Takeda Pharmaceutical Co. Ltd. and Abbott entered an agreement to conclude their TAP Pharmaceutical Products Inc. (TAP) joint venture, which was established in 1977. The companies expect the transaction to close within 30-60 days. Takeda plans to integrate TAP into two of its wholly owned U.S. subsidiaries, Takeda Pharmaceuticals North America, Inc. and Takeda Global Research and Development Center, Inc. The Lupron franchise will become part of Abbott's U.S. pharmaceutical business.
   
Under terms of the agreement, the companies will evenly divide the value of the joint venture. Abbott receives rights to the oncology treatment, Lupron, including the commercial organization supporting that franchise, and will receive payments based on TAP's other current and certain future products. Takeda receives the rights to the product Prevacid, all the remaining TAP commercial and support organizations, and the rights to TAP's pipeline. In 2007, TAP had revenues of $3.1 billion from its two marketed products, Lupron and Prevacid. TAP also has two NDAs under review with the FDA.
   
"I want to take this opportunity to thank our partners at Abbott and the many people who helped make TAP a successful company in its more than 30 years of existence," said Yasuchika Hasegawa, president, Takeda Pharmaceutical Co. "With this agreement Takeda combines two successful organizations and creates a top 15 pharmaceutical company with more than 5,000 employees in the U.S. This size and talent base creates a tremendous platform for continued growth in the world's largest pharmaceutical market, which plays a significant role in Takeda's ongoing global growth."
   
"Takeda and Abbott have shared in the commercial success of TAP for many years," said Miles D. White, chairman and chief executive officer, Abbott. "Now we have the opportunity to make a strategic change that equally splits the assets in a way that will benefit both Abbott and Takeda in the future. For Abbott, the addition of Lupron establishes an on-market presence in oncology where we have a number of promising compounds advancing through our pipeline."
   
Effective at the close of the transaction, Takeda Pharmaceuticals North America and Takeda Global R&D Center, will report to Takeda America Holdings, Inc. Alan MacKenzie, the current president of TAP and a former president of Takeda Pharmaceuticals North America, has been named executive vice president of Takeda America Holdings. Mr. MacKenzie will also serve as chief executive officer of Takeda Pharmaceuticals North America. Mark Booth, president of Takeda Pharmaceuticals North America, will stay with the company to support integration activities until the TAP transaction is closed. Nancy Joseph-Ridge, M.D., currently TAP's vice president of R&D, will assume her position at Takeda Global R&D Center.
   
"I have great confidence in Takeda's proposed new leadership for the U.S., an important market for Takeda's global growth plans," said Yasuchika Hasegawa, president, Takeda Pharmaceutical Co. "Alan MacKenzie not only helped launch both TPNA and its first product, Actos, he has been instrumental in helping create success at Takeda companies for more than 22 years. Dr. Nancy Joseph-Ridge is a well-known and highly respected physician, researcher and strong leader with an unwavering commitment to scientific excellence. I would also like to take this opportunity to thank Mark Booth for his many contributions to Takeda and wish him well in his future endeavors."

PRA has moved its Mumbai, India office to a larger, more centrally located facility. The new location is triple the size and includes more offices and conference and meeting spaces, and will accommodate the Mumbai team of 20 clinical operations staff and allow for future expansion of the workforce. The company expects to have 50 clinical team members by the end of this year. PRA India will potentially increase its service capacity by 150% in comparison to September 2007.
   
"This is an exciting time for PRA," said Dr. Sue Stansfield, executive vice president, product registration, Europe, Africa and Asia-Pacific. "The Mumbai team is a great example of PRA's global experience and therapeutic expertise. Their success in earning client trust and delivering service excellence has been key to the growth we're experiencing in India."
   
Services offered by staff in the Mumbai office include project management, clinical monitoring, clinical investigator identification and recruitment, study site selection and validation, submissions with EC/IRB and Regulatory Authorities, safety monitoring, pharmacy and drug depot services, and identification of service providers, including central laboratories accredited by the College of American Pathologists.

Icagen, Inc. has made following senior management promotions: Richard Katz, M.D. has been promoted to executive vice president, finance and corporate development, and chief financial officer; Douglas Krafte, Ph.D. has been promoted to vice president of biology and scientific affairs; Mark Suto, Ph.D. has been promoted to vice president of chemical and pharmaceutical sciences.
   
Dr. Katz has held the position of senior vice president, finance and corporate development, and chief financial officer since 2001. Prior to that he worked in the Investment Banking Division of Goldman Sachs, most recently as a vice president in the Healthcare Group.
   
"Rich has made significant contributions to Icagen during the last six years. With the combination of his medical and business training and his prior experiences in investment banking, he is able to contribute to our successes on many fronts. On behalf of the Board of Directors of Icagen, I am pleased to announce this well-deserved promotion,'' said P. Kay Wagoner, Ph.D., president and chief executive officer.
   
Dr. Krafte has served as vice president of biology for the last six years and previously as director of biology. From 1997 to 1999, Dr. Krafte served as group leader for ion channel research at Aurora Biosciences Corp. Prior to joining Aurora Biosciences, Dr. Krafte held positions at Sterling-Winthrop, Inc. and Boehringer Ingelheim.  
   
Dr. Suto has served as vice president of chemistry for the last four years. From 2003 until 2004, Dr. Suto served as executive vice president and chief scientific officer of Neurion Pharmaceuticals, Inc. In 2002, Dr. Suto served as vice president, chemical and biological sciences, at Deltagen Research Laboratories, a subsidiary of Deltagen, Inc. From 1999 until 2002, Dr. Suto served as executive director, chemistry, at DuPont Pharmaceuticals Co. (acquired by Bristol-Myers Squibb). Prior to joining BMS, Dr. Suto held positions at CombiChem, Inc. and Signal Pharmaceuticals Inc.  
   
"I have worked closely with Doug and Mark over a number of years and have seen them accept broad responsibilities in our research and discovery groups and succeed in those responsibilities. They are well-respected scientific leaders in whom I have the utmost confidence, and therefore I am pleased to announce this significant expansion of their responsibilities,'' said Dr. Wagoner.

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