Swedish drug giant ends development deal with Allelix

Article Abstract:

Astra AB has cancelled its deal to develop an osteoporosis drug created by Allelix Biopharmaceuticals Inc. of Mississauga, Ontario. The company was supposed to start the Phase III trials of the drug in December 1998, in time with Allelix's release of the results of the Phase II trials. But now, Allelix, which has reacquired rights to its ALX1-11 drug, is looking for another partner to help develop and market the drug. Allelix cannot start with the Phase III trials unless it finds another partner.

Comment:

Has cancelled its deal to develop an osteoporosis drug created by Allelix Biopharmaceuticals

Sweden, Osteoporosis Therapeutic Preps, Astra AB, Bone disorder agents, Article

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Drug firms facing short-term financial pressures, study says

Article Abstract:

International pharmaceutical companies will experience short-term financial pressures, according to a report by the Boston Consulting Group. The drug sector will not meet the 13% profit growth over the next five years projected by most analysts, and will likely face difficulties in even meeting a 7.7% growth. BCG predicted the pharmaceutical companies will lose around 35% of their 1995 sales to generic drug competitors in the next five years.

Market information - general, World, Pharmaceutical Preparations, Drugs

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U.S., U.K. okay Hemosol blood substitute tests

Article Abstract:

Hemosol Inc of Toronto, Ontario, has been given the go-ahead from US and UK regulators to start Phase III clinical trials on its Hemolink blood substitute product. The trials will initially use the blood substitute for heart bypass surgery, and later for orthopedic surgery and anemia. Company president John Kennedy expects the heart bypass and orthopedic trials to be completed by the first half of 2000.

United Kingdom, United States, Biological Product (except Diagnostic) Manufacturing, Synthetic Blood, Hemosol Inc.

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