News

Antisoma Plc has announced plans to acquire the closely-held US oncology company, Xanthus Pharmaceuticals, Inc. of Cambridge, Massachusetts in a share transaction valued at £26.8 million.

Ark Therapeutics Group Plc said that results of a corroborative Phase 3 study of its gene-therapy treatment for malignant glioma, Cerepro (sitimagene ceradenovec), should be available in the third quarter of 2008, paving the way for the filing of a marketing authorisation application for the product in Europe.

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

Crucell NV has reaffirmed its 20% growth target for revenue and other operating income in 2008 following a strong financial performance in the first quarter.

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 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 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).

Evotec AG is refocusing its business on drug discovery and development following its acquisition of Renovis, Inc, of South San Francisco, California.

Solvay Pharmaceuticals SA has made a friendly offer to acquire all of the shares of Innogenetics NV that it doesn’t already own in a cash transaction initially valued at €177.6 million.

The Innovative Medicines Initiative (IMI) has launched its first call to researchers to submit proposals to work with the pharmaceutical industry to investigate ways of speeding up the drug development process.