AstraTech sold to Dentsply
AstraZeneca has sold its Astra Tech business to DENTSPLY for approximately $1.8 billion in cash. In 2010 Astra Tech recorded worldwide revenue of $535 million and normalized EBITDA of $105 million, with net assets valued at approximately $0.3 billion at May 2011 rates of exchange. The transaction is anticipated to be completed during the second half of 2011, subject to receipt of relevant regulatory clearances.
Zealand Pharma collaborates with Boehringer Ingelheim
The two companies have entered a licence and collaboration agreement to advance novel compounds to treat Type-2 diabetes and obesity. Boehringer Ingelheim obtains global rights to glucagon/GLP-1 dual agonists, including ZP2929, Zealand Pharma’s lead drug candidate in this class. The Danish company is eligible to receive total projected milestone payments of up to €376 million for ZP2929.
Pharmadule strengthened after Morimatsu acquisition
Morimatsu Industry, a privately owned Japanese pioneer of tank technology, has acquired the Swedish company Pharmadule, a world leader of modular manufacturing facilities for the pharma and biopharma industries. The companies have been working together since the fall of 2009 and signed a collaboration agreement in January 2010. The new company will be named Pharmadule Morimatsu AB, and is headquartered in Stockholm, Sweden. It will continue and
develop the business that Pharmadule has carried out over the last 25 years.
Mendor collaborates with Novartis
The medical device growth company Mendor has started a local collaboration in Finland with the
pharma company Novartis Finland Oy. Novartis Finland is a part of the international Novartis
corporation, one of the world’s leading pharmaceutical companies.
The two companies have started a pilot project in Finland that aims to develop the treatment of
type 2 diabetes in a more tailored direction.
“The treatment should also be individual, as is the behavior of blood glucose”, says Mendor’s medical director, endocrinologist Antti Virkamäki.
Twelve clinics and 500 Finnish patients with type 2 diabetes take part in the project.
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