Key Developments: Actelion Ltd (ATLN.VX)
Latest Key Developments (Source: Significant Developments)
Actelion Ltd announced that for fiscal 2012, it expects product sales on a local currency basis to decline in the low-single-digit range compared to the mid- to low-single-digit range communicated earlier in the year, in February. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $1.72 billion for fiscal 2012. Full Article
Reuters reported that Actelion Ltd said it planned to cut up to 135 jobs as part of cost-cutting to focus on research in pulmonary arterial hypertension, or PAH. The firm said it was minimising the number of potential redundancies through natural attrition, early retirements and similar measures. Full Article
Auxilium Pharmaceuticals, Inc. And Actelion Pharmaceuticals Ltd. Enter Collaboration Agreement For XIAFLEX In Canada, Australia, Brazil And Mexico
Auxilium Pharmaceuticals, Inc. and Actelion Ltd announced that they have entered into a long-term partnership for the development, supply and commercialization of XIAFLEX (collagenase clostridium histolyticum), a first-in-class biologic for the potential treatment of Dupuytren's contracture and Peyronie's disease. Under the terms of the agreement, Actelion will receive exclusive rights to commercialize XIAFLEX for the treatment of Dupuytren's contracture and Peyronie's disease in Canada, Australia, Brazil and Mexico upon receipt of the respective regulatory approvals. Actelion will be primarily responsible for the applicable regulatory and commercialization activities for XIAFLEX in these countries. Under the terms of the agreement, Actelion will pay Auxilium $10 million upfront and will also make up to $16 million in potential regulatory, pricing and reimbursement payments and $42.5 million in potential sales payments. Auxilium will also receive increasing tiered double-digit royalties based on sales of XIAFLEX in Actelion' territories and will supply product to Actelion at a predetermined cost. Auxilium will remain primarily responsible for the global development of XIAFLEX in Peyronie's disease and will be responsible for all clinical and commercial drug manufacturing and supply. Actelion will be responsible for clinical development activities and associated costs corresponding to any additional trials required for specific territories. Full Article
Reuters reported that Actelion Ltd expects to return to profit in fiscal 2012 despite competition from rivals and pricing pressures and said key trial results for its new heart and lung drug would be ready in the second quarter. The group expects sales to fall in the low-to-mid single digit range on a local currency basis in fiscal 2012 after rising 5% in local currencies to CHF1.8 billion last year. Full Article
ZURICH, Dec 5 - Europe's largest biotech company Actelion said it will buy back up to 10 million shares for around 720 million Swiss francs ($795 million) over the next three years.