The tough operating climate facing contract research organisations (CROs) seems to have hit Canada’s MDS particularly hard, with a 13 per cent drop in fiscal first quarter revenues to $257m.
Cardiology and eClinical specialist eResearch Technology missed analysts estimates of sales and earnings in the fourth quarter of 2008, but still posted a near-14 per cent increase in operating profit.
Sales and marketing service specialist InVentiv Health slid to a loss in the fourth quarter of 2008, despite posting a 16 per cent hike in net revenues to $248m.
Nose-diving net income in Q4 brought PharmaNet’s torrid year to an end, with the CRO hoping what may be its last financial release as a public company marks the start of its revival.
Faced with a tougher operating environment, Irish drugmaker Elan has decided to slash staff numbers by 230 – or around 14 per cent of its total workforce – shelve the construction of a new biologics manufacturing facility and shutter fill-and-finish capacity...
Kendle International posted a 22 per cent drop in net income to $5m, after a computer error led to problems with a clinical trial carried out for one of its customers.
Contract research organisation Bio-Imaging Technologies posted a 48 per cent hike on revenues in the fourth quarter of 2008, but still made a small net loss on the back of its CapMed division, which was sold last month.
The world’s largest contract research organisation, Covance, has maintained its earnings guidance for 2009 despite a slowdown in revenue growth and lower profits in the fourth quarter of 2008.
Contract research company Parexel saw its share rocket more than 30 per cent yesterday after it reported a hike in its second quarter revenues and despite a fallback in net profits.
Cincinatti, US-based clinical research organization Kendle has cut back its revenue expectations for 2008, primarily as a result of the strengthening of the US dollar, in common with some of its peers in the CRO sector.
Clinical laboratory services company LabCorp saw its shares slide yesterday after cutting back its sales and earnings targets for 2009 in light of the economic downturn.
Clinical research specialist PharmaNet Development Group reported a decline in both sales and earnings for the third quarter but has kept its guidance for the financial year at the same level, albeit excluding an as-yet unresolved impairment charge.
Agilent recorded strong third quarter revenue growth for its Bio-Analytical segment, which was tempered by the stagnation of income from its Electronic Measurement division.
APP Pharmaceuticals, currently the sole supplier of therapeutic heparin vials to the US market, has received FDA approval to manufacture three new formulations of the blood-thinner at its plant in Barceloneta, Puerto Rico.
Bio-Rad has reported second-quarter revenue growth of 33 per cent due to its acquisition of laboratory diagnostics firm DiaMed and strong organic growth.
Veeco Instruments returned to profitability with the company’s ‘best quarterly performance in two years’ even though its metrology unit struggled due to weakness in the semiconductor market.
Bruker recorded a 31 per cent increase in revenue for the second quarter, marking a strong start after it acquired its affiliated Bruker BioSpin in February for $914m.
Bioprocessing specialist Sartorius Stedim Biotech’s (SSB) net profit for the first half of 2008 rose by 3.5 per cent in comparison with last year, although the company continues to face difficulties in North America.
Affymetrix slumped to an operating loss in the second quarter of 2008, reporting flat revenues and blaming a 30 per cent reduction in sales to the pharmaceutical sector.
Robert Friel’s tenure as CEO of PerkinElmer continued its strong start with the firm reporting a 21 per cent increase in second quarter revenues compared to the same period last year.
With fears of a global recession riding on the back of the credit crisis, many laboratory suppliers have managed to weather the storm and still achieve double digit sales growth in the second quarter of 2008.
Laboratory services and diagnostics company Medtox Scientific has posted a healthy hike in operating profits for the second quarter, despite a challenging operating environment that pegged back sales growth.
China's Wuxi PharmaTech saw revenues race away across its divisions
in the first quarter of 2008, benefitting from the continued shift
towards outsourcing of manufacturing and laboratory functions by
the pharmaceutical industry.
The decision to end manufacturing operations at its facility in
Morgan Hill, California in the next three years may cost
Hospira up to $35m (€22.7m), according to a document the firm filed
with the US Securities and Exchange Commission...
