Pharmaceutical Sector

Spin-offs might possible show a ray of hope for Pfizer site

With the US maker Pfizer announcing the shutdown of its research and development site at Sandwich in Kent, the decision came as a blow this week as around 2,400 jobs are at risk.

The site, which has had remarkable success stories, was Pfizer's congregation for more than half a century. The site saw hits like the development of Viagra, the company's successful impotence drug, the Norvasc heart drug, and Celsentri, for HIV/Aids treatment.

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Despite Q4 losses, GSK may buy back shares

GlaxoSmithKline (GSK) Limited is expected to resume its share buyback programme on Thursday despite loss due to a massive legal charge in the fourth quarter. The investors who had urged GSK to adopt ‘giving cash back’ decision of other major drug companies would greatly welcome this move.

According to Thomson Reuters estimation the giant British drugmaker is believed to reveal its forecast to record a loss of around 6 pence a share in its 2010 results.

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BTG to pay £160m for buying Biocompatibles

The pharmaceutical group, renowned for its varisolve varicose veins treatment, BTG is going to add oncology products in its profile by capturing drug device group Biocompatibles, paying £160m.

The company will be paying premium of 28 pc on yesterday's Biocompatibles' share price thus taking the per share price to 430p and giving four-fold increase to the private investors having 10 percent shares in the company.

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Novo Nordisk Plans to Discontinue Mixtard 30; Diabetics Concerned

Novo Nordisk has announced plans to drop Mixtard 30, an insulin drug, in order “to focus resources on developing the next generation of insulins”.

Mixtard 30 closely resembles insulin made naturally by the body, and is therefore known as human insulin. The new generation, called insulin analogues, have a different chemical make-up.

Dr. Anders Toft, Novo Nordisk’s UK Medical Director, says that Mixtard 30’s use is in decline. “There are several other preparations available which patients can switch to.”

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Hikma Still has $500m to Spend on Expansion

There are several procurements to be made by Hikma Pharmaceuticals as it still is said to have some $500m war chest to spend. It is said to have bought Baxter International's US drugs unit recently.

“You should see the big smile on my face. Our global injectables business has doubled in size overnight. We will see $180m worth of sales a year and our sales team will grow from eight to 28 people”, said Darwazah, Hikma's Chief Executive.

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