19.07.2012 - On the Iberian Peninsula opposition against the drastic budget cuts is forming. Big pharma is not immune from the cuts.
The Spanish R&D budget for 2012 has been slashed to 75% of last year’s value. Although the Spanish secretary of state for research, Carmen Vela, defends the plan saying that the „system is oversized and Spanish science could do more with less“, the affected sector howls in disagreement. „Excellence costs money and we will not reach it by shrinking investment“, says Carlos Andradas. Andradas is the president of the Confederation of Spanish Scientific Societies (COSCE). Together with other reputable science organisations in the country, COSCE demands the European Parliament to take action. In a letter sent to European Parliamentarians at the beginning of June, the Spanish scientists draw a comparison to Europe’s power in the economy: „The European Union is issuing recommendations on economic matters that governments take very seriously. We would like to hear recommendations on R&D spending as well“, says Andrades. So far no reactions from Strasbourg have been noted.
Portuguese healthcare is contending with different weapons. Last week, doctors and nurses went on a two-day workout with only emergency services left unaffected. The government’s actions to shrink its budget deficit threaten the quality of the healthcare system, say the unions. Reformers seem to get caught in crossfire as international pharma and chemistry businesses also raise the pressure. Merck KGAA from Darmstadt (Germany) warned the Portuguese government on 9 July that planned research projects worth €2m could be cancelled if the hospitals do not stick to the settlements regarding the liquidation of debts. According to information from the German newspaper FTD, the Portuguese hospitals alone owe the pharma industry about €1.5bn. Companies have to wait on average 550 days until their bills are cleared.
29.07.2015 Newly founded Mereo BioPharma has acquired three mid-stage clinical assets from Novartis. In turn, the Swiss pharma concern will hold a stake in the UK company. Other investors are also on board.
24.07.2015 Biotech companies across Europe continue to raise cash on the public markets, generating €3bn in total financing proceedings in the first half of 2015. Compared to 2014, this is almost twice as much.
23.07.2015 US money keeps flowing into Europe's biotechs. As the race for the peanut allergy market heats up, NASDAQ listed French biotech DBV has announced the successful closing of US$281m (€256m) share offering for its allergy products.
16.07.2015 Sanofi has announced plans to restructure its business in five standalone global business units starting in January 2016. The goal is to promote growth and help the company launch a catalogue of new drugs over the next five years.
15.07.2015 GlaxoSmithKline (GSK) has become the first drugmaker to join the Francis Crick Institute. It is a consortium made up of six scientific and academic institutes to conduct research and drug development in the UK. The new institute is set to become a world-leading centre of biomedical research and innovation.
10.07.2015 Karolinska Development has slashed the reported value of its portfolio by almost half by revising its valuation model for early stage companies and divesting its shares in pain med maker Pharmanest.
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