Wednesday, 15 August 2018 - 12:14
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Companies

Q2 2018: Stada shows first results of price cut plan

Germany’s generics and OTCs manufacturer Stada has announced this week its second quarter financial results. Revenues kept the Q2 2017 level and were up 6% at constant exchange rates, while EBITDA increased by 26% to €142m. The group CEO Claudio…

Aralez Pharmaceuticals declares bankruptcy and sells assets

Canada-based Aralez Pharmaceuticals has started today filing for bankruptcy and has simultaneously announced it will sell all its assets. The Canada-based group had been on the verge of bankruptcy for over one year, due to the US generics market deteriorating:…

Intercept superstar: revenues exceeding estimates, solid plans and shares rise 10%

US-based biotech Intercept Pharmaceuticals yesterday announced its third quarter results. Investors were satisfied, indeed Intercept’s shares rose by 10% over few hours. Intercept’s main asset is undoubtedly Ocaliva (obeticholic acid), approved for the treatment of  primary biliary cholangitis. It  yielded…

Takeda announces new series of non-core-asset sales

In announcing the Q2 2018 results, Takeda Pharmaceuticals CEO Christopher Weber announced that his group still has various non-core assets to sell in order to fund the GBP46bn acquisition of Shire. As analysts asked which assets will be put up…

Bristol-Myers Squibb’s Opdivo approved in Europe for melanoma

Bristol-Myers Squibb’s shares opened the trading day with an impressive +2% as the US-based group announced that EMA had approved Opdivo (nivolumab) for the treatment of melanoma with involvement of lymph nodes or metastatic disease (Phases III and IV). Opdivo,…

Bayer sells dermatology unit to Leo Pharma

Denmark-based Leo Pharma yesterday announced it had acquired Bayer’s dermatology unit. The acquisition covers a series of prescription products for the treatment of skin diseases such as acne (Skinoren), fungal infections (Travogen) and a significant number of topical steroid preparations…

UCB sold Innere Medizin to private equity

UCB has announced it has sold its German subsidiary Innere Medizin to private equity Paragon Partners. Innere Medizin employs 200 people and markets pharmaceutical specialties in German speaking countries. The parties have not provided the financial details of the transaction….

JnJ acquires natural OTC manufacturer Zarbee’s Naturals

Johnson & Johnson today has announced it has acquired Zarbee’s Naturals, a producer of natural OTCs for children, from private equity L. Catterton. Zarbee’s Naturals was founded in Utah in 2008 and sells natural OTCs: these are highly demanded products,…

GSK closes down manufacturing site in Bangladesh with 1,000 employees

GlaxoSmithKline will definitely close down its Bangladesh production site, which will result in 1,000 employees to lose their jobs. The Britain-based multinational will continue its business in the country through GSK Bangladesh Ltd, of which the state-run Investment Corporation of…

Quarter exceeding expectations for Bristol-Myers Squibb

Bristol-Myers Squibb yesterday reported its Q2 2018 financial results, which have not convinced analysts and investors, indeed shares have declined by over 1.5%, despite revenues have increased by 11% ($5.75m), with a 71% gross margin. Opdivo is still the group’s…

Switzerland is the cradle of European biotech industry

The Swiss economic-financial daily Finanz und Wirstschaft yesterday published a detailed analysis of the Swiss biotech industry. Switzerland is undoubtedly the European biotech hub, housing as many as 237 biotech companies, 14 of which listed on the stocks market. Investors…

New disappointing quarter from Gilead, CEO announces resignation

Another disappointing quarter from biotech Gilead – its shares have lost 2.4% in after-market trading as investors have lost patience and interest in the company’s shares. In addition to announcing the results, CEO John Milligan has announced he will leave…

GSK announces GBP400m price cut plan

The GSK group CEO Emma Walmsley today has announced a price cut plan aimed at saving a minimum of GBP400m pa before 2021. The cuts will mainly affect the supply chain, but also costs of administration departments will be significantly…

GSK acquires part of 23andme for $300m to stimulate drug discovery

GlaxoSmithKline has announced today it has acquired part of the California-based biotech engineering company 23andme from investors Sequoia Capital and Google Ventures, plus some minor investors. As part of the agreement, GSK will pay $300m to access 23andme’s rich database,…