Nearly half (48%) of the 27 fundraisings by private European biotech companies so far this year have been for sums totaling $10 million or less, according to Elsevier's "Strategic Transactions" database. That's a significant increase over the same period in 2010, when less than 30% of financings were sub-$10 million.
InterMune, one of several biotechs transitioning from drug developer to commercial marketer, is gearing up for the European launch of Esbriet (pirfenidone) for the treatment of idiopathic pulmonary fibrosis in Europe in September. Investors will be closely tracking the success of the European launch, especially as InterMune is funding a new Phase III trial for pirfenidone in its pursuit of U.S. approval.
The EU Innovative Medicines Initiative, the world’s largest public-private partnership in health R&D, in July called for proposals across seven new health care areas.
The 30% increase in quarterly product sales reported by Shire PLC July 28 was the stuff of most current big pharma CEO's dreams. With many large drug firms announcing negative or flat sales growth, amid generic competition and European price cuts, Shire's story of 25% increase in revenues, to over $1 billion, and a likely boost to full-year earnings forecasts, could have come from another world.
France is facing various reforms to its health care system as a direct result of the scandal involving Servier’s diabetes drug Mediator (benfluorex), which may have caused up to 500 deaths.
