News

Clinigen licences Novartis drug
Enlarge image

BusinessUKSwitzerland

Clinigen licences Novartis drug

27.03.2013 - British Clinigen Group broadens its cancer support therapy focus with the acquisition of Novartis' cardioprotective agent Cardioxane.

The UK specialist for cancer support therapy has licenced Cardioxane (dexrazoxane) from Novartis for US$33m in cash, payable in two tranches. Under the terms of the agreement, Clinigen will lead manufacturing, registration, distribution, and commercialisation in all countries where marketing authorisations for the cardioprotectant have been already granted.

Cardioxane is used to prevent chronic cumulative cardiotoxicity of anthracycline chemotherapy such as doxorubicin or in advanced and metastatic adult breast cancer. The company said it believes there is an opportunity to revitalise Cardioxane, which has no direct licensed competition in the anthracycline therapy cardioprotection space, by establishing new commercialisation, market and indication strategies over the next five years.

Historic revenues for Cardioxane have been about US$11-12m per year with Latin America, where Clinigen wants to expand, as a strong market. Cardioxane is the third addition to Clinigen's Specialty Pharmaceuticals business. It complements Foscavir, an anti-viral compound licenced from AstraZeneca, which fights CMV infections in leukemia patients undergoing bone marrow transplantation. Recently, the British company licensed Vibativ from Theravance. It fights hospital-acquired MRSA infections.

Cardioxane was initially licensed in 1992. Subsequently, Novartis bought the product as part of the 2006 acquisition of Chiron. The compound is currently licensed for sale in 43 markets around the world, including 18 in Latin America. Within the European Union, Cardioxane underwent a revision to its label in 2011, restricting its licensed use to advanced and/or metastatic breast cancer. The change brought the EU label in line with the dexrazoxane indication that exists within the US.

© eurobiotechnews.eu/tg

http://www.european-biotechnology-news.com/news/news/2013-01/clinigen-licences-novartis-compound.html

PoliticsSwitzerland

23.10.2014 Just one day before its planned initial listing, Swiss Molecular Partners has cancelled its IPO. The reason: "unfavourable market conditions".

PoliticsEU

23.10.2014 Jean-Claude Juncker can breathe a sigh of relief as MEPs voted “yes” by a large majority to his team of European Union Commissioners. Previous to the vote, Juncker had shifted the EMA back to the health commissioner in response to protests.

FinancingFrance

21.10.2014 Yet another European company is looking for money on the US stock exchange – French DBV Technologies SA is all set up for its secondary listing on NASDAQ. The French biotech company hopes to rake in US$98m for its peanut allergy patches.

FinancingDenmark

18.10.2014 After raising US$220.5m (€172m) with its IPO, fast Forward Pharma’s lucky streak hits an obstacle on the road to success with shares falling 17% on its first day of trading.

M&AUKItaly

17.10.2014 Abandoned at the altar: Abbvie has dropped plans to acquire UK’s Shire following new US tax rules. This puts a stop to one of the biggest pharma mergers planned this year.

FinancingUKBelgium

15.10.2014 Bicycle Therapeutics wins €25m backing by major pharma venture capitalists for the development of a new class of oncology drugs.

FinancingGermanySwitzerlandNetherlands

13.10.2014 Biotechnology IPOs are back in fashion – German Probiodrug AG wants to raise €32m with its IPO, whilst Swiss Molecular Partners AG hopes the launch of its IPO will gain a revenue of €145m.

BusinessIreland

10.10.2014 Actavis has announced plans to merge with American pharma company Durata - a move that will strengthen their infectious diseases portfolio.

RegulationEU

07.10.2014 In an unprecedented move, the European Medicines Agency has approved a system allowing the future analysis of clinical trial data.

FinanceNetherlandsEU

06.10.2014 Another fund from the Netherlands has raised €92m in its first close and will invest the money in companies developing innovative therapeutics, medical devices and diagnostics.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • 4SC0.97 EUR0.00%
  • ACTELION112.40 CHF0.00%
  • ADDEX3.30 CHF0.00%

FLOP

  • CYTOTOOLS31.45 EUR-0.47%
  • 4SC0.97 EUR0.00%
  • ACTELION112.40 CHF0.00%

TOP

  • BIOFRONTERA2.90 EUR31.8%
  • VITA 344.32 EUR7.2%
  • BB BIOTECH157.70 EUR6.1%

FLOP

  • PAION2.24 EUR-27.7%
  • CYTOS0.16 CHF-23.8%
  • MAGFORCE5.90 EUR-16.9%

TOP

  • SANTHERA85.50 CHF2288.3%
  • CO.DON2.75 EUR183.5%
  • PAION2.24 EUR143.5%

FLOP

  • CYTOS0.16 CHF-95.9%
  • 4SC0.97 EUR-44.3%
  • THERAMETRICS0.08 CHF-42.9%

No liability assumed, Date: 25.10.2014