Week of August 29, 2011: Valeant Agrees to Acquire Afexa Life Sciences; Merck KGaA Names Robert Yates President of Millipore Division; and More - Pharmaceutical Technology

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Week of August 29, 2011: Valeant Agrees to Acquire Afexa Life Sciences; Merck KGaA Names Robert Yates President of Millipore Division; and More

ePT--the Electronic Newsletter of Pharmaceutical Technology

Company Notes

Bend Research, a CDMO, and the CRO Xcelience have formed a collaboration to provide oral solid-solubilization formulation solutions and expedited clinical-supply manufacturing in combined programs.

EMD Millipore, the life-sciences division of Merck KGaA, has acquired the CDMO Amnis. The transaction is subject to regulatory approvals and closing is expected to occur in the fourth quarter of 2011. The terms of the transaction were not disclosed.

The biopharmaceutcial company Icagen sent a letter to shareholders on Aug. 29, 2011, reaffirming the board of directors’ unanimous recommendation to accept the $6-per-share bid from Pfizer. The board received a letter from Pfizer on Aug. 26, 2011, that their proposal of $6 per share was their best and final offer, and that the offer was scheduled to expire at the end of Aug. 31, 2011.

Novo Nordisk has announced plans to build a new corporate center in Bagsværd, Denmark. The EUR 134-million ($193.4 million) project will feature two office buildings and house 1100 administrative employees. Groundbreaking will begin in October 2011, and completion is scheduled for the end of 2013.

Virginia Governor Bob McDonnell announced that Pfizer is selling its Henrico County, Virginia, manufacturing plant to the CMO Fareva, according to reports from various news sources. Fareva plans to invest $42 million into the facility, according to the reports.

Valeant Pharmaceuticals International, a specialty pharmaceutical company, has agreed to acquire the health-sciences company Afexa Life Sciences for approximately CAN 76 million ($77.6 million). Under the agreement, Afexa’s shareholders will receive CAN 0.71 per share in cash, and the company’s board of directors unanimously approved the offer. The deal is subject to customary closing conditions and regulatory approval.

People Notes

The American Association of Pharmaceutical Scientists (AAPS) has elected Dr. Anthony J. DeStefano, vice-president of General Chapters at the US Pharmacopeia, as the organization’s new president-elect. DeStefano will begin his three-year term in October at the 2011 AAPS Annual Meeting and Exposition in Washington, D.C.

Merck KGaA has named Robert Yates president of its Merck Millipore division, effective Sept. 1, 2011. He will report to Bernd Reckmann of Merck’s executive board, and will be responsible for the chemicals business sector, which includes the Merck Millipore and performance materials divisions.


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