Category: news

Hikma reduces net debt for $64M in 1H, revenue 1% up
August 17, 2017 Off

Hikma reduces net debt for $64M in 1H, revenue 1% up

By Dino Mustafić

During H1 2017, the Generics business launched 7 products, including all dosage forms and strengths, and received 14 product approvals.

We announced on 11 May 2017 that the US Food and Drug Administration (FDA) had issued a complete response letter (CRL) in relation to our abbreviated new drug application (ANDA) for our generic version of GlaxoSmithKline’s Advair Diskus® (fluticasone propionate and salmeterol inhalation powder). Since then we, supported by our partner Vectura, have had constructive discussions with the FDA and we have been able to clarify and resolve a number of the questions raised. The discussions with the FDA have confirmed our initial assessment that there are no material issues regarding the substitutability of the proposed device. We are in ongoing discussions with the FDA to address the remaining questions and will provide a more detailed update to the market as soon as we are able to do so.

We now expect Generics revenue to be around $620 million for the full year, reflecting the impact of increased competition on prices and volumes. Through our focus on portfolio optimisation and continued cost savings, we expect the Generics business to achieve core operating profit of around $30 million in 2017.

AstraZeneca’s Science Committee Chairman retires
August 16, 2017 Off

AstraZeneca’s Science Committee Chairman retires

By Dino Mustafić

AstraZeneca’s Bruce Burlington will retire at the end of August 2017 as a Non-Executive Director and as a member of the Audit Committee, the Nomination and Governance Committee, and from his role as Chairman of the Science Committee, after seven years’ stay with the company. 

August 16, 2017 Off

Novo Nordisk trial shows superior glucose control and weight loss with semaglutide compared to dulaglutide

By Dino Mustafić

Novo Nordisk’s SUSTAIN 7 trial results, announced on Wednesday, showed that treating people with type 2 diabetes with once-weekly semaglutide reduced HbA1c and body weight compared to treatment with dulaglutide. The trial tested the 0.5 mg semaglutide compared with 0.75 dulaglutide, and 1.0 mg semaglutide compared with 1.5 mg dulaglutide, when added to metformin.

Akers Biosciences revenues, gross profit up 10%, overhead lowered 10%
August 15, 2017 Off

Akers Biosciences revenues, gross profit up 10%, overhead lowered 10%

By Dino Mustafić

Akers Biosciences has announced the results for the first half 2017 in which it posted gross profit to be up 10% to $1,342,160, compared to the same period previous year, $1,217,634. As the total revenues moved up 10% for first 6 months of 2017 which were $1,865,112, compared to the 2016’s first half of $1,694,510, Akers Biosciences’s loss before income tax was reduced by 20% to $2,051,918, from first half in 2016, $2,517,861.

CellAct, Mundipharma in $250M cancer drug deal
August 15, 2017 Off

CellAct, Mundipharma in $250M cancer drug deal

By Dino Mustafić

CellAct Pharma, a virtual German company, has signed a more than $250 million deal with Mundipharma for further development and commercialization of CAP7.1, a prodrug etoposide that has shown efficacy in phase 2 studies in patients with biliary tract cancers.