| Movetis highlights progress in first half of 2010 | Posted on 01/09/2010 in Pharmaceutical Company Financials Movetis has published its interim report for the first six months of 2010, reporting the progress it has made in its business development in the last six months.
The company has invested the majority of its outgoing expenditure during the first half of 2010 into supporting the launch of its new drug Resolor, including marketing, outsources research activities and personnel expenses.
Since launching the chronic constipation treatment for women in the UK and Germany earlier this year, it has generated around 600,000 euros (498,300 pounds) in sales, as well as earning National Institute for Health and Clinical Excellence backing for the drug.
In addition to this, the company also received a tender offer from pharmaceuticals firm Shire for the takeover of Movetis as a wholly-owned subsidiary.
This transaction is expected to be completed later this year, coinciding with Movetis' plans to expand the Resolor label with new indications and territory launches.
Earlier this year, Movetis' business practices were honoured at the European Mediscience Awards with three nominations, including Breakthrough of the Year and Chief Executive of the Year. Other news stories from 01/09/2010
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