10.06.2013 - British Alliance Pharma plc has bought the complete rights for Novartis’ obstetric drug Syntometrine.
The Chippenham-based specialty company already owns the UK rights to Syntometrine, an obstetric drug used in the final stage of labour. With the US$11.5m deal, Alliance Pharma adds Novartis’ assets in other countries to its portfolio.
The Novartis Group has been selling Syntometrine in Australia, South Africa, Malaysia and New Zealand. In the year from March 2012 to March 2013, the Swiss drug giant made US$3.2m in sales with Syntometrine; the gross margin generated was US$2.8m. Alliance Pharma estimates its annual distribution and operating costs associated with the new territories at US$780,000.
The British company, which generates annual sales of US$69.8m last year, will finance the deal from existing cash and bank facilities, including a US$5.4m drawdown from the group's US$40.7m acquisition facilities. This leaves US$15m of the facilities available to fund further acquisitions.
25.11.2014 The European biotech IPO slump has finally come to an end. A brand new industry report shows that compared to previous years, the number of biotech IPOs more than doubled in 2014, with London and Paris exchanges leading the pack.
19.11.2014 It’s not every day that a company is pushed into the top ten of its sector, but that day has come for Actavis. Christmas came early for the new pharma giant after completing a US$66bn (€53bn) takeover battle for the Botox manufacturer Allergan.
18.11.2014 Merck KGaA and US rival Pfizer have signed a immuno-oncology alliance worth billions: Merck will share the development and commercialisation of its cancer antibody with its US partner – for €2.3bn.
14.11.2014 Cosily coinciding with World Diabetes Day on 14th November, French biopharma Les Laboratories Servier has struck a US$1bn deal with US pharma Intarcia Therapeutics for the exclusive rights to Intarcia’s unprecedented therapy for type 2 diabetes.
12.11.2014 Glitz and glamour are not words often used to describe science and mathematics. But once a year, celebrities from the science and showbiz world come together at the Breakthough Prizes, a glitzy television bash that honours scientists for their achievements. French life scientist Emmanuelle Charpentier was among this year’s winners.
04.11.2014 Galecto Biotech has entered an agreement with Bristol-Myers Squibb for the acquisition of the company and its lead drug, providing the Swedish company with the potential of reaching over US$400m.