The Investment Column: Protherics
Friday 17 December 1999
Perhaps more oddly, this fresh predatory stance comes just as Protherics clinched a rather tasty deal with Eli Lilly, the US pharmaceuticals giant, to license its molecular design technology to develop drugs which limit blood clotting. That's a huge market, and Eli Lilly's last such deal netted $30m (pounds 19m) for for Xenova, another UK biotech.
Protherics would say only that the deal could generate licence fees of at least $5m. Eli Lilly has gagged Protherics on the financials of the deal, but the total package, including royalities, should add up to between $25m and $40m. Investors should in any case take heart that a company such as Eli Lilly has at last endorsed a Protherics product.
Elsewhere, there's less excitement in the portfolio. The group's rattlesnake bite treatment is still facing regulatory hurdles and will not be on the market ahead of the summer, when rattlesnakes come out to play. The shares barely moved on yesterday's results, which came in bang in line with forecasts. The news the group is looking for more deals is no sign of weakness now Eli Lilly has given its stamp of approval. The shares, at 45.5p, are worth a punt.
Edited by Chris Hughes
- 1 The difference between a migrant and refugee, in one sentence
- 2 Miley Cyrus calls out hypocrisy of women’s nipples being taboo
- 3 Celebrity Big Brother 2015: Tila Tequila kicked off show after 'describing Hitler as a good man'
- 4 iPhone 5c to be discontinued, no iPhone 6c to replace it
The difference between a migrant and refugee, in one sentence
Spain accused of 'provocation' after letting Russian submarine refuel off Gibraltar
Allonautilus scrobiculatus: World's 'rarest' creature spotted for only the third time ever
Miley Cyrus calls out hypocrisy of women’s nipples being taboo
Celebrity Big Brother 2015: Tila Tequila kicked off show after 'describing Hitler as a good man'
Climate change: 2015 will be the hottest year on record 'by a mile', experts say
Labour leadership: Jeremy Corbyn accused of 'deluding' young supporters with 'claptrap'
'Women only' train carriages: Jeremy Corbyn unveils radical move to tackle public harassment
Black holes are a passage to another universe, says Stephen Hawking
Iain Duncan Smith 'should resign over disability benefit death figures', says Jeremy Corbyn
Iain Duncan Smith calls for urgent ESA overhaul as part of drive to cut down welfare costs
iJobs Money & Business
£25000 - £30000 per annum: Recruitment Genius: From modest beginnings the comp...
£35000 - £40000 per annum: Recruitment Genius: From modest beginnings the comp...
£15000 - £65000 per annum: Recruitment Genius: This is an exciting opportunity...
£18000 - £20000 per annum: Recruitment Genius: This is a fantastic opportunity...