(AOF) – Adocia, a biotechnology company specializing in the discovery and development of therapeutic solutions in the field of metabolic diseases, recorded an increase in its turnover in the second quarter. It comes to 6.7 million euros against 0.28 million euros.
The company’s cash amounted to €23.9 million as of June 30, 2022, compared to €15.2 million as of December 31, 2021.
The increase in cash is due to two significant events: on the one hand the sale of the building in March 2022, which resulted in a net cash inflow of 18.9 million euros3, and on the other part by the collection of 4.2 million euros related to the milestone payment received from the company Tonghua Dongbao (THDB).
Based in Lyon, the company, listed on the Euronext market, has approximately 115 employees.
AOF – LEARN MORE
An inevitable race for new blockbusters
The patent for Merck’s star product, the cancer drug Keytruda, which accounts for more than 35% of its sales, expires in 2028. Despite the loss, since 2019, of the patents for its three star products (Avastin, Herceptine, Rituxan) Roche was able to renew its portfolio by bringing new molecules to market. However, the discovery and launch of new drugs are increasingly expensive. AstraZeneca spends about $6 billion a year on R&D in a pharmaceutical industry where the life of a patent only lasts ten to fifteen years. This leads laboratories to withdraw from certain activities. Thus J&J, Pfizer, GSK and, no doubt, Novartis soon prefer to refocus on specialty drugs and abandon any ancillary activity.