Elan Corporation Plc said that its drug formulation and manufacturing business, Elan Drug Technologies (EDT), is to merge with Alkermes Inc to create a new company with a portfolio of 25 marketed products and annual revenue of $450 million.
Rigel Pharmaceuticals Inc announced that Pfizer Inc is returning full rights to its early clinical-stage asthma programme, R343, as a result of Pfizer’s decision to exit from the allergy and respiratory therapeutic area in research and development.
Novartis has announced US Food and Drug Administration approval of Afinitor (everolimus) for the treatment of progressive neuroendocrine tumours of pancreatic origin (NET). This is in line with a recommendation from an FDA advisory panel.
Two publicly-listed French biopharmaceutical companies, Innate Pharma SA and Transgene SA, have announced the creation of a new, joint venture company that will provide immunomonitoring services to the healthcare industry.
Clavis Pharma ASA has started recruiting patients for a Phase 3 trial of its lead product for late-stage acute myeloid leukaemia. The clinical update was issued with its first quarter results which showed cash of NOK 333 million on 31 March.
Intercell AG has announced that Thomas Lingelbach, the company’s chief operating officer, will take over as chief executive on 10 May following the resignation of Gerd Zettlmeissl, who is stepping down as CEO to pursue other interests.
Geron Corp. is set to receive $25 million from the California Institute for Regenerative Medicine to support the clinical work on its stem-cell therapy for spinal cord injury. The money is a loan with repayment contingent on product success.
Molecular Partners AG is set to receive $45 million upfront from Allergan Inc for the exclusive global rights to a therapeutic protein in Phase 2 development for the treatment of retinal diseases. The molecule targets VEGF-A.
H. Lundbeck A/S achieved 2011 first-quarter revenue of DKK 4,103 million (€550 million), up by 7% from a year earlier and an EBITDA operating profit of DKK 1,540 million, up by 4%. The company had an operating margin of 37.5%.
Oxford BioMedica Plc, a developer of gene-based medicines and cancer vaccines, has expanded a licensing agreement with Pfizer Inc giving the US multinational non-exclusive rights to its antibody technology for diagnostic use.