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Neurocrine Restructures After FDA Letter
December 14, 2007
Neurocrine Biosciences announced that it will lay off approximately 130 employees at its San Diego campus, as a part of its restructuring program to prioritize its R&D programs and associated costs and expenses after an FDA delay on insomnia trea…   Read More »
No Buyer For Biogen Idec
December 13, 2007
The board of directors at Biogen Idec have elected to keep the company independent, after a two-month flirtation with selling out to a larger company. The company announced that it did not receive "any definitive offers" for an acquisition.…   Read More »
Merck Withdraws Vaccines On Sterility Fears
December 13, 2007
Merck has initiated a voluntary recall of 11 lots of its Haemophilus influenzae type B vaccine, PEDVAXHIB, and two lots of its combination Haemophilus influenzae type B/ hepatitis B vaccine, COMVAX . The recall is specific to these 13 lots and does n…   Read More »
Novartis Restructures, To Fire 2,500
December 13, 2007
Novartis has announced a restructuring plan called, "Forward," to reduce costs and improve efficiencies. According to a company statement, the plan "is expected to simplify working processes and decision making by eliminating layers, c…   Read More »
West To Restructure Tech Group
December 12, 2007
West Pharmaceutical Services will implement a restructuring plan for its Tech Group segment. The restructuring "addresses the recent reduction in business due to changes in customers' marketing plans by reducing the operating costs and increasin…   Read More »
Gene Logics Sells Assets, Renames
December 11, 2007
Shareholders of Gene Logic have approved the sale of the company's genomics assets to Ocimum Biosolutions and the subsequent renaming of the company as Ore Pharmaceuticals. The genomics sale is expected to close later this week and will effectively l…   Read More »
Eisai To Acquire MGI Pharma
December 10, 2007
Eisai Co., Ltd. will acquire MGI Pharma for approximately $3.9 billion in an all-cash transaction. The acquisition has been unanimously approved by MGI's board; it is expected to occur by means of a tender offer followed by a cash merger, is subject…   Read More »
BMS To Lay Off 4,300 In Restructuring Bid
December 6, 2007
Bristol-Myers Squibb has publicized the details of its restructuring initiative as it works to become a "next-generation BioPharma company." With the aim of generating $1.5 billion in annual pre-tax savings by 2010 (the year that top-seller…   Read More »
Pharmetics To Acquire Patheon OTC Facilities
December 6, 2007
Pharmetics, Inc. has entered into an agreement to acquire the Niagara-Burlington commercial manufacturing business of Patheon for approximately $5.75 million. Pharmetics will acquire the assets -- including equipment, facilities and land -- at Patheo…   Read More »
Quest Pharmaceutical Re-Brands To QPS
December 4, 2007
Quest Pharmaceutical Services, LLC, a GLP-compliant CRO providing testing services to support preclinical and clinical research and development, has formally changed its name to QPS, LLC. The company commissioned independent market research to eva…   Read More »
CMC Expands Bio-CMO Footprint With Icos Purchase
December 4, 2007
CMC Biopharmaceuticals A/S has reached an agreement with Lilly to buy the biologics development and manufacturing operation of ICOS Corp., which Lilly bought on in January 2007. CMC, a Copenhagen, Denmark-based bio-CMO, will purchase the biologics fa…   Read More »
Aptuit Completes Evotec CPD Acquisition
December 3, 2007
Aptuit, Inc. has completed the acquisition of Evotec's Chemical and Pharmaceutical Development (CPD) business. The move allows Aptuit to integrate an API facility in Oxford, England and a recently expanded parenteral fill/finish facility in Glasgow,…   Read More »
QLT Considers Selloff
November 28, 2007
QLT Inc. has formed a Special Committee to "review all strategic alternatives available," according to a company statement. The committee, comprised of three independent directors from the board, has appointed Morrison & Foerster, LLP a…   Read More »
GSK To Acquire Reliant Pharmaceuticals
November 21, 2007
GlaxoSmithKline has entered an agreement to acquire Reliant Pharmaceuticals Inc. for $1.65 billion in cash. Reliant is a privately held specialty pharma company focused on cardiovascular therapies. In the nine months ending September 30, 2007, the co…   Read More »
Covance Buys Eli Lilly Plant
November 21, 2007
Covance, Inc. purchased a partially constructed manufacturing facility in Prince William County's Technology Park from Eli Lilly. The company intends to transform the current facility into a 410,000-sq.-ft. state-of-the-art early drug development lab…   Read More »
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