News

MorphoSys AG reported a 16% increase in revenue in 2011 and a 24% rise in operating profit as its pharmaceutical partners paid significant sums for access to its antibody technology platform.

UCB SA achieved its revenue and earnings targets for 2011, while declaring that a  period of sustained growth lies ahead as its off-patent medicines are replaced by new proprietary products.

Galápagos NV has secured a lucrative licensing deal with Abbott Laboratories Inc for an oral Janus kinase (JAK) inhibitor for rheumatoid arthritis just three months after the drug showed efficacy in a four-week Phase 2a proof-of-concept study.

Ipsen SA reported a 5.5% annual increase in revenues for 2011 to €1.2 billion but exceptional charges of €127.2 million reduced its operating profit by 41.2% to €75.8 million.

Paion AG has decided to sell its remaining rights to the candidate stroke drug, desmoteplase, to H. Lundbeck A/S in order to bolster its cash position and concentrate on therapies for anaesthesia and critical care. The deal will yield €20.1 million.

The US Food and Drug Administration has revised the safety labels for statins, the cholesterol-lowering drugs, to include a warning about an increased risk of raised blood sugar levels and the development of Type 2 diabetes.

Two Russian oligarchs are making a second bid to buy the Danish antibody developer, Affitech A/S, after their first bid failed to give them the 90% ownership required to take the company private.

Venture-capital backed ArGEN-X BV of the Netherlands has entered into an antibody discovery and development agreement with Shire Plc that will use its technology to isolate and characterise antibodies against targets related to rare, genetic diseases.

Wilex AG produced substantial partnering income in 2011 from its lead drug candidate which has led to an improved outlook for 2012.

Angiochem Inc of Canada has secured a new global collaboration with GlaxoSmithKline Plc to develop a new enzyme replacement therapy for a lysosomal storage disease. The deal features an upfront payment of up to $31.5 million.