After refocusing its business on discovery, and closing down a US subsidiary, Evotec AG has reported a rise in revenue for the first nine months of 2009. The company said that recent restructuring measures had put in on the ‘path to sustainability.’
Crucell NV, the Dutch antibody and vaccine developer, produced strong results for the 2009 third quarter and first nine months because of a high rate of growth of its vaccine products.
Sanofi-Aventis said that it has expanded its monoclonal antibody collaboration with Regeneron Pharmaceuticals Inc with a view to bringing four to five new antibody candidates into the clinic per year. It will spend $160 million annually on the project.
Qiagen NV, a Netherlands-based provider of sample and assay technologies, is to acquire the privately-held SABiosciences Corp of the US for $90 million in cash. The deal will give the Dutch company access to assay panels to analyse new drug targets.
Intercell AG said that the uptake of its new vaccine against Japanese encephalitis has been slower than expected resulting in only a moderate increase in product sales in the 2009 third quarter.
Neuropharm Group Plc said that it is in discussions that may or may not lead to an offer for the company. It further confirmed that it is seeking a sale or merger in order to realise the value of its pipeline.
Despite the uncertain economic climate, publicly-listed European biopharmaceutical companies reported some significant milestones in the nine months ended 30 September 2009.The following is a round-up of recent financial and R&D activity.
Pfizer Inc has decided to pay $1 million for access to a drug delivery technology developed by Flamel Technologies SA of France. The purpose is to develop a controlled-release formulation of a marketed therapeutic protein.
Genmab A/S has decided to sell its US manufacturing plant and eliminate 300 jobs in a bid to generate more savings. As a consequence, it has revised upward its expected operating loss for 2009. It also reported a delay in a milestone payment from GSK.
The publicly-traded Swedish speciality pharmaceutical company, Biovitrum AB, has announced plans to merge with closely-held Swedish Orphan International AB to create a new company with SEK 2 billion (€191 million) in revenues and an orphan drug franchise.