In no-holds-barred action, the European Medicines Agency has accused India-based CRO GVK Biosciences of systematically faking clinical trials for about 700 generic drugs marketed throughout the world. The products of dozens of generic makers are among the drugs involved, including popular antidepressants.
China biotech Innovent's recent success in raising $100 million in venture capital to help it build a pipeline of biosimilars could be a signal of how the industry may be set to explode in a country about to invest $6.45 billion in startups.
India's Piramal Enterprises said it was on the cusp of buying a CDMO founded at the University of Kentucky. That comes weeks after Japan's Fujifilm Diosynth Biotechnologies bought half of a vaccine manufacturing specialist from the Texas A&M University System.
Last week, Smith & Nephew announced it was laying off 108 employees due to the closure of its St. Petersburg, FL, operations, saying the advanced wound care business would be better off if it operated in a single location in Fort Worth, Texas. This week it sold its Gilberdyke, England, factory, saying it would manufacture polyurethane films for its wound dressings from the nearby Kingston upon Hull facility instead.
LabCorp is diversifying. The big diagnostics player has swooped in to buy the contract research organization Covance for $6.1 billion in cash and stock, confident that a combination of its expertise with Covance's approach to contract drug development will make for a successful merger.
Making medical device prototypes using 3-D injection molding, rather than traditional aluminum molds, could reduce the costs and time associated with the product creation and iteration process. That's what major 3-D printer Stratasys is betting on with its new partnership with Worrell.
An employment report released today by EP Vantage found that 12 of the 15 biggest device companies added to their head count in 2013. And Abbott and Covidien would have been net hirers were it not for the divestment of their pharma arms that year--resulting in the transfer of jobs to other companies, leaving Boston Scientific as the only large company to truly eliminate jobs last year.
Cubist is going through a bad patch with outsourced production. The problems began in August 2013, when CMO quality failings prompted Cubist to recall four lots of its injectable antibiotic Cubicin. Having summoned back another lot in April, Cubist has now issued a much larger recall, with about 100 lots affected.
The second shift at St. Jude Medical's cardiology device manufacturing facility in Sylmar, a suburb of Los Angeles, is being eliminated, resulting in the loss of up 270 jobs. The layoffs will take effect July 28, reports the San Fernando Valley Business Journal.
Contract services company Aptuit will invest $1 million in its facility in Glasgow, Scotland, to expand its capacity to manufacture sterile cytotoxic liquid and lyophilized drug products.