Cash-poor biotech companies are not hard to find in the U.S. Rodman & Renshaw's Feb. 23 Biotechnology Balance Sheet report estimates that 113 publicly traded U.S. biotechs have less than one year's operating cash on hand. Of those, 25 currently have less than $1 million. But as any observer of global economic meltdown knows, cash poor biotechs aren't just a U.S. problem.
Continue reading "Troubled Biotechs: Intercytex, Vanda, Advanced Life Sciences" »
Gedeon Richter, the Hungarian pharma giant, entered into an agreement with privately-held HRA Pharma to market ellaOne, a more potent emergency contraceptive, which can be used up to five days after unprotected sex, the firms announced Feb. 17. The drug is pending EMEA approval.
Continue reading "Gedeon Richter To Market HRA Pharma’s Novel Emergency Contraceptive, ellaOne" »
LONDON - “I’m very confident that this year we’ll consummate some more deals,” said Shire CEO Angus Russell at a lunch announcing the group’s full-year results yesterday. And why shouldn’t he be? The company generated $1.2 billion cash last year (while driving a 27% increase in product sales and a 36% step-up in non-GAAP earnings per share).
Continue reading "Shire: Switching Attenton To Europe And RoW" »
LONDON - We imagine that Celgene is pleased with its cost-sharing scheme around multiple myeloma drug lenalidomide (Revlimid), approved, at least provisionally, by the UK cost-effectiveness watchdog NICE.
Continue reading "NICE Deal, Celgene" »
