Belgium

Gen-Probe bids $334 for Innogenetics

Tue, 03 Jun 2008 06:59:58 -0400

In a bid to create the world's largest stand-alone molecular diagnostics company, San Diego-based Gen-Probe has launched a $334 million cash bid for Belgium's Innogenetics. That's a seven percent premium over the June 2nd close and a six percent premium over a bid by Solvay. Gen-Probe says that if its bid is successful, the combined company will have more than a half billion dollars in annual revenue. A spokesman for Solvay says the company is aware of the counter-offer and will make its position known "in due time."

A merger with the European firm would give Gen-Probe a presence on the continent, where the diagnostics business has been growing at a more rapid pace than in the U.S.

- here's the release
- read the AFX report

ALSO NOTED: BMS hands back drug rights; OncoMethylome in deal with GSK; Celgene shares take a bounce; and much more...

Mon, 26 Nov 2007 06:59:50 -0500

> Bristol-Myers Squibb has returned the rights to vinflunine to Pierre Fabre. The therapy was studied as a treatment for bladder cancer. Release

> Belgium's OncoMethylome Sciences has forged a pact with GlaxoSmithKline to develop DNA methylation biomarkers for use in developing personalized cancer therapies. Release

> Shares of Celgene got a bounce this morning after a Banc of America analyst give a thumb's up to the company's expanded line-up of cancer therapies with its acquisition of Pharmion. Katherine Kim concludes that Revlimid can earn $3.5 billion a year. Report

> Sanofi Pasteur says it's spending about $104 million on a Chinese manufacturing plant in hopes of launching flu shots locally by 2012. Report

> A new regulatory report gives us a peek at the recall of Roche's HIV remedy Viracept--and it's not a pretty picture. Report

> The FDA also plans to review Roche's Tamiflu and GlaxoSmithKline's Relenza at its advisory committee confab Nov. 27-28. At issue: the anti-influenza drugs' potential neurological side effects in kids. Report

The FDA is taking a second look at the safety of three asthma drugs used in kids: GlaxoSmithKline's Serevent and Advair, and Novartis' Foradil. Report

> QRxPharma has begun treating patients as part of the Phase III development program for its lead product candidate Q8003IR, an immediate release dual-opioid pain therapy. Release

> An M.D. and former speaker-on-behalf-of-a-drug tells his story in the New York Times Magazine, and it's an illuminating, behind-the-scenes look at how Dr. Daniel Carlat (photo) became Dr. Drug Rep.

And Finally… In a major study, transcranial magnetic stimulation proved effective in treating major depression. Report

Researchers stage strike at J&J's Belgium ops

Mon, 19 Nov 2007 06:59:54 -0500

Researchers of the world, unite! J&J's downsizing plans included a significant cut at the drug giant's research facilities in Belgium. But staffers there were so unhappy that they called a strike, suspending work on a variety of research projects that includes an unknown number of clinical trials. Most workers have been locked out during the strike at Janssen Pharmaceutica.

- read the report from Outsourcing Pharma

Related Articles:
J&J reorg anoints growth czar. Report
&J restructures pharma unit, laying off workers. Report
J&J makes big cuts at Alza and Scios. Report

Galapagos inks massive RA deal with J&J

Wed, 24 Oct 2007 06:59:58 -0400

Belgium-based Galapagos shares shot up 12 percent on news that the company has inked a massive deal with Jassen Pharmaceutica, a division of Johnson & Johnson. The deal, which is worth up to €1 billion, covers small-molecule oral drugs for the treatment of rheumatoid arthritis. Under the agreement, Galapagos will get €15 million up front and an additional €2 million milestone payment for GT146, one of Galapagos' advanced RA programs. Janssen may select up to 12 programs from Galapagos' RA targets. For each program licensed by Janssen, Galapagos could receive option exercise fees and milestone payments up to €73 million, plus royalties on net sales of each approved new RA drug.

