Biovitrum implements its strategic restructuring

Biovitrum, the Swedish pharmaceutical company, said on 15 May 2008 that it is implementing its strategic restructuring plan of November 2007. The plan involves licensing out or terminating most of its primary care products while bringing its niche products all the way to market

Allergy Therapeutics shares soar on Phase 3 trial results

Shares of Allergy Therapeutics Plc rose by more than 24% following the company’s announcement on 14 May 2008 that a Phase 3 trial of its hayfever vaccine, Pollinex Quattro, had met its primary efficacy endpoints. Allergy Therapeutics said it would apply for marketing approval in the European Union during first quarter of 2009.

MorphoSys increases net profit in 2008 first quarter

MorphoSys AG, the German biotechnology company, achieved a net profit of €3.3 million in the 2008 first quarter after €0.6 million a year earlier. The operating profit trebled to €4.1 million from €1.3 million on revenue of €16.3 million, against €14.1 million.

MediGene expects revenue to increase in 2008

MediGene AG expects to see a significant increase in revenue in 2008 on sales of   speciality products for the treatment of prostate cancer (Eligard), genital warts (Veregen), and rosacea (Oracea).