Novo H1 sales increase by 19 percent in U.S.
PRINCETON, N.J. Novo Nordisk announced its first-half results for 2008 and announced that its sales increased by 13 percent in countries where it conducts business. Sales in North America increased by 19 percent for the period of Jan. 1 to June 30.
Operating profit increased by 11 percent to $1.164 billion, but that its net profit decreased by 13 percent to $954 million. The decrease is due to the one time gain of $300 million that Novo received when it sold its stake in the cancer diagnostics company Dako.
The company also announced that its operating profit will rise as much as 25 percent and forecasted sales growth of 11 to 13 percent in the countries where it does business.
Lannett’s generic antibiotic receives FDA approval
PHILADELPHIA The Food and Drug Administration has approved Lannett Company’s application for a generic version of Par Pharmaceutical’s Adoxa, Lannett announced Friday.
The drug, known generically as doxycycline tablets, will be available in doses of 75 mg and 150 mg.
Combined sales of generic doxycycline tablets in those doses were $25.8 million in 2007, according to Wolters Kluwer. The drug is an antibiotic used for urinary-tract infections, sexually transmitted infections, acne and others.
Pfizer to shift some biotech workers to California
SAN FRANCISCO Pfizer is planning on moving about 100 of its employees, including the headquarters of its new Biotherapeutics and Bioinnovation Center, to San Francisco, according to the San Francisco Business Times. The new location will be used to help develop Pfizer’s biotech pipeline.
Pfizer agreed Friday to a long-term lease of almost the entire five-story, 105,000-square-foot west wing of Alexandria Real Estate Equities planned office/laboratory complex in Mission Bay.
Pfizer will move to the complex starting in early 2010, according to a company spokeswoman. Biotech industry veteran Corey Goodman, who was hired last year when the BBC was created, will head the new BBC location.
According to Goodman, “as much as 25 percent of Pfizer’s pipeline could be in biotherapeutics, and one in five drugs on the market would be a biotherapeutic.”