H. Lundbeck A/S of Denmark will substantially broaden its pipeline of central nervous system (CNS) products following the acquisition of the US-based specialty pharmaceutical company, Ovation Pharmaceuticals, Inc.
The all-cash acquisition, which is valued at up to $900 million, was announced on 9 February 2009. It is expected to close in March.
Crucell NV, the Dutch vaccine developer and producer, reported its first ever annual profit in 2008, which was driven by strong fourth quarter sales of its paediatric, travel and endemic vaccines as well as higher license revenue.
GlaxoSmithKline Plc is expanding its restructuring programme to include the elimination of more jobs and to support a change in its business model
Roche Holding AG reported stagnant sales and earnings in 2008 because the strength of its accounting currency, the Swiss franc, wiped out gains in local currencies.
The Dutch public-private partnership, Top Institute Pharma (TI Pharma), is helping fund a project aimed at developing a vaccine for Chikungunya, an insect-borne virus that can cause disability. There is currently no vaccine available for the disease. The project has a budget of €2.3 million which will be jointly funded by TI Pharma and members of the research consortia.
Celtic Pharma Holdings Advisors LLP (CPHA) has picked a diagnostic devices company for the first investment of its new fund, Celtic Pharma Holdings II LP (CP2).
The Bill & Melinda Gates Foundation is to spend $34 million over 11 years on programmes to reduce the spread of tropical diseases in the poorest countries of the world. The funding was announced on 30 January 2009, and follows an announcement by Mr Gates that the foundation will significantly increase spending in 2009 on a range of projects, including biomedical research and healthcare.
DNA Therapeutics SA, a privately-owned French company with a novel method of weakening cancerous tumours, has obtained commitments for €2.2 million of A-round financing provided certain milestones are met.
Bavarian Nordic A/S of Denmark has re-filed a patent infringement suit against Oxford BioMedica Plc in the US District Court for the Southern District of California claiming infringement of Bavarian Nordic’s US patents relating to a viral vector, Oxford BioMedica said.
Genmab A/S of Denmark and its partner, GlaxoSmithKline, are asking the US Food and Drug Administration to approve ofatumumab, a fully human monoclonal antibody, for the treatment of patients with chronic lymphocytic leukemia (CLL).