma Plc’s asthma treatment, Flutiform, has been given a positive opinion by the European Medicines Agency’s Committee for Medicinal Products for Human Use. This brings the drug one step closer to a marketing authorisation in Europe.
Two Phase 3 studies of an ultra-long-acting insulin, degludec, and developed by Novo Nordisk A/S, have been published in the 21 April edition of The Lancet. The data were originally disclosed at two scientific conferences in 2011.
SkyePharma Plc has confirmed receipt of a previously forecasted milestone payment amounting to $10 million in connection with the launch of a new anaesthetic in the US. The payment has been made by Pacira Pharmaceuticals Inc.
Human Genome Sciences Inc has rejected as inadequate an unsolicited takeover bid from GlaxoSmithKline Plc that is priced at $13 per share in cash. The offer values the company at approximately $2.59 billion, according to the Associated Press.
Sanofi SA has entered into a collaboration with the Michael J. Fox Foundation to conduct a clinical trial to assess the safety and tolerability of a Sanofi phosphodiesterase type 4 inhibitor for patients with Parkinson’s disease.
The Roche Group has decided not to extend the deadline of 20 April 2012 on its offer for Illumina Inc of $51.00 per share.