- see this release on the deal for more

Related Articles:
Galapagos extends discovery pact with Amgen. Report
Galapagos to buy UK's Inpharmatica. Report
J&J restructures pharma unit, laying off workers. Report
Scientists unveil new pathway for rheumatoid arthritis. Report

Ablynx plots IPO to advance nanobody pipeline

Wed, 10 Oct 2007 06:59:56 -0400

Belgium's Ablynx, which is developing a pipeline of Nanobody-based therapeutics, is planning to go public. There's no word on how big the offering is intended to be, but the biotech has raised close to $100 million in venture funds to develop tiny antibody-based therapies. Nanobodies, explains Ablynx, are a class of therapeutic proteins based on single-domain antibody fragments which have been generated against more than 100 different disease targets.

- check out the release on the IPO plans

Related Articles:
Boehringer, Ablynx team up on nanobodies. Report
Ablynx inks $265M 'nanobody' development deal. Report
Ablynx inks licensing deal for nanobodies. Report
Ablynx pockets $50M in third round. Report

Read more on: Ablynx | Nanotechnology

ALSO NOTED: Gates gives $280M to fight TB; Merck drug proves positive in Phase II;Merck KGaA exec eyes acquisitions;much more..

Wed, 19 Sep 2007 06:59:50 -0400

> Merck says that its mid-stage trial for the osteoporosis drug Odanacatib (formerly MK-0822) significantly boosted bone mineral density after 12 months. The trial tested four doses of the drug, with the highest dose achieving the best overall results. Report

> ReachBio has opened for business in Seattle. The company will focus on providing specialized contract assay and contract research services utilizing in vitro and in vivo stem cell and progenitor cell assays. Release

> Provectus Pharmaceuticals has announced that a Phase I trial of Provecta demonstrated minimal side effects, significant efficacy and bystander effect on metastatic melanoma tumors in stage III patients. Release

> Johnson & Johnson's restructuring has come home to roost in Belgium. Drug maker Janssen-Cilag, a J&J subsidiary, will slice 521 full-time and 167 part-time workers from its payroll of 4,723 in-country. Report

> Merck KGaA's new chairman, Karl-Ludwig Kley (photo), says he's planning a series of acquisitions over the next three years to grow the company's consumer health and life sciences businesses. Report

> Report: Pharma lobbies big-time in '07. Report

And Finally... Forget the European regulators' fight with Microsoft, Gates still has plenty of money for new research work. The Bill & Melinda Gates Foundation announced today grants totaling $280 million to help fight tuberculosis. The 11 new grants will speed research and development on vaccines, diagnostic tests and treatments to help reduce the global TB burden. Report

ALSO NOTED: Advanced Life confirms data; Regulators probe Merck KGaA release; UCB to name new CFO; and much more...

Mon, 02 Jul 2007 00:01:30 -0400

> Advanced Life Sciences has confirmed positive supplementary data for cethromycin for pneumonia. Release

> German regulators are probing Merck KGaA's reported release of financial information to a select group of analysts ahead of the official release. Report

> Belgium's UCB says it will name a replacement for departing CFO Luc Missorten as soon as the last legal hurdles are cleared. Report

> Cytogen is raising $10.1 million through a private placement. Release

And Finally… The first baby to be created from an egg that had been matured in the laboratory, frozen, thawed and then fertilized, has been born in Canada. Report

Galapagos extends discovery pact with Amgen

Tue, 02 Jan 2007 19:01:34 -0500

The service division of Belgium's Galapagos has extended its drug discovery pact with Amgen through 2008. BioFocus DPI will continue to provide biology, computational and medicinal chemistry services and will supply biologically-directed library compounds to Amgen's discovery programs. Under the terms of the extended agreement, Galapagos gets an upfront fee of $2.4 million as a payment for 2007 research costs.

- see the press release on the deal
- here's the report on the deal from MarketWatch

Related Article:
Galapagos to buy UK's Inpharmatica. Report

Ranbaxy reportedly near $100M generics deal

Sun, 20 Aug 2006 20:01:37 -0400

India's Ranbaxy Laboratories is reportedly close to buying the Russian generic drug company Akrikhin for about $100 million. The Business Standard reported that Ranbaxy was looking to expand its presence in the Russian market. If it completes the deal it will mark the latest in a string of acquisitions in Italy, Spain, Romania and Belgium. Ranbaxy has been scouting the Canadian market as well.

