SwedenSweden

Swedish DuoCort Pharma snatched up by US Viropharma

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 biopharmaceutical company. ViroPharma paid an upfront of €25 million. In the best case for DuoCorts's former owners, the Americans will pay €97 million in milestones associated with manufacturing, sales thresholds and territory expansion. ViroPharma has won a bet. On October 27th it announced its intention to buy DuoCort, a move that was justified when on 3rd November the European Commission granted European Marketing Authorisation for DuoCort's Plenadren, an orphan drug for treatment of adrenal insufficiency in adults. Plenadren is a once daily dual-release oral glucocorticoid tablet with a release profile designed to more closely mimic the body’s natural secretion pattern of cortisol. ViroPharma now says it anticipates Plenadren to hit the European market at the end of 2012. ViroPharma anticipates peak year sales for Plenadren could reach €37 million. “We are excited by the approval of Plenadren in Europe and confirmation of its Orphan Drug Designation by the EC which gives this product 10 years of market exclusivity at launch,” said Vincent Milano, ViroPharma’s president and CEO.

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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