Unconfirmed Dutch order for Relenza boosts Biota
Monday, 12 September, 2005
Shares in Melbourne-based biopharma Biota Holdings (ASX:BTA) rose today in the wake of media reports that Holland has placed an order for Relenza, the anti-flu drug developed by Biota and commercialised by GlaxoSmithKline (GSK).
While Biota has not received confirmation from GSK of the order, its size, or potential value, it is reported that the Dutch Health Ministry has ordered five million doses of anti-viral medicines, including Relenza, for stockpiling in event of an influenza epidemic.
This follows an order by the German government for 1.7 million units of Relenza in August. Relenza normally sells for US$20 (AUD$26) per pack in Germany and Biota earns a 7 per cent royalty from Relenza sales.
Biota is currently suing GSK for up to $430 million for the pharmaceutical company's alleged failure to promote and support Relenza in the five years since it was launched.
Biota shares were trading at $0.84 at the time of writing, up from $0.765 when the market opened.
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