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Week of Feb. 21, 2011: Company and People Notes: Gilead to Acquire Calistoga; Bayer Healthcare Appoints Former Pfizer Exec; and More.
Forest Laboratories agreed to acquire Clinical Data, a specialty pharmaceutical company, for $1.2 billion. The transaction reflects a price of $30 per share in cash plus contingent consideration of up to $6 per share that may be paid upon achievement of certain commercial milestones related to its depression treatment Viibryd (vilazodone hydrochloride). Forest will finance the transaction with existing cash. The transaction was approved by the boards of both companies and is expected to be completed in the second quarter of 2011, subject to customary closing conditions.
Gilead Sciences, a biotechnology company, agreed to acquire the biotechnology company Calistoga for $375 million. Calistoga could earn up to an additional $225 million in milestone payments. Gilead anticipates that the deal will close in the second quarter of 2011, subject to the satisfaction of certain closing conditions.
Johnson & Johnson has completed its tender offer for Crucell, the biopharmaceutical company, and has declared the offer unconditional. As a result, Crucell will now operate as the center for vaccines within the Johnson & Johnson pharmaceuticals group. The companies reported that the share acceptance level is 95.24% of the issued and outstanding share capital of Crucell, and expect that the settlement of the offer will take place on Feb. 25, 2011.
Japanese pharmaceutical company Kyowa Hakko Kirin agreed to buy the UK-based specialty pharmaceutical company ProStrakan Group for £292 million ($472 million) in cash. The deal was approved by the ProStrakan board. A company press announcement said that the transaction would provide Kyowa with an established European and US marketing and sales platform, together with a portfolio of proprietary products.
In a 6–2 decision, the US Supreme Court affirmed the ruling of the US Court of Appeals for the Third Circuit in favor of Pfizer’s subsidiary Wyeth, in Bruesewitz v. Wyeth. The Third Circuit determined that the National Childhood Vaccine Injury Act prevents civil suits against manufacturers of FDA-approved childhood vaccines based on a claim that a particular vaccine should have been designed differently.
Upsher-Smith Laboratories is voluntarily expanding its previously announced recall of Jantoven (warfarin sodium), USP, 3 mg tablets to include additional products that were packaged on the same packaging line between May 17, 2010, and Nov. 17, 2010. The company is initiating the recall as a precautionary measure after a single bottle labeled as Jantoven (warfarin sodium), USP, 3 mg tablets was found by a retail pharmacy to contain tablets at a higher, 10 mg strength. For more information about the recall, see the company’s Q&A web page.
Bayer HealthCare appointed Erica L. Mann as the new president of its consumer-care division and as a member of the Bayer HealthCare executive committee, effective Mar. 14, 2011. Mann most recently served as president and general manager of Pfizer Nutritional Health and was a member of the Pfizer senior-management team.
Paul A. Grayson, who has been president and CEO of the biotechnology company Fate Therapeutics since April 2008, is leaving to form a new company.
Gelest, a provider of silicone-based products, promoted Edward Kimble to product manager of silicones, and appointed Barbara Tsuie product manager of silanes and metal-organics. Both employees will report to Joel Zazyczny, vice-president of silanes, silicones and metal-organics. In its research and development (R&D) and technical-services areas, the company appointed Janis Matisons senior technical manager, reporting to Jerry Larson, vice-president of R&D. In addition, Jonathan Goff was appointed manager of Silicones R&D, and Yun Mi Kim was appointed technical service manager.
Hemispherx Biopharma, a specialty pharmaceutical company, appointed Ronald Ritz as senior director of manufacturing. Ritz previously served as senior director of technical operations at Enzon Pharmaceuticals.
Neogenix Oncology, a biotechnology company, appointed Albine Martin as COO. Martin was previously a partner at Adjuvant Global Advisors, a commercial strategy and business-development consulting firm, and a consultant to Neogenix for the past six months.
Savient Pharmaceuticals made three executive appointments in conjunction with the commercial launch of Krystexxa (pegloticase). Louis Ferrari was appointed senior vice-president of North America commercial, Christine Mikail was appointed senior vice-president of corporate development, and Stephen Davies was appointed chief information officer and group vice-president. All three will report to Savient CEO John H. Johnson.
Selcia, a provider of contract research services, appointed Simon Saxby as its CEO. He will assume his position in April 2011 and replace Hans Fliri, who will retain his role as chairman of the board. Selcia also appointed Andreas Rummelt as a nonexecutive director.