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Drug deal signals rebound in demand
Source: Agencies |
September 9, 2010, Thursday
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Print Edition
Print Edition
LONZA said it will manufacture a number of drug compounds for Britain's GlaxoSmithKline, in a sign demand from pharmaceutical clients is reviving.
The Swiss drugs industry supplier said it would produce five early stage monoclonal antibodies from GSK's biopharmaceutical pipeline. It did not give any financial details of the deal.
"(It is) A meaningful addition to its services and small-to-mid scale production portfolio, especially as it strengthens the relationship with key customer GSK," Kepler analyst Florian Gaiser said in a note. "However, the projects are small and early stage, such that significant revenues and profits are 2-3 years away."
Faced with a tougher road to get their medicines to market, some drug makers have been more cost conscious and kept producing in-house rather than turning to companies like Lonza.
The Swiss drugs industry supplier said it would produce five early stage monoclonal antibodies from GSK's biopharmaceutical pipeline. It did not give any financial details of the deal.
"(It is) A meaningful addition to its services and small-to-mid scale production portfolio, especially as it strengthens the relationship with key customer GSK," Kepler analyst Florian Gaiser said in a note. "However, the projects are small and early stage, such that significant revenues and profits are 2-3 years away."
Faced with a tougher road to get their medicines to market, some drug makers have been more cost conscious and kept producing in-house rather than turning to companies like Lonza.
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