Paion AG more than doubled its revenue in 2010 as a result of milestone payments from three partners relating to progress in the development of desmoteplase for stroke; remimazolam for sedation and glial growth factor 2 (GGF2) for heart failure.
Evotec AG reported both operating and net profits for 2010, the first time in the company’s 18-year history, as it started to reap the rewards of a strategic shift towards drug discovery alliances with other companies instead of solo development.
GlaxoSmithKline Plc said it is withdrawing its regulatory applications for dutasteride (Avodart) which was being investigated to reduce the risk of prostate cancer in men at an increased risk of the disease.
Sanofi-Aventis SA has fixed the terms of its offering of $7 billion of US dollar-denominated notes which will finance its acquisition of Genzyme Corp. The French multinational is acquiring the US company for about $20.1 billion.
The European Medicines Agency has launched an online registry which, for the first time, gives the public access to information on interventional clinical trials in the European Union that heretofore has only been available to the regulatory authorities in the member states.
Merck & Co Inc and Sanofi-Aventis SA have abruptly ended their agreement to create a joint animal health venture citing difficulties in getting approval from antitrust authorities in different jurisdictions in the world.
Novartis has announced the acquisition of 85% of a privately-held vaccine company in China, Zhejiang Tianyuan Bio-Pharmaceutical Co Ltd. Financial details were not disclosed. The company has an R&D and manufacturing site near Shanghai.
The European Medicines Agency’s management board has taken the unusual step of reminding its former executive director, Thomas Lönngren, of restrictions that apply to his professional activities for two years following his departure.
The Roche group said that its investigational hedgehog pathway inhibitor, vismodegib, which is being developed to treat advanced basal cell carcinoma, met its primary endpoint of overall response in a pivotal Phase 2 clinical study.
The European Medicine Agency’s main scientific committee has started safety reviews of three marketed medicines following reports of adverse events. The medicines are Revlimid, Vivaglobin and pioglitazone-containing drugs.