LONDON (ShareCast) - Alizyme rallied on news that it could net up to €42.75m after it granted an exclusive licence to Norgine for the rights to market Colal-Pred, used to treat ulcerative colitis, in Europe, South Africa, Australia and New Zealand.
The UK drug developer will receive £2m upfront and another €40.75m based on the future development and sales milestones.
Gastroenterology-focused Norgine will cover all commercialisation costs and will pay double digit royalty rates to Alizyme that increase with higher annual net sales levels.
Security alarms specialist Visonic expects to report a ‘substantial improvement’ in profit for the six months to 30 June, despite the continuing adverse impact of the strength of the Israeli shekel.
The group said sales in the second quarter of its core business of security and home management are estimated to be up about 19% in comparison with the corresponding period in 2007, with increased sales to almost all its territories and particularly robust growth in Europe.
"I am delighted to report that Visonic's strategy of driving our sales growth through mass market channels, primarily partnerships with leading security and utility companies, is proving successful, as these excellent sales trends show,"said chief executive and president Avigdor Shachrai.
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