A bitter pill to swallow
Article Abstract:
British Biotech was once regarded as one of the UK's most promising companies, but it now faces an uncertain future. The company came into conflict with Andrew Millar, head of research, and saw a dramatic fall in its share price. It has been necessary to abandon the anti-pancreatitis treatment Zacutex following inconclusive trials, and the company has also been negatively affected by disappointing results for the anti-cancer drug Marimastat. New Chief Executive Elliot Goldstein now plans a return to basics.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1999
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Millar condemns Biotech's drugs
Article Abstract:
British Biotech has denied allegations from former head of clinical research Andrew Millar that it is running short of money. The company has also rejected Millar's claims that the chance of Marimastat, one of its key products, being successful is only around 40%. Millar has stated that the board of British Biotech is being far too optimistic, particularly in relation to Zacutex, another key drug. He was dismissed for allegedly breaching confidentiality clauses in his contract by talking to shareholders.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1998
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UK biotech loses formula for success
Article Abstract:
A crisis of confidence has emerged in the UK biotechnology sector following a series of disappointing drug tests. There are now growing signs that this crisis could have a negative impact on the long-term prospects for biotechnology companies. The share prices of these companies have declined dramatically, and new biotechnology companies are finding it increasingly difficult to raise funds to pay for costly research programmes.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1998
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