PolandPoland

Bioton bags EUR31m from deal with Bayer Schering

10.07.2009

Warsaw – Polish insulin maker Bioton SA has bounced back. After incurring a $6m loss in the first quarter of this year the company announced yesterday that it has signed an exclusive supply and distribution agreement with German drugmaker Bayer Schering Pharma. For an advance payment of EUR31m, Bayer will acquire the exclusive rights for commercialisation and distribution of insulin under the trade name SciLin® in China, which will be produced by BIOTON’s subsidiary SciGen in Singapore. Under the terms of the agreement, BIOTON will deliver the recombinant insulin to Bayer in China and ensures the product supply for the next 15 years. With the deal, Bayer secures its leading position in the fast-growing diabetes market in China. After a series of bad news BIOTON seems now to recover from recent financial problems.
At the beginning of July, BIOTON had issued EUR11.5m in shares to its major shareholder, Polish businessman Ryszard Krauze. Three days later, Bioton also bagged financing worth EUR83.5m from the US-based GEM Global Yield Fund. The funding secures Bioton’s operations for the next three years. The company had carried out an emergency share issue in April to get access to cash, while at the same time promising a major restructure aimed at improving earnings.

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07.03.2012

Polish antibody development and manufacturing specialist Mabion S.A. more than tripled its revenues in 2011 (€2.5m) compared to 2010 (€0.74m). The increase in turnover mainly resulted from stronger client demand for R&D services...

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01.03.2012

Polish company Bioton S.A (Warsaw) and Swiss-headquartered generics giant Actavis (Zug) have joined forces to shake up the €12bn world market for recombinant insulins and insulin analogues. At the end of January, Bioton Chairman...

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31.01.2012

Zug/Warsaw - The fourth largest generics producer and a polish biotech want to create a stir in the market for diabetes drugs. Swiss Actavis and Bioton from Warsaw announced that they have formed a joint venture company for the...

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10.12.2011

Krakow – Polish Selvita S.A., which offers preclinical drug development services to pharma companies, has been ranked as the No. 1 “Rising Star” of this year’s Fast50 contest. In the programme, analysts from Deloitte Technology...

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09.12.2011

Warsaw – Poland’s Bioton S.A. has announced it is investing €20m in a new production plant in Szczecin. The biotechnology company is planning to manufacture insulin injection devices in the facility. The project involves the...

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01.10.2011

Warsaw – Biotech experts want to make the development of pharmaceutical and medical innovations a priority in Poland. At the start of September, members of the Polish Technology Platform for Innovative Medicine recommended that...

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02.08.2011

Kraków – Selvita SA CEO Pawel Przewiezlikowski announced at the end of July that the Polish drug development and drug discovery service firm is close to achieving profitability. After bagging EUR3.7m through an IPO on Warsaw’s...

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12.06.2011

Warsaw – Researchers from Lodz and Poznan Universities say Poland needs to update its draft GMO law. “The national current legal situation is complicated,” Prof. Tomas Twardowski told EuroBiotechNews, stressing that while trade...

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12.06.2011

Krakow – Polish Selvita S.A. is going public. By May, the drug discovery specialist announced it had entered into definite agreements with investors to sell 2.7 million shares for a total of EUR3.75m, resulting in a market...

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11.06.2011

Szczecin/Greifswald – A team of physical chemists headed by Robert Hoylst from the Polish Academy of Science have improved a method for calculating the migration time of drugs or drug delivery devices introduced into the sol/gel...

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