AstraZeneca update
Published: 18-Apr-2002
AstraZeneca is investing US$66m (€75m) in a new production facility for Nexium Intravenous (IV) at its site in Soedertaelje, Sweden. The capital expenditure provides a new facility for the production of Nexium vials, and will be fully operational in 2005.
Barrie Thorpe, executive vice president operations, commented: 'Two of our most important recent new product launches, the acid inhibitor Nexium and the asthma inhaler Symbicort, demonstrated how quickly global launches of megabrands can be achieved.'
The company has also announced that its subsidiary, Astra Pharmaceuti-cals, is to make a voluntary public offer in India to purchase the 43.5% of shares in AstraZeneca Pharma India it does not already own.The offer of Rs375 per share represents a 31% premium on the average price for the week ending 1 March, 2002, and a 44% premium on the average for the previous six months.
In a judgement handed down by the High Court in London, the Patents Court has said that two of AZ's formulation patents for omeprazole, the active ingredient in Losec, are invalid. This follows a legal challenge by two UK generic pharma companies, Cairnstores and generics (UK). AZ says it will seek leave to appeal.On the positive side, the FDA has granted a six month priority review for the sNDA of AZ's oral, once daily hormonal medication Casodex (bicalutamide 150mg) for the treatment of early stage non-metastatic prostate cancer.
