Relenza order report leaves Biota mystified
Thursday, 11 August, 2005
Biota Holdings (ASX:BTA) has backed as "accurate" a newspaper report that Germany has placed an order of more than AUD$100 million for Relenza, the anti-flu drug developed by Biota and commercialised by GlaxoSmithKline.
The report, in The Australian newspaper, said the German government had ordered 17 million units for stockpiling in event of an influenza epidemic -- eight times the amount of Relenza sold globally in 2005/06. Biota earns a 7 per cent royalty from sales of Relenza.
"While all indications are that the report is accurate, Biota itself has not had confirmation from GSK of the order, its size or its potential value," said Biota CEO Peter Molloy.
Biota is currently suing GSK for up to $430 million for what it says is the big pharma's failure to promote and support Relenza in the five years since it was launched.
"The German order demonstrates that Relenza is suitable and would have been stockpiled by more governments if GSK had supported it," Molloy told The Australian.
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