Bristol-Myers Squibb’s decision to acquire Medarex Inc for $2.1 billion has lifted the shares of antibody companies in both the US and Europe including that of Genmab A/S which was founded in 1999 on the basis of Medarex technology.
Studies suggesting that use of the diabetes treatment, Lantus (insulin glargine), could be linked to cancer have been investigated by the European Medicines Agency which has concluded that the medicine is safe to prescribe.
The Roche Group said that sales of its pharmaceuticals and diagnostics in 2009 should grow ‘well ahead’ of the market for these products, continuing a trend seen in the first half of the year.
Galápagos NV said that it has reached a milestone in its collaboration with Eli Lilly to develop new medicines for osteoporosis triggering a payment of €2.5 million. This brings total payments to it from the collaboration to €3.9 million.
New products contributed £377 million to total sales at GlaxoSmithKline in the 2009 second quarter, up by 42% from the first quarter. Included in this category were two vaccines, Rotarix for gastro-enteritis, and Cervarix for cervical cancer, which produced combined sales of £144 million.
Actelion Ltd, the Swiss specialist pharmaceutical company, has raised its forecast for both revenue and earnings before interest and tax in 2009 in light of a strong financial result in the first half of the year.
Elan Corporation Plc expects to see revenue grow by double-digit figures in 2009 after a strong first half during which its biopharmaceutical revenues, including sales of the multiple sclerosis drug, Tysabri, rose by 21.4%.
A new web-based portal designed to help scientists and clinicians locate the latest cancer research has been launched by the UK National Cancer Research Institute (NCRI). The project is being funded by the UK government, charities and industry.
The Pharming Group NV has confirmed plans to submit a new marketing authorisation application for its lead drug, Rhucin, to the European Medicines Agency in September 2009 and thereafter, to the US Food and Drug Administration.
Novartis AG reported net income of $4 billion at the 2009 first half and confirmed its forecast for a “strong operational performance” for the year as a whole. The company also said its cancer therapy, Afinitor, should be approved in the EU soon.