News

Cosmo places Santarus shares
Enlarge image

BusinessItaly

Cosmo places Santarus shares

14.05.2013 - Cosmo Pharmaceuticals' subsidiary Cosmo Technologies Ltd, has placed 4,250,000 Santarus shares in a secondary public offering to investors in the US.

After having placed 4,250,000 of its 7,878,544 Santarus shares to US investors, the sole bookrunner Jefferies LLC, exercised an option to purchase additional 637,500 Santarus shares at the same price.

The specialist for gastro-intestinal and skin disorders did not sell any shares and will not receive any proceeds from the offering. The transaction is expected to close on May 15, subject to satisfaction of customary closing conditions. The shares were originally purchased at an average price of € 1.77. Per year end 2012 each share was worth € 8.32.  

Cosmo’s proprietary clinical development pipeline specifically addresses treatments for IBD, such as ulcerative colitis and Crohn’s disease, and colon infections. Additionally, the company is developing a diagnostic tool for the detection of colon cancer and a new drug for the topical treatment of Acne, Alopecia and Hirsutism. Cosmo’s first product on the market is Lialda®/Mezavant®/Mesavancol®, a treatment for mild to moderate ulcerative colitis that is licensed globally to Giuliani and Shire Limited. Cosmo’s second product is Uceris™/Cortiment™, a steroid with low side effects that is indicated for ulcerative colitis patients that do not get relief when treated with 5-ASA’s, and which is licensed globally to Santarus and Ferring.

Cosmo’s proprietary MMX® technology is at the core of the company’s product pipeline and was developed through its expertise in formulating and manufacturing gastrointestinal drugs for international clients at its GMP (facilities in Lainate, Italy. The technology of the young company is designed to targeted delivery of active ingredients in the intestines.

© 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

  • NOVACYT (F)4.97 EUR11.43%
  • PROSENSA (NL)10.24 USD5.89%
  • NEUROVIVE PHARMACEUTICAL AB (S)74.00 SEK5.71%

FLOP

  • ANTISOMA (UK)1.32 GBP-14.84%
  • XENETIC BIOSCIENCES (UK)6.00 GBP-14.29%
  • STENTYS (F)7.26 EUR-12.32%

TOP

  • WILEX (D)2.70 EUR229.3%
  • NEUROVIVE PHARMACEUTICAL AB (S)74.00 SEK52.6%
  • Allergy Therapeutics (UK)20.00 GBP34.4%

FLOP

  • HYBRIGENICS (F)1.68 EUR-29.7%
  • GW PHARMACEUTICALS (UK)418.50 GBP-20.1%
  • PHARMING (NL)0.44 EUR-20.0%

TOP

  • SANTHERA (CH)59.90 CHF2836.3%
  • GW PHARMACEUTICALS (UK)418.50 GBP634.2%
  • PAION (D)2.50 EUR284.6%

FLOP

  • EVOCUTIS (UK)0.21 GBP-92.7%
  • CYTOS (CH)0.27 CHF-92.0%
  • THROMBOGENICS (B)9.16 EUR-70.3%

No liability assumed, Date: 31.07.2014