Profit finally in sight for gene therapy specialist Oxford Bio - (London South East via NewsPoints Desk)

  • Oxford BioMedica is close to turning a profit for the first time thanks to the success of Novartis' investigational CAR-T treatment tisagenlecleucel, as reported London South East Wednesday.

  • The FDA is expected to approve the drug next month, which would trigger a payment of 65 million pounds to 75 million pounds annually for Oxford.

  • "It's a survival story," remarked Oxford CEO John Dawson, adding "there have been bad times but we can see a very bright future. We're in a good place now."

  • Analysts anticipate that Oxford will turn a full-year profit by 2019.

  • "The phones are very busy from other companies who would like to work with us," Dawson said, continuing "I believe we will sign further deals in 2017 and 2018."

  • FirstWord Reports: Providing insight, analysis and expert opinion on important Pharma trends and challenging issues <Click here>

To read more NewsPoints articles, click here.