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.
04.05.2016 Barcelona-based epigenetics expert Oryzon Genomics has closed a debt funding round of €10.5m, bringing the total money raised since last year to €27m. The funds will serve to advance the company’s two LSD1 inhibitors in cancer and neurodegeneration.
03.05.2016 Ipsen is strengthening its ties to long-time development partner Oncodesign, a Dijon-based cancer treatment biotech. The French pharma is handing over the pre-clinical pharmacology for its oncology research programmes to Oncodesign.
29.04.2016 Swiss bank Group UBS has raised US$471m (€412m) for the UBS Oncology Impact Fund, which was set up to invest in early-stage cancer treatments. The money raised by the fund, nearly half of which comes from investors in Asia, is the largest amount ever raised for such a cancer investment fund.
27.04.2016 More revenue, more jobs, more financing, more R&D expenditure – all signs point towards sustainable growth in the German biotech sector. These are the results of the most recent company survey 2016, published by biotechnologie.de. The report was once again conducted alongside the biotech standards defined by the organisation for economic cooperation and development (OECD).
21.04.2016 An expert panel’s final report on the fatal drug trial earlier this year in France states that the death of one of the participants was most likely caused by the drug’s toxicity and not by any violation of the rules.
21.04.2016 For up to US$685m (€606m), Dutch ArgenX has outlicensed its human antibody programme ARGX-115 to AbbVie. The pre-clinical immuno-oncology candidate targets a protein believed to contribute to immunosuppressive effects of T-cells.
19.04.2016 British drug developer Heptares Therapeutics and mAb maker Kymab Ltd have partnered up in yet another immuno-oncology collaboration. The companies plan to discover antibody meds targeting a superfamily of receptors.
15.04.2016 Not every company is put off by the current stock market climate. Swiss biopharma company GeNeuro has gone public at Euronext Paris, raising €33m in the process. Others, meanwhile, have to find different ways to raise money.
13.04.2016 Despite political disturbances, 2015 was a good year for the biotech scene in Switzerland. Net sales increased by 5.1% to CHF5,133m and 400 additional people found jobs in the sector. As usual, the new numbers were presented at the annual Swiss Biotech Day – which set new records as well.