- check out this report on Ranbaxy

Eli Lilly to shutter European facilities

Tue, 27 Jun 2006 20:01:39 -0400

Eli Lilly plans to shutter two research sites and a manufacturing facility in Europe, including one R&D center in Belgium that employs 330 staffers. Altogether, most of the 900 workers employed at the facilities will be affected by the restructuring. The manufacturing center is at Basingstoke. Lilly said the move was prompted by what it called an increasingly difficult global environment hampered by price pressures.

- here's the AFX report on Lilly

GSK blueprints $190M vaccine plant for Singapore

Wed, 07 Jun 2006 20:01:37 -0400

In yet another sign of the vigorous growth of the vaccine business, GlaxoSmithKline has announced plans to invest $190 million in a new vaccine plant to be built in Singapore. The new plant will be GSK's largest outside of Belgium and is expected to open in 2010 with more than 200 workers. This is a major win for Singapore, where the government has been actively supporting the biopharma industry. A variety of big pharma and small biotech companies have set up operations there. Economic development officials say that another vaccine plant announcement is expected later this year and GSK has made it clear that it intends to continue to expand its presence in the city-state.

- here's the AFX report on the GSK plant

SPOTLIGHT: Galapagos inks deal with GSK

Tue, 06 Jun 2006 20:01:33 -0400

Belgium's Galapagos has agreed to collaborate with GlaxoSmithKline on new therapies for osteoarthritis. In the deal, Galapagos gains €4 million as a technology access fee and stands to gain up to €130 million in milestone payments for the successful launch of two products. "The alliance announced today fits very well into our strategy to provide turn-key drug discovery services to the biopharmaceutical industry," said Onno van de Stolpe, CEO of Galapagos. Report

UCB submits BLA for Cimzia

Wed, 01 Mar 2006 19:01:35 -0500

Belgium's UCB has submitted a BLA to the FDA for Cimzia as a treatment for Crohn's disease. And the developer says it plans to file a European submission in a matter of weeks. If approved, Cimzia would be the first-ever biologic utilizing subcutaneous injection for the treatment of Crohn's disease.

"Our experience in the PRECiSE clinical trials program has shown Cimzia to be a well-tolerated and effective treatment," said William Sandborn, M.D., professor of medicine at the Mayo Clinic College of Medicine and a leading investigator in the Cimzia program. "In addition, subcutaneous administration is a welcomed attribute for patients and can offer greater convenience."

- read the report from AFX

Solvay, Lundbeck shares tumble on news of psychosis drug delay

Mon, 28 Nov 2005 19:01:38 -0500

Shares in Belgium's Solvay and Denmark's Lundbeck tumbled in overnight trading after the two companies announced a delay in the launch of their psychosis drug bifeprunox. Solvay said that it would proceed with a US application for the drug in mid-2006 with its development partner Wyeth, but added that additional late-stage trials would be needed to satisfy European regulators. A European application is now expected in 2008.

- see this press release

Rumor Mill: UCB looks to sell peptides division in €100M deal

Mon, 21 Nov 2005 19:01:37 -0500

Belgium's UCB is reportedly planning to divest UCB-Bioproducts, its peptides unit, to Solvay for about €100 million. UCB has declined to comment on the report, which appeared in the financial daily de Tijd.

- read this report from AFX

Fovea raises €20.5M

Sun, 06 Nov 2005 19:01:36 -0500

Fovea Pharmaceuticals has completed €20.5 million ($25 million) in series A financing. The lead investor was Sofinnova Partners, with Abingworth Management (UK), The Wellcome Trust (UK), GIMV (Belgium) and Credit Agricole Private Equity (France) also participating. Fovea will invest the money into development of its experimental retinal disease treatment.

- read this press release for more