SwedenSweden

Thermo Fisher Scientific expands into autoimmunity diagnostics business with EUR2.5bn cash investment

20.05.2011

Uppsala – Thermo Fisher Scientific Inc. has signed a definitive agreement to acquire Phadia AB, a global leader in blood-based allergy and autoimmunity diagnostics, from European private equity firm Cinven, for EUR2.47 billion in cash. The transaction, which brings Cinven a profit of more than EUR1.2bn over the 2007 purchase price for the Swedish diagnostics specialist, is expected to be completed in the fourth quarter of 2011. With the deal, Thermo strengthens its speciality diagnostics business. Phadia reported 2010 total sales of EUR367m for its antigen testing platforms ImmunoCAP for allergy testing and EliA for autoimmunity testing, which runs on the Phadia250 platform, a walk-away automation system for fluorescence readout of the tests. Over the last three years Phadia (before 2004: Pharmacia Diagnostics AB) expanded by 10% (CAGR) globally but by 23% in the US market. Currently, Phadia is a global leader for in vitro allergy testing and a European leader in autoimmunity diagnostic testing. Autoimmune disorders is a growing segment of healthcare, with more than 100 million people worldwide suffering from autoimmune disorders such as rheumatoid arthritis or coeliac disease. 20% of people living in North America and Europe suffer from allergies. Thermo Fisher will leverage Phadia’s clinical marketing model to sell its specialty biomarker assays and other diagnostics products. Phadia will benefit from Thermo Fisher’s extensive healthcare market channels in the U.S. and strong presence in emerging markets.

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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...

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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...

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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...

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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...

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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...

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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...

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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...

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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,...

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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...

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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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