Predictions that 2004 could see another wave of consolidation in
the pharmaceutical industry were lent further weight yesterday by
the announcement that Japanese drug majors Yamanouchi and Fujisawa
intend to merge in a $7.7 billion...
Dutch chemical company Akzo Nobel followed through on its plans to
cut costs at its pressured Diosynth subsidiary by slashing staff at
the unit, which has been hit by a deteriorating market for its
manufacturing services in both chemical...
Lonza has signed two new agreements for the supply of monoclonal
antibody-based drugs that provide an early fillip for its contract
manufacturing business, which was adversely affected by
overcapacity in 2003.
Cardinal Health has said that it will not be proceeding with a $100
million (€78m) information technology and manufacturing facility in
Longford, Ireland.
Israel's Teva Pharmaceutical Industries has reported strong
increases in sales across its branded, generic and active
pharmaceutical ingredient (API) operations in the fourth quarter of
2003, as net income rose by more than a...
In its last set of annual results before being acquired by General
Electric, Amersham of the UK reported lower profits last year as
currency effects bit into the company's bottom line, but saw its
drug discovery unit move into...
DSM will cut around 500 jobs at its Chemelot site in Geleen, the
Netherlands over the next two years, in an effort to cut costs by
over €50 million per annum. The jobs will largely go in support
services and manufacturing staff departments.
Mark McClellan, considered the most industry-friendly Commissioner
that the US Food and Drug Administration has had in years, could be
leaving his position before the end of the month, according to
industry speculation.
Troubled chemicals company Rhodia has pressed ahead with plans to
sell off its food ingredients portfolio, allowing it to focus on
its core chemicals and pharmaceuticals businesses.
Germany's KGaA has announced plans to sell off its laboratory
distribution business VWR International and operate as a smaller,
higher-margin business focused on pharmaceuticals, chemicals and
liquid crystals.
Earlier this week, the US Food and Drug Administration suspended
the approval of a generic version of Pfizer's high blood pressure
drug Norvasc (amlodipine besylate) developed by India's Dr Reddy's
Laboratories. The...
Fisher Scientific International has swooped on two companies
providing tools for life sciences companies in a move designed to
boost its product range for research laboratories and
biopharmaceutical production.
Sir Tom McKillop, chief executive of AstraZeneca, has delivered a
stinging attack on parallel trade in pharmaceuticals as a factor
that is contributing to the ground lost by European pharmaceutical
companies to their US peers over...
DSM of the Netherlands saw its operating profit slump 23 per cent
to €294 million last year, hit by higher raw material costs and
declining sales of its life sciences products.
Swiss-American laboratory instrument company Mettler-Toledo saw its
fourth-quarter revenues climb 7 per cent to $370 million (€290m)
although the weak dollar accounted for a large proportion of the
increase.
Shares in Cobra Biomanufacturing of the UK fell 30 per cent
yesterday after the contract manufacturer of proteins, DNA and
viruses gave a warning on profits.
A US programme aimed at shortening the development time for new
pharmaceutical and biological drugs - which involves close
collaboration between the Food and Drug Administration and the
developer - is now underway.
The cost of implementing the US Medicare Act - which for the first
time provides a prescription drug benefit for the elderly and
disabled - is rising fast and represents a 'cave-in' to the drug
industry by the US government.
Fisher Scientific, the US-based science and laboratory products
group, hinted earlier this week that it may be looking to make
another acquisition, despite its prediction of a period of
consolidation in the wake of its $714 million...
LION bioscience has delayed the publication of its third-quarter
results after a change in its accounting procedures that will see
licence revenues spread across the term of the contracts, instead
of booked in the quarter they are...
Novartis' generic drugs subsidiary Sandoz has opened two new
manufacturing plants in Austria and Slovenia that mark its entry
into the contract manufacture of biopharmaceuticals using mammalian
cell culture.
Tablet-coating specialist BioProgress formalised its agreement with
US chemicals and machinery group FMC in deal that could be worth up
to $160 million (€128m) in revenues in the first six years.
Pharmaceutical, chemical and coatings company Akzo Nobel reported a
9 per cent slide in net income in 2003 but said the result was
better than expected given the difficult operating environment last
year.
