Wednesday, 15 August 2018 - 12:14
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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:…

Biotech BeiGene ready for listing in Hong Kong

China-based biotech BeiGene, listed in the US Nasdaq, has announced it pursues a listing in the Hong Kong stock market too. According to BeiGene’s management, this second listing should fetch the company at least $903m. The biotech will offer 65…

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….

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…

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…

Eli Lilly decides to list Elanco Animal Health division

US-based pharmaceutical group Eli Lilly has announced today in a press release that it has completed its strategic review of Elanco Animal Health. After 8 months, the Indianapolis-headquartered company has decided to list an ownership stake of less than 20…

Biotech Idorsia’s results meet expectations

Switzerland-based biotech Idorsia today has announced its Q2 2018 results. The company was established only one year ago after JnJ had acquired Actelion ($30bn), providing its founder  Jean-Paul Clozel the capital to create a new company. The results have reportedly…

GSK explores splitting group into two

The Financial Times has published between yesterday and today a series of articles about the recent decision by the major shareholders of GlaxoSmithKline’s to explore splitting the UK-based pharma group into two. The company’s shareholders have considered that creating two…

Novartis pays $1bn for Galapagos’ atopic dermatitis therapy

Novartis has announced it has acquired the rights to an atopic dermatitis treatment from Belgium-based Galapagos and Germany-based MorphoSys. The treatment, named MOR106, is a monoclonal antibody still undergoing clinical trials–a Phase II study was started in May 2018, but…

New mega-deal in pharma sector: PTC acquires Agilis for $945m

US-based PTC Therapeutics (New Jersey) yesterday announced, before trading started in Wall Street, that it had acquired Agilis Biotherapeutics (Cambridge, Massachusetts) for $945m. Agilis is a biotech developing gene therapies for rare diseases, especially central nervous system conditions. Agilis ’s…

Gilead keeps investing on cancer sector

Gilead has announced today to the financial community that it has signed an agreement with Netherlands-based Gadeta to develop a new range of TCR immunotherapies for the treatment of solid and blood cancer types. Thanks to the agreement, Gilead will…

Excellent second quarter for Novartis

Switzerland-based Novartis today has announced its second-quarter results, which have positively impressed investors, to the extent that the company’s shares have increased by 2.74% (Zurich). Sales increased by 5%–7% at constant currencies–to $13.158bn and EBIT has increased by 9% to…