(AOF) – As of September 30, 2023, MedinCell had cash and cash equivalents of 26.8 million euros including 15.0 million euros of non-risky current financial assets, compared to 6.5 million euros in cash and cash equivalents as of March 31, 2023. The biotech specialist in long-acting injectable drugs sees itself “fully able to respect the financial commitments made contractually with the EIB within the twelve months regarding the projected cash flow level.
She specifies that this time horizon “could increase considerably with the signing of new licensing agreements currently under discussion”.
“The collection of commercial revenues will lastingly transform MedinCell, especially since Uzedy’s first prescription trends, as well as the feedback from professionals and patients, are very promising,” declares Christophe Douat, Chairman of the Management Board of MedinCell. “More good news is that revenues from Uzedy should quickly be supplemented by those from mdc-TJK, whose phase 3 results are now expected in 2024.”
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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.