News

AstraZeneca buys Omthera
Enlarge image

BusinessUKSwedenIrelandGermanyNorway

AstraZeneca buys Omthera

29.05.2013 - AstraZeneca has filled its pipeline with a Phase III fish oil cardioprotective drug, taking over Omthera Pharmaceuticals for $443m.

The British-Swedish drug giant will pay Omthera $12.70 per share, or approximately $323 million, a premium of 88% to Omthera's closing price on Friday. In addition, Omthera shareholders will get "contingent value rights" (CVRs) of up to approximately $4.70 per share, or $120 million in total, depending on the success of Omthera's experimental fish oil-derived medicine Epanova to treat patients with very high triglyceride levels. Epanova is a mixture of eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA). 

The expansion into the cardiovascular market pitches AstraZeneca into competition with rivals including Irish Amarin, British Glaxo SmithKline that is marketing the $917m fish-oil derived medicine Lovaza or Geman BASF, who has taken over Norwegian Pronova. Omthera's drug is ready to be filed for US approval and could be combined with AstraZeneca's cholesterol fighter Crestor.

© eurobiotechnews.eu/tg

BusinessSpainUKSweden

31.07.2014 Astrazeneca is buying the rights to Almirall’s respiratory drugs in a deal worth up to €1.56bn.

BusinessFranceGermanySwitzerlandUK

30.07.2014 Rumours have it that French Danone wants to sell its medical nutrition business to US drugmaker Hospira for US$5bn in yet another tax inversion deal.

RegulationUKEU

29.07.2014 The first vaccine for malaria may be within reach: The European Medicines Agency has accepted Glaxosmithkline’s malaria vaccine candidate RTS,S for regulatory review.

FundingEU

25.07.2014 The European Commission aims to support innovation in Europe and announced a "Fast Track to Innovation" pilot as well as five innovation prices under Horizon 2020.

ResearchUKEU

23.07.2014 In the largest genomic study published on any psychiatric disorder so far, researchers have indentified 83 new locations in the human genome associated with the risk of developing schizophrenia.

BusinessUKIreland

21.07.2014 Abbvie’s tenacious pursuit of British rival Shire is finally paying off: The two companies have unveiled their transatlantic merger worth £32bn (€40bn).

ResearchEUSwitzerland

17.07.2014 A trans-border, cross-disciplinary project that aims to model the human brain in a computer has drawn heavy criticism from scientists pledging to boycott the project.

MergerUK

16.07.2014 After rejecting three merger propositions from US competitor Abbvie, Shire has now given up resistance to the deal and is recommending a new and improved offer worth £31.3bn.

AcquisitionUKDenmarkSpainGermanyFrance

15.07.2014 British specialty pharma company Prostrakan is handing over £230m for Archimedes Pharma Limited, a company that brings its lead product Pecfent and its proprietary drug delivery technology platform into the deal.

FundingEU

11.07.2014 Among the seven newly launched Joint Technology Initiatives (JTI) of Horizon2020 are two with deep roots in biotech: IMI is going into its second round while the newly established Bio-based Industries partnership invests in bioeconomy.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • SUMMIT (UK)4.03 GBP3.87%
  • ZELTIA (E)2.89 EUR3.58%
  • 4SC (D)1.30 EUR0.00%

FLOP

  • ANTISOMA (UK)1.32 GBP-14.84%
  • XENETIC BIOSCIENCES (UK)6.00 GBP-14.29%
  • STENTYS (F)6.36 EUR-12.40%

TOP

  • WILEX (D)2.70 EUR221.4%
  • NEUROVIVE PHARMACEUTICAL AB (S)74.00 SEK49.8%
  • Allergy Therapeutics (UK)20.00 GBP33.3%

FLOP

  • HYBRIGENICS (F)1.57 EUR-33.2%
  • STENTYS (F)6.36 EUR-30.0%
  • PROTHENA PLC (IE)17.36 USD-23.2%

TOP

  • SANTHERA (CH)59.90 CHF2836.3%
  • GW PHARMACEUTICALS (UK)418.50 GBP634.2%
  • PAION (D)2.50 EUR290.6%

FLOP

  • EVOCUTIS (UK)0.21 GBP-93.0%
  • CYTOS (CH)0.27 CHF-92.0%
  • THROMBOGENICS (B)9.07 EUR-71.3%

No liability assumed, Date: 01.08.2014