A roundup of today's other business news in brief
Sales of Tysabri lower than expected in second quarter
Sales of multiple sclerosis drug Tysabri were lower than expected in the second quarter of the year, according to figures out yesterday.
Biogen Idec, the US partner of biotech group Elan in the drug, said global sales of Tysabri rose to $298 million from $254 million a year ago, but analysts had expected sales of some $307 million.
The company said that, as of June 30th, about 52,700 patients were taking Tysabri, up from 50,300 patients as of the end of March. That translates into an average of 185 net new patients a week, up from 135 to 140 net new patients in the first quarter.
Despite the increase in the weekly number of new patients, sales were disappointing, something Paul Clancy, the company’s chief financial officer, said was due to the mechanics of how the company distributes the drug to partner Elan.
Tysabri was temporarily withdrawn from the market in 2005 after being linked with a potentially deadly brain infection known as PML.
It was reintroduced in 2006 along with stricter safety warnings, but doctors are closely monitoring the number of new cases of PML which are reported each month. – (Reuters)
WorldSpreads subsidiary in 188BET deal
The UK subsidiary of spreadbetting company WorldSpreads has signed a deal with 188BET to provide a financial spread betting service to the online bookmakers.
Under the terms of the partnership, WorldSpreads will provide 188BET’s customers with their online trading service. 188BET’s customers will now have access to indices, currencies, equities and commodities spread betting facilities.
The new service will target 188BET’s customers in Asia as well as the UK and Europe.
Earlier this month WorldSpreads posted a 666 per cent jump in profits after selling its Irish division last year.
IBM reports fall in new services deals
IBM disappointed investors by reporting a fall in new technology services contracts in the second quarter, while a weaker euro hit revenue more than expected, sending its shares down more than 4 per cent.
While firm growth in the company’s higher-margin software unit and sales in emerging markets bolstered profit, the results were not as good as investors had wanted to see from the world’s biggest technology services company.
IBM said its second-quarter revenue rose 2 per cent to $23.7 billion. Big Blue blamed currency rates for reducing revenue by about $500 million in the quarter.
However, analysts said they were also concerned about the low signings of services deals, a key indicator of future revenue. Signed services contracts fell 12 per cent to $12.3 billion, while total outsourcing services signings decreased 19 per cent to $6.5 billion.
Net profit slightly exceeded expectations and rose to $3.4 billion, or $2.61 a share, from $3.1 billion, or $2.32 a share, a year earlier. – (Reuters)
