Higher than normal cancellations for Covance’s clinical business have persisted now for a couple of quarters, though that downturn has since normalized and CEO Joe Herring believes the company was just in a short-lived rut.
Big Pharma is still reliant on CMOs despite talk of returning in-house, says AMRI, which has launched into the top ten manufacturers in the US injectables sector following its recent acquisition.
The season of quarterly reports is in full swing, with CRO Covance seeing its income and revenue rise in Q2 compared with the same quarter last year due to stronger-than expected early phase development and central labs work.
China-based Wuxi announced 11% growth in its net revenues when compared to last year, which was boosted by manufacturing services the most of all service offerings.
For the first time ever, Charles River Laboratories is seeing its biotech revenues eclipse its pharma revenues, Jim Foster, chairman, president and CEO of CRL, told participants at the Baird Growth Stock Conference last week.
WuXi PharmaTech has announced its manufacturing business, Syn-The-All (STA) Pharmaceuticals Co., Ltd., has broken ground on an R&D and manufacturing site in China.
Quintiles and Covance have re-iterated previous CROs’ upbeat stances on the prospect for further pharma M&A as they both reported revenue growth for the quarter.
Recipharm has given investors a sneak peak at its finances ahead of its IPO next month that establishes the firm as a mid-tier CMO with plans to grow through acquisitions.
Aesica has predicted that CMO sector consolidation will continue and hinted that it is considering strategic acquisitions as a part of a bid to generate $1bn revenue.
WuXi PharmaTech has revealed that demand for its manufacturing services increased significantly last year and forecast that its "open access" approach will help it sustain growth into 2014.
Columbia Laboratories has reported strong annual results despite a fourth quarter affected by Actavis taking the manufacture of vaginal gel Crinone in-house and the “lumpiness” of Merck Serono.
The higher demand for preclinical toxicity testing reported by public CROs last year may also be being seen by private firms if recent investments are any indication.
Third quarter growth in preclinical services was due to gain in market share and demand from Big Pharma, Charler River Laboratories (CRL) says as it reports solid Q3 earnings.
CRO Parexel’s stock fell to a four-month low and continued to hover around that level late last week following concerns about low bookings and increased competition in the first quarter of 2014.
Quintiles issued a mixed set of revised financial predictions for 2013, increasing its earnings per share forecast after a surge of new business wins and narrowing its service revenue.
Covance produced solid Q3 results as expected by analysts though whether the CRO can fire both early and late stage development cylinders at once remains a question.
Despite a strong Q3, Icon has outlined plans for further cuts at its UK clinical pharmacology unit (CPU) as it rejigs its ‘weak’ early phase services business.
Lab service provider LabCorp said Friday its third quarter net income was nearly the same as the identical quarter in 2012 because one-time restructuring and other costs offset a slight increase in revenue.
CRO Parexel’s revenue, net income and earnings per share grew substantially in Q4 when compared to the same quarter last year and the company expects similar growth in the next fiscal year.
Ireland-based commercialization services firm United Drug has announced plans to buy Spanish contract pharmaceutical sales group Expansis for €12m ($15m).
Covance reported 10% revenue growth between the second quarter of this year and the same quarter last year, mostly due to central laboratories and late-stage development growth.
Canadian CMO Patheon’s second quarter revenues increased almost 40 percent as the company’s commercial manufacturing services revenues saw a similarly high rise over the same period from last year.
Extra filling capacity is to be made available in preparation for West’s Crystal Zenith (CZ) system, though approval and increased sales are still at least 18 months away.
Brand-to-generic conversions have been blamed for “somewhat softer than expected” financial results at McKesson, though significant FY2014 direct revenue growth has been predicted.
With a more than 27 percent increase in revenue for Q3 of FY 2013 over the same quarter last year, CRO Parexel has raised its guidance for both the fiscal and calendar year.
In a quarter that has seen the company divest its contract packaging and Canadian drug distribution arms, AmerisourceBergen’s Q2 results have been deemed “less than special” by analysts.
CRO WuXi PharmaTech has announced 22% net revenue growth in 2012 as its China-based lab services grew significantly. That trend is expected to continue with double-digit growth in 2013.
Parexel may have raised its forecast for fiscal 2013 after reporting a 26% hike in second quarter revenues this week, but analysts still have concerns about its spending.
Covance management sounded relatively upbeat about its expectations for 2013 as late-stage clinical trials continue to grow and IT spending begins to taper off, company officials said on Friday.
Higher demand for clinical services drove growth at Catalent in fiscal Q4, offsetting falling European demand for injectables and flat oral delivery technology sales.
Higher revenue from recombinant albumin hyaluronic acid helped Novozymes’ biopharmaceutical business in the first half of 2012, but the firm expects growth to slow in the second half of the year.
Chinese CRO Wuxi Pharmatech posted impressive revenue growth for Q2 driven by demand for lab services, but the firm still faced margin pressure due partly to rising labour costs.
Unilife has been granted a US patent for its prefilled syringe technology just weeks after announcing a supply contract with an unnamed autoimmune disease-focused pharma.
