(AOF) – Abionyx Pharma posts consolidated quarterly turnover of 1.4 million euros for the 1st quarter of 2024, organic growth of 18% compared to the first quarter of 2023. The biotech dedicated to the discovery and development of therapies innovative products based on the only recombinant human apolipoprotein apoA-I in the world has a cash flow of nearly 2.7 million euros (this is before receipt of the future Research Tax credit of an estimated amount of 1.4 million euros) compared to 2.90 million a year ago.
Concerning the activity devoted to the discovery and development of innovative therapies aimed at improving the lives of patients, the biotech did not generate any turnover over this quarter, Abionyx Pharma continuing to provide its bioproduct free of charge as part of the compassionate access authorization (CAA) applications.
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Oncology, priority of pharmaceutical giants
Sanofi’s stock market disappointment recorded at the end of October 2023 underlines the new direction for the group, which has now set oncology as its number 1 priority. Efforts in this segment, where therapies are advancing the fastest, notably involve investments in R&D which weigh on profitability. Sanofi therefore announced a drop in its earnings per share in 2024 and the abandonment of its objective of an operating margin of 32% in 2025. Merck has just unveiled a new alliance. It will pay up to $22 billion to the Japanese group Daiichi Sankyo as part of a partnership on experimental cancer treatments. While some experts estimate that the United States represents nearly half of global oncology spending (drugs and treatments), or $196 billion in 2022, Chinese spending in this area has more than doubled in five years, going from 5 to 11.8 billion dollars.