SwedenSweden

SOBI swimming

14.04.2011

Stockholm – Swedish Orphan Biovitrum AB (SOBI) has reported weak results for 2010. The company’s net income declined by 7.7% to SEK1.9bn, with losses for the period totalling up to SEK104m. SOBI spokesmen said that several external factors had a serious impact on financial performance, emphasising the strong Swedish crown in relation to other currencies and govern­mental health care budget cuts in several European countries. “Conditions on the Euro­pean pharmaceutical market are expected to remain unchanged in 2011, with limited growth,” said SOBI CEO Kenneth Rooth. With this outlook in mind, the firm’s management has applied the brakes: reductions – particularly in personnel – are planned in order to cut operating costs by SEK100m annually. Around 70 staff members will be affected, predominantly in preclinical development, CMC (Chemistry, Manufacturing and Controls) and within the company’s Manufacturing and Quality Control/Quality Assurance in Stockholm. “We have a number of product launches in progress and several late-stage development projects with great market potential. These projects require major resources,” said Rooth. An additional guaranteed issue of common shares valued at around SEK600m should lower SOBI’s debts further. The final terms of the rights issue, including subscription price and number of shares to be issued, have yet to be determined.

SwedenSweden

17.11.2011

Exton/Helsingborg – A Swedish specialist for improving glucocorticoid replacement therapy has attracted transatlantic attention. DuoCort Pharma AB, based in Helsingborg, was bought by ViroPharma Incorporated, an US-based...

SwedenSweden

01.10.2011

Uppsala/Basel – Swedish life science initiative Uppsala BIO is set to team up with drugmaker Hoffman-La Roche AG. For the next three years, the cluster will become the ninth member – and the first from Europe – of the Swiss...

SwedenSweden

01.10.2011

Uppsala – Backed by strong clinical research, the development of Orexo AB’s drug candidate OX219 for treatment of opioid dependence is gathering momentum. A clinical Phase I study was carried out to decide the commercial...

SwedenSweden

20.08.2011

Petach Tikva/Lund – Active Biotech AB suffered a severe setback in the development of its oral multiple sclerosis drug laquinimod. Together with ally Teva (Israel), the Swedish drugmaker announced that the substance failed in...

SwedenSweden

08.08.2011

Lund - Researchers from Lund University may have found a viable alternative to animal testing. In an article in the open access journal BMC Genomics (August 2011) they demonstrated that the response of laboratory grown human...

SwedenSweden

04.08.2011

Uppsala - After good interim results Oasmia wastes no time and starts the approval process for its ovarian cancer drug Paclical. The interim analysis, based on data from approximately 400 patients, showed the expected efficacy of...

SwedenSweden

02.08.2011

Petach Tikva/Lund - Active Biotech's experimental multiple sclerosis drug laquinimod failed in a phase III-trial. This is a major setback for the Swedish drug maker and its ally Teva Pharmaceutical Industries from Israel. Both...

SwedenSweden

30.06.2011

Huddinge, Sweden - Medivir cashes in on Medivir. For EUR 31m the Swedishspecialty pharma company sold all North American remaining rights forXerese, a drug against cold sores (herpes labialis), to Swedish Meda. InFebruary 2010,...

SwedenSweden

15.06.2011

Uppsala/Tokyo – Orexo AB’s cancer pain treatment Abstral has reached the Canadian drug market. The Swedish drugmaker confirmed yesterday that Paladin Labs Inc have launched marketing of the sublingual formulation of fentanyl in...

SwedenSweden

12.06.2011

Stockholm – Swedish investor Karolinska Development AB outperformed its own expectations in its Initial Public Offering on the Nasdaq OMX Stockholm. The company sold 15.2 million shares at SEK40 during the offering, raising a...

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