Novo pulls plug on drug seen as key to its future

Article Abstract:

Novo Nordisk AS of Denmark has terminated the development of levormeloxifene, its experimental drug against osteoporosis. Industry experts believe that the development stoppage of levormeloxifene would prompt Novo to purchase drugs outside its own laboratories. Analyst John Reeve stated that levormeloxifene would have lead Novo's expansion away from developing diabetes medications. Reeve added that the Danish drug maker would now have to find newer products to ensure its position in the female health care industry.

Comment:

Terminates the development of levormeloxifene, its experimental drug against osteoporosis

Product development, Denmark, Pharmaceutical Preparation Manufacturing, Osteoporosis Therapeutic Preps, Bone disorder agents, Article, Novo-Nordisk A/S

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Rhone-Poulenc operating earnings leap

Article Abstract:

Rhone-Poulenc SA posted an improvement of 28% in its operating profits for the second-quarter of 1999. The company's profits were helped by strong growth in pharmaceutical sales in its flagship division. Rhone-Poulenc also benefited from the nascent rebound of Rhodia SA, its industrial chemicals unit. Rhone-Poulenc posted 156 million euros in quarterly one-time charges.

Comment:

Posts improvement of 28% in operating profits for second-quarter of 1999

Sales, profits & dividends, France, Chemicals & Allied Products, Chemical Manufacturing, Finance, Chemicals, Abstract, Chemical industry, Rhone-Poulenc S.A.

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