Sosei Group To Revise Strategy And Reduce R&D Expenses
This article was originally published in PharmAsia News
Executive Summary
Tokyo-based biopharmaceutical company Sosei Group announced May 14 forecasts for fiscal year 2008 and a review of its strategy. Net sales is estimated to be ¥190 million and income will be at a loss of ¥3.18 billion. In R&D expenses, compared to nearly ¥4 billion in fiscal year 2007, it is estimated to be ¥900 million for FY 2008. Sosei will maintain the rights to NVA237/QVA149 that were in-licensed from Novartis, but will seek to out-license or sell all other assets generated in the U.K. including AD923, a cancer breakthrough pain drug. The company will no longer operate a drug discovery unit but will continue to develop in-house neuropathic pain drug SD118 and emergency contraceptive SHO-175. (Click here for more - Japanese language)
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