AstraZeneca has launched new production lines at its production
facility in Dunkerque in northern France, following a 24 per cent
growth in its respiratory sales in 2003. The new lines will produce
aerosol-delivered medicines for...
Hyderabad, India-based Dr Reddy's Laboratories has reported
revenues of 5.1 billion rupees (€89m) in the third quarter of
fiscal 2004, up 18 per cent and ahead of analysts' forecasts.
Aventis could hang on to its 15 per cent stake in chemicals company
Rhodia under the terms of a new agreement with the European
Commission. The company will instead sell off its 49 per cent stake
in Wacker Chemie over the next several...
UK chemical sector growth, including pharmaceuticals, is forecast
at 3.6 per cent for 2004, outperforming the 2.3 per cent growth
estimated for Europe as a whole, according to a study presented at
the Chemical Industry Association's...
Sanofi's hostile bid for larger French rival Aventis may have been
rejected, but there are a number of arguments in favour of a link,
according to analyst Nicole Lamble at market research firm
Datamonitor.
Danish company Chr Hansen saw its revenues slip 4 per cent in its
first quarter, as the impact of the economic downturn and tough
dollar exchange rate was felt across its business units.
Monsanto and Pfizer's Pharmacia subsidiary have asked a federal
judge to either deny or postpone a request by Solutia to eliminate
liabilities to its former parent Monsanto.
Filtration specialist Millipore has reported strong growth in sales
in the fourth quarter of 2003, suggesting that the fortunes of the
biopharmaceutical industry - Millipore's primary customer - may be
on the up.
Dutch biotechnology company Crucell has appointed a new chief
execvutive as it continues its transition from a company
specialising in enabling technologies to one focuused on product
development.
Israel-headquartered generics company Teva Pharmaceutical
Industries has completed its $3.4 billion takeover of US company
SICOR, which makes generics and active pharmaceutical ingredients.
Healthcare giant Cardinal Health reported revenues up 11 per cent
to $14.1 billion (€11.2bn) in the fourth-quarter of 2003, as a
strong performance in its pharmaceutical manufacturing services,
pharmacy automation and medical product...
Japanese pharmaceutical companies must build strong, in-house,
R&D capabilities in order to survive, according to research
from market analyst firm Datamonitor. But this is not simply a
matter of spending more money; strategic...
French pharmaceutical company Sanofi-Synthelabo has launched a
hostile takeover bid for its larger rival Aventis, in a move which
would create a top three drug major.
Switzerland's Bachem saw its 2003 sales slip by 3 per cent as
continued slack demand for research chemicals held back a modest
increase in its active pharmaceutical ingredients business.
If 2003 was marked by consolidation in the biotechnology industry,
then in 2004 the spotlight seems to have tracked firmly back to
pharmaceuticals - and particularly the European majors.
Irish pharmaceutical group Elan has raised around $70 million
(€55m) from four new deals, including the sale of formulation and
manufacturing interests.
General Electric's €8.1 billion acquisition of the UK's Amersham
was approved by the European Union yesterday, after it concluded
that the deal would not create a monopoly in Europe's medical
imaging market.
UK-headquartered NextGen Sciences has formed an alliance with
Germany's Protagen aimed at developing 'biochips' that can contain
thousands of functional proteins for use in drug discovery.
Israel's Teva has moved a step closer to consolidating its position
as the world's biggest generics manufacturer with the $3.4 billion
(€2.7bn) acquisition of US-based SICOR, which makes active
pharmaceutical ingredients...
A hoped-for recovery in the second half of 2003 failed to
materialise at Lonza, causing the chemicals and custom
manufacturing firm to post steep declines in sales and profits for
the full-year.
Denmark's Novo Nordisk is to invest €218 million in a plant to
manufacture insulin in Chartres, France, one of the group's largest
investments outside its home market.
DFB Pharmaceuticals has appointed Magnus Precht as the new
president at Phyton, a company specialising in plant cell
fermentation for the production of pharmaceutical which it acquired
last year.
A US-based private equity firm is the latest to join the list of
bidders for Dynamit Nobel, the chemicals business being sold by
German chemicals and engineering group MG Technologies.
The US market for chiral technologies - used to make single isomers
of compounds - will grow by an estimated 8.8 per cent a year to
reach a value of $1.8 billion (€1.4bn) in 2008, according to
soon-to-be-released market research.