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Neutec Pharma Share Discussion Threads
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Off topic, but out of interest due you have any opinions on York Pharma / Alizyme that you would care to share.|
|We should also note that the drug Mycograb is being used in conjunction with (amphotericin B) is falling out of use, being often replaced by Caspofungin these days, which is less toxic to patients. So the Mycograb trials are becoming obsolete.|
|A lucky escape indeed - NTP shares would have surely plummeted on that news!
Although Aurograb may be more important as it is for treatment of MRSA.|
|Agreed, whoever authorised the deal for Novartis must be well gutted. Interesting article on it at:
|Management sold out at the right time, as this wouldn't have been good for the share price.
17/11/2006, 2006, 3.03 PM CET
Novartis to provide additional clarification to EU regulators on data supporting approval of Mycograb® for serious fungal infections
Committee for Medicinal Products for Human Use (CHMP) issues negative opinion on 2005 Mycograb submission by NeuTec, which was acquired by Novartis in mid-2006
CHMP concluded that Mycograb demonstrated efficacy; negative opinion linked to questions about manufacturing and potential implications for product quality and safety
Novartis to provide clarification to EU regulators to support Mycograb approval as a novel treatment for critically ill patients
Basel, November 17, 2006 - Novartis announced today that it plans to submit additional information to the Committee for Medicinal Products for Human Use (CHMP) in Europe to support the approval of Mycograb®, in development as a treatment for life-threatening fungal infections, after the CHMP issued a negative recommendation.
This submission for European Union approval was made in 2005 by the UK biopharmaceuticals company NeuTec Pharma, which Novartis acquired in mid-2006 to expand its portfolio of compounds for hospital-acquired fungal and bacterial infections.
The CHMP opinion was not linked to the efficacy of the compound. The Committee concluded that there was insufficient data relating to the manufacturing and characterization of the product to determine the safety of the compound. Novartis is committed to working with the CHMP to determine appropriate next steps.
Mycograb is a complex biological product produced through microbial fermentation and is produced by third party manufacturers. Novartis is working closely with these manufacturers and the CHMP to provide further clarification and analyses and is confident of gaining regulatory approval. Mycograb had not been submitted for approval in any other country.
Mycograb is a twice-daily intravenous genetically recombinant antibody fragment, or "grab," add-on treatment targeting heat shock protein 90 ("hsp90") developed for treatment of invasive candidiasis. This life-threatening fungal infection, which is due to the Candida species, has a high mortality rate.
In clinical trials, the combination of Mycograb plus amphotericin B demonstrated clear superiority over amphotericin B monotherapy, considered the standard of care. Mycograb binds to the fungal hsp90, disabling the fungal defense mechanism and making fungi more susceptible to medicines such as amphotericin B. Mycograb has been granted Orphan Drug status in Europe and the US for use against invasive fungal infections, including invasive candidiasis.|
|game coming 2 an end asmarket not not expecting counter bid shameful|
|Can anyone comment on the 4.5 million+ trade? Shown as a buy above.|
|Indeed , I declined as I would lose little , I am hardly a majority holder. I just thought it odd that they would bother. However it sounds like its all pretty well over anyways.|
|decline, you can always accept later........I think?|
|My broker has just asked me if I want to accept the offer.|
|I too think £10.50 is much too low.
EMEA Mycograb approval could come any time, and seems a foregone conclusion, given the data to hand.
If Aurograb is also succesful in its latest trials (which IMO seems very likely) the market there must be massive (with attendant high profile press attention for anything to do with MRSA /'hospital superbugs'!).
Come on another bidder!! Surely this is worth £20 at least.
|Over 100/- gone thru at 1054/5 level off sets|
|On further checking you may be right, strong bids at 1050p at close|
|I believe the IC said the 29th but could be wrong on that.
Also, just like to mention that the EMEA review their human drugs this week,
abit of a long shot at this point, but you never know.|
|I think they have 21 days to publish an formal offer document, which takes us to tomorrow 28th June, rivals may wait to see this before making a higher offer.
That is what I would do anyway?|
|Is there a timetable for when it is all finalised ?|
|I am convinced that there will be a higher offer, not sure what the level will be..........
However, I notice that there is a good buyer at present who has been paying 1050 and higher and not small amounts of stock, now why would someone be paying such large amounts consistently if there was not going to be a higher offer.
In the close auction on friday there were bids for over 50/- shares at 1050p appeared in last few moments of trading..........
any other views..?|
|Agreed mw8156, I am really dissapointed with the bid offer and believe it
to be too cheap. I had put a higher figure than £30 to £40 on this stock if Aurograb comes up with the goods. I'm hoping it won't succeed but as you say it probably will. Oh well, time will tell.|
|Neutec stock could reach 30 to 40 pounds by 2010 quotes Citywire of Evershed by 2010.
This guess is obviously not without risk but in my opinion could be higher with success for any of their other candidates so Im not too keen on the bid offered.I expect the short term city institutions will take the money and run and the Swiss may have picked up a bargain.
As for the Directors - they're happy too because the so called long term incentive plan put in place 21` months ago vests large numbers of shares in the event of a takeover making them very wealthy indeed.
I was against the plan at the time as they already had plenty of options. The only incentive for a LTIP in addition would be to sell out at the best price in the shortest time scale after two years had elapsed to minimise capital gains tax - a perverse incentive not in the interests of other shareholders who put up their risk capital in the rights issue at the time.|
|ft reports juicy counterbid on the way|
|OFT Enquiry announced - probably best to sell in the market now.|