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 such as venture capitals and small funds tend to invest on these companies until they start Phase II and Phase III clinical trials. This phase is the last step before an approval application, which requires financial resources that only a listing or a cooperation with a pharma multinational can provide. Indeed, a Phase III clinical trial in the US is estimated to cost up to $250m. Of the 14 listed companies, only Vifor Pharma has achieved to commercialize its products thanks to Ferlnject and Venofer. Vifor has a market capitalization of approximately CHF12bn and has been listed (Zurich) since 2003. The recently established Idorsia, however, is the most interesting Swiss biotech. Indeed, despite it isn’t still marketing any product and its capitalization is as little as CHF3bn, Idorsia has one of the most interesting pipelines in the industry, with as many as three candidates undergoing Phase III clinical trials and many cooperation agreements with the big pharma. Biotechs Evolva and Cosmo are significant since they are about to launch products and are undergoing significant changes, as proven by their shares, which have recently been very volatile. The scenario is different for Basilea Pharmaceutica–capitalization CHF703m: it has investigational drugs undergoing various clinical trials–from Phase I to Phase III–and generates modest revenues, however its future is mainly linked to antifungal Cresemba.
(Source: Finanz und Wirtschaft)