Business & Industry News Channel
All in all, the Merck Group performed solidly during the first quarter of 2009. However, Merck is not an island. The recession is affecting the company's results, mainly in the Chemicals business sector. In addition, this year's first quarter is compared to a very strong first quarter in 2008.
AstraZeneca announced that the Committee for Medicinal Products for Human Use (CHMP), the scientific advisory committee of the European Medicines Agency (EMEA), has issued a positive opinion supporting approval of the targeted oral anti-cancer drug, IRESSA (gefitinib).
Pharmaceuticals delivers strong underlying growth in first quarter of 2009 as Novartis continues to rejuvenate product portfolio. Group's strong operational performance led by Pharmaceuticals net sales growth of 12% in local currencies on rapid expansion of recently launched products.
Nycomed's Instanyl (intranasal fentanyl spray) received a positive opinion from the European Medicines Agency's (EMEA) Committee for Medicinal Products for Human Use (CHMP), recommending the granting of a marketing authorisation. Instanyl is aimed at managing breakthrough pain in adult cancer patients already receiving maintenance opioid therapy for chronic pain. If approved, Nycomed intends to launch the product in 2009.
Pfizer Regenerative Medicine today announced that it has entered into a collaboration and license agreement with University College London focused on gaining better understanding into how to develop stem cell-based therapies for certain ophthalmic conditions. The Pfizer/UCL collaboration brings together the pioneering work of university researchers in the field of cell-based therapies and Pfizer's expertise in the design and delivery of therapeutics. 
Genzyme Corp. (NASDAQ: GENZ) reported that first-quarter revenue rose to $1.15 billion, compared with $1.10 billion in the same period a year ago, an increase of 4 percent. Including the $66 million impact of unfavorable currency exchange rates, revenue grew 10 percent in the first quarter. GAAP net income rose 35 percent to $195.5 million, or $0.70 per diluted share, compared with $145.3 million, or $0.52 per diluted share, in the first quarter of 2008. Non-GAAP net income grew 10 percent to $288.1 million, or $1.04 per diluted share, compared with $260.9 million, or $0.95 per diluted share, in the same period last year.
The Roche Group recorded total sales of 11.6 billion Swiss francs in the first quarter of 2009, an increase of 8% in local currencies (7% in Swiss francs; -1% in US dollars)1 compared with the year-earlier period. Growth was driven mainly by continued strong sales of key products in the Group's oncology, virology, ophthalmology and inflammation portfolios, and of Roche Diagnostics' immunoassay systems.