Pharmaceutical company intelligence reports from Espicom provide a full review of the company's activities together with five-year sales forecasts for its key products. The company's financial performance is covered in-depth, from its latest results to a complete analysis of its latest full fiscal year and an outlook for the future. A section on company strategy covers mergers, acquisitions and divestitures, key agreements, products and R&D. An overview of key products and R&D is followed by a comprehensive review of the company's product portfolio and research and development pipeline by therapeutic area. In addition, supplementary appendices provide more in-depth information on financials, agreements and corporate events. Headquartered in Switzerland, Serono is a global biotechnology company with worldwide revenues of US$2,586.4 million in 2005. It has operations in more than 40 countries, sales in over 90 countries and major production facilities in four countries. In addition to being a leader in reproductive health, Serono has strong market positions in neurology and growth and metabolism, and has recently entered the dermatology area. The company's research programmes are focused on growing these businesses and establishing new therapeutic areas, including oncology and autoimmune diseases. In September 2006, Merck announced its intended acquisition of Serono in early 2007.

Current Growth Drivers
Rebif (recombinant human interferon beta-1a), which acts to delay the progression of disability in people with multiple sclerosis, remained as Serono's top-selling product in 2005. Sales totalled US$1,269 million in 2005, up by 16.4 per cent and accounting for 54 per cent of pharmaceutical sales. With ongoing life-cycle management initiatives, sales are forecast to continue their upward trend.

Saizen, Serono's first recombinant mammalian cell-derived human growth hormone, accounted for 8.8 per cent of pharmaceutical sales in 2005, up by 13.4 per cent to US$206 million. Marketed for the treatment of hypopituitary dwarfism due to growth hormone deficiency, it continues to be approved for further indications, including, in January 2005, the treatment of adult growth hormone deficiency.

The humanised monoclonal antibody, Raptiva (efalizumab), was the first biological therapy for psoriasis to receive EU marketing authorisation. First launched in 2004, with roll-out during 2005, it has demonstrated strong growth.

Gonal-f, Serono's recombinant human follicle stimulating hormone is the company's second largest selling product. In 2005, it saw growth in all major world markets with the exception of the US, where it faced pricing pressure from a US competitor.

Key Late-Stage Products
Cladribine is a purine nucleoside analogue that interferes with the behaviour and proliferation of certain white blood cells, particularly lymphocytes, which are involved in the pathological process of multiple sclerosis (MS). It has been designated as a fast track product by the FDA and is being evaluated in Phase III trials. It is currently leading the race for the first oral MS drug.

Zanolimumab (HuMax-CD4) is a fully-human monoclonal antibody under development for the treatment of cutaneous and non-cutaneous T-cell lymphomas. It is currently undergoing a pivotal Phase III trial for this indication under the FDA's Special Protocol Assessment (SPA) process.