All News


Princeton, NJ (Nov. 30)-Rockwood Holdings, Inc. agreed to sell its Group Novasep subsidiary for EUR 425 million ($567 million) to a consortium of buyers consisting of Glide Buyout Partners BV, Banexi Capital, and Group Novasep management.

Whitehouse Station, NJ, (Dec. 6)-Merck & Co., Inc. expects the initial phase of its cost-reduction program, first announced in 2005, to yield cumulative pretax savings of $4.5?5.0 billion from 2006 through 2010, with roughly $2 billion of that coming from implementing its manufacturing supply strategy.

Dublin, OH (Nov. 30)-Cardinal Health has announced plans to divest its Pharmaceutical Technologies and Services (PTS) segment, "a business that manufactures or packages 100 billion doses of medication every year for pharmaceutical and biotech firms, employs approximately 10,000 at more than 30 facilities worldwide and generates $1.8 billion in revenue," according to a company statement.

Washington, DC (Dec. 7)-One of the last acts of outgoing Senate majority leader Bill Frist (R-Tenn) was to push through confirmation of Andrew von Eschenbach as the official head of the Food and Drug Administration.

i1-390978-1408681456573.jpg

Funding Ripple Effects

Poor support of drug- and process-development training programs will affect industry's future growth.

i1-390977-1408681458220.jpg

Repaving K Street

Years of concentrating its political support on one side of the political spectrum may have eroded the industry's ties to the new majority.

London (Nov. 22)-The European Medicines Agency reports a defect in some vials of Herceptin (trastuzumab), the anticancer treatment by Roche, which have been distributed in Europe. As a result, The EMEA's Committee for Medicinal Products for Human Use outlined a plan, formulated in conjunction with Roche, for the visually reinspecting and replacing defective vials.

Washington, DC (Nov. 20)-The US Department of Health and Human Services awarded contracts totaling $199.45 million to Sanofi Pasteur, Novartis, and GlaxoSmithKline PLC to manufacture 5.3 million 90-?g doses of influenza vaccine designed to protect against the H5N1 influenza virus strain.

South San Francisco, CA (Nov. 9)?Genentech, Inc. has agreed to acquire Tanox, Inc., for $20 per share, a total cash value of roughly $919 million. Tanox is a biotechnology company specializing in the discovery and development of biotherapeutics based on monoclonal antibody technology.