News

Alliance Pharma bags Novartis drug
Enlarge image

BusinessUKSwitzerland

Alliance Pharma bags Novartis drug

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.

© eurobiotechnews.eu/tg

http://www.european-biotechnology-news.com/news/news/2013-02/alliance-pharma-bags-novartis-drug.html

2014EU

19.12.2014 We took a look back at 2014: which European Biotechnology News stories topped the charts this year?

R&DEUBelgium

18.12.2014 IMI has launched a €115m call for proposals involving a project in collaboration with the Bill and Melinda Gates Foundation to improve vaccines against whopping cough in children.

PoliticsEUPolandItalySpainUK

16.12.2014 Two consortia combined of 144 European companies, research institutes and universities have been selected for funding by the EIT in the areas of health and raw materials. Both clusters are set to acquire €1.1bn over the next seven years.

M&ALuxembourg

11.12.2014 Luxembourg bio-analytical testing company Eurofins Scientific has signed an agreement to acquire Boston Heart Diagnostics Corp. for an initial €112m.

StudySwitzerlandEU

10.12.2014 When it comes to the biggest investors in Research and Development (R&D) Swiss pharma top dogs Novartis and Roche have defended their positioning among the top ten companies worldwide – according to a recently published EU study.

FinancingUKSpain

09.12.2014 British drug delivery specialist Midatech Pharma plc floated on the London stock market. It is the third biotech IPO on the AIM market this year.

CooperationAustria

05.12.2014 Austrian contract research company VTU has entered into a development and commercialisation agreement with US company RCT. The partners want to combine both companies' Pichia pastoris protein production technologies under VTU's roof.

FinancingDenmark

03.12.2014 Danish biotech pharma Ascendis has successfully completed a €48m Series D financing round. The funding is expected to support its late-stage clinical trials to push its lead drug into Phase III trials.

Events

All Events

Current issue

All issues

Product of the week

Products