Invitrogen's first-quarter profits were nearly double those it
recorded in the first-quarter of 2007.The maker of kits used for
cloning enjoyed growth, driven by sharp increases in sales for drug
discovery and research.
Analytical equipment specialists Waters made a solid start to 2008,
posting a 12 per cent increase in first-quarter revenues buoyed on
by higher margin expansions and strong global sales that build on
previous quarterly performances.
A successful and strategically important year,' is how Sartorius
CEO Joachim Kreuzburg described 2007, a year highlighted
by merger of its biotechnology division with Stedim to boost its
presence in the burgeoning biopharmaceutical...
Life sciences systems maker Bruker Corp reported
stronger-than-expected fourth-quarter earnings and revenue results
on the back of the company's recent $1.1bn acquisition of
affiliated firm Bruker BioSpin.
Beckman Coulter saw its fourth quarter earnings held back by
the cost of acquiring NexGen Diagnostics, but the
underlying business was strong with a near-11 per cent hike in
revenues.
Scientific instrument and vacuum technology supplier Varian has
acquired the assets of US flash chromatography expert Analogix for
$11m (€7.6m) cash plus the assumption of its net debt.
PPD has posted positive financial results for the second quarter of
the year in net contrast to its lacklustre performance in Q1, but
cut its earning outlook for the full year.
One-off costs related to last year's acquisition of Serologicals
and a continuing manufacturing consolidation strategy were largely
responsible for sharp falls in Millipore's pre-tax and net profits
for the first quarter...
Invitrogen has decided to sell BioReliance, the 'beleaguered'
pharmaceutical services arm of its business, for less than half the
price they paid for it just three years ago.
Albany Molecular Research (AMRI) has slipped again in the fourth
quarter of 2006 recording an operating loss of $2.5m (€1.9m) - six
per cent worse than the same quarter the previous year - despite
encouraging revenue growth in its...
US-based biopharmaceutical product providers Millipore has met its
revenue and earnings target over the fiscal year, helped by its
Serologicals acquisition in the fourth quarter and a solid
performance by its main business driver:...
US-based sterilisation system providers Steris this week announced
their fiscal 2007 third quarter results, revealing the impact of
the relocation of manufacturing capacity to Mexico and the firm's
European restructuring.
Sartorius has reported 7.6 per cent increase in sales revenue in
2006 rising to €520.1m ($677.4m), due to the biotechnology
division's decision to focus on disposable systems.
In a turbulent year, Whatman has failed to meet its projected
revenue target by 1-3 per cent and changed its management but
resolved litigation that has been hanging over the firm since 2003.
Massachusetts-based Millipore has reported a fall in net profit in
its third quarter results, mainly due to increased costs and recent
acquisition charges.
Thermo Electron has continued to show strong growth in the third
quarter 2006 buoyed on by strong returns in its mass spectrometry
business and progress in its Triple Quad technology.
Fresh from Thermo's $10.4bn (€8.3bn) acquisition of the scientific
equipment and instrument specialists, Fisher Scientific posted
strong third quarter results that showed a profit rise of 62 per
cent coupled with an 11 per cent...
According to a new study the European cardiovascular drugs market
is expected to reach $36.3bn (€28.9bn) in 2012, buoyed on by new
drug areas, classes and combination products.
PPD managed a net revenue of $313.1m (€250m) for the third quarter
of 2006, an increase of 14.6 per cent over net revenue of $273.3m
for the third quarter of 2005. This has been buoyed on by the
strong performance by the company's...
Covalent Group has won several new clinical trial contracts to the
tune of $2.1m (€1.7m) and said it expects the windfall to help it
return to profitability for the second quarter.
PPD managed a 42 per cent jump in pre-tax profit to the tune of
$63.8m (€50.1m) in the first quarter, fuelled by a strong growth in
new clinical trials business and helped by a milestone payment in
the discovery sciences segment.
