News

In January last year, Dr John Hayman read a biography of Charles Darwin and became intrigued by Darwin’s almost lifelong battle with a chronic, relapsing illness. But now, Hayman, an Associate Professor in Monash University’s Department of Pathology, thinks he’s narrowed it down to a rare mitochondrial disorder inherited from his mother.

Antibiotic developer Halcygen Pharmaceuticals today reported a maiden net profit of $3.25 million for the year ended June 30, 2010, largely driven by the company’s acquisition of Mayne Pharma International late last year from Hospira Inc.

Adelaide biotech Bionomics has presented the results of preclinical and clinical data for its anti-anxiety compound BNC210, demonstrating that the drug is more effective in treating stressed rats than the current market leader valium (Diazapem).

The Australian stock market just clawed its way into positive territory today as investors defied the prevailing gloom surrounding the US economy, although it wasn’t enough to snap a three-week losing streak.

A report by analyst group Datamonitor has identified China and India’s pharmaceutical industries as the ones to watch following a flurry of M&A activity over the last three years.

Australia’s biggest healthcare provider Ramsay Healthcare this week reported a 21.9 percent jump in full-year net profit to $178.5 million.

Troubled HIV drug developer Avexa may be poised for yet another coup after major shareholder Caldaza this week called for an extraordinary general meeting to discuss the future of the company

Testosterone booster Acrux this week stormed into the black for the first time, announcing a net profit of $46.6 million after earlier in the year signing one of the biggest ever multinational licensing deals for an Australian biotech.

Regenerative medicine specialists Mesoblast today reported a net loss of $14.8 million for the full year ended 30 June 2010, an increase on the previous year’s loss of $12.3 million.

It took nearly two decades to go from the release of the first semi-automated genome sequencer in the mid-1980s to the launch of Roche's flagship 454 FLX next generation sequencer in 2005. The 454 is now one of three major players in the next gen market whose impact on the world of genomics cannot be underestimated. Just five years later we are poised to embrace another new wave of sequencing technology.

Melbourne biotech Clinuvel announced today that it plans to conduct clinical trials of its UV protection drug Scenesse as a treatment for the skin pigmentation disorder vitiligo.

Regenerative medicine specialists Mesoblast announced this week that it has convened an extraordinary general meeting with shareholders to vote on the proposed acquisition of the company’s US partner Angioblast Systems.

Melbourne biotech Cellestis this week announced a full year net profit of $10.22 million, following strong growth in all of the company’s major markets.

The Australian stock market finished down today amid renewed concerns about the pace of the global economic recovery and as local investors await the outcome of tomorrow’s federal election, which has become too close to call.