OR WAIT 15 SECS
Abbott Labs, Cambrex, Cardinal Health, Charles Ross and Son Co., Janssen, West Pharmaceutical Services
Abbott(Abbott Park, IL, www.abbott.com)and AstraZeneca (Westborough,MA, www.astrazeneca-us.com)will codevelop and market a single-pill combination treatment for threeblood lipids: LDL-cholesterol, HDL-cholesterol, and triglycerides.Under the agreement, thecompanies will create a fixed-dose combination of "Crestor"(rosuvastatin calcium) and "TriCor" (fenofibrate tablets) and aCrestor?ABT-335 combination. ABT-335 is Abbott's proprietarynext-generation fenofibrate currently in Phase III clinical trials. Thecompanies will conduct studies before selecting one of the combinationsfor development and commercialization. The companies hope to submit aregulatory application for the new combination therapy in 2009.
AradigmCorporation (Hayward, CA, www.aradigm.com) received $27.5 million from Novo Nordisk (Bagsværd,Denmark, www.novonordisk.com)for inhaled insulin product patents. The agreement encompasses anintellectual property assignment, a royalty prepayment, and aneight-year promissory note. Aradigm received $12 million upontransferring to Novo Nordisk the ownership of several patents forinhaled insulin. The company received an additional $8 million inexchange for a 1% reduction of its average royalty rate. Novo Nordiskalso paid Aradigm $7.5 million in a 5%, eight-year note payable inthree equal installments to begin in six years.
Cambrex BioScience Baltimore (Baltimore, MD, www.cambrex.com) andCambrex Bio Science Walkersville(Walkersville, MD) completed the production and packaging of CuraGen Corporation's (Branford, CT,www.curagen.com)"CR011-vcMMAE," an investigational drug product for the treatment ofmetastatic melanoma currently in a Phase I clinical study. CR011-vcMMAEis an antibody-drug conjugate composed of CR011, a fully humanmonoclonal antibody, and monomethyl-auristatin E (MMAE), a cell-killingdrug. Cambrex scaled up the bulk antibody production process and theprocess for linking the antibody to MMAE.
The formerpharmaceuticalfinechemicals business of
)following the sale of the business to Tower Brook Capital Partners LP.The new business is comprised of virtually all assets and personnelthat previously had supported commercial activities for the manufactureof high-tech building blocks, regulatory starting materials, CGMPintermediates, and active pharmaceutical ingredients for thepharmaceutical industry. Archimica will be headquartered in Frankfurt,Germany with manufacturing and technology developmentsites in the United States, the United Kingdom, Germany, France, andItaly.Archimica begins operations with sales in excess of $250 million andmore than800 employees worldwide.
Croda International (Yorkshire, UK, www.croda.com) willacquire Uniqema, a division ofImperial Chemical Industries(London, UK, www.ici.com)for £410 million (approximately $754 million) on a cash anddebt-free basis. Croda will pay ICI £370 million (roughly $680million) in cash and will assume £40 million (approximately $74million) of unfunded postretirement benefit liabilities upon completionof the transaction. The agreement includes adjustments for workingcapital and for postretirement benefit liabilities, which will befunded by ICI. The acquisition is subject to regulatory sanction andthe approval of Croda shareholders, which will be sought at a meetingto be held in August. Uniqema is a global manufacturer and supplier ofbase oleochemicals and specialities used as additives in variousconsumer-care markets. The company posted sales of £626 million(approximately $1.2 billion) in 2005.
JanssenPharmaceutica N.V. (Titusville, NJ, www.janssen.com), a Johnson& Johnson company, and Vertex PharmaceuticalsInc. (Cambridge, MA, www.vrtx.com)will jointly develop and commercialize Vertex's investigationalhepatitis C virus (HCV) protease inhibitor, VX-950. Under theagreement, Janssen will have exclusive rights in Europe, South America,the Middle East, Africa and Australia. Vertex will retain exclusivecommercial rights to VX-950 in North America.
Cardinal Health (Dublin,OH, www.cardinal.com)announced yesterday that R.G.G.(Rudy) Mareel joinedthe company as president of its international division. Mareel willreport to President and Chief Executive Officer R. Kerry Clark and willdirect the company's international strategy. Mareel also will assumethe responsibilities of John Parker,president of Cardinal Health Europe, who announced plans to retireearlier this year. Mareel recently worked as president of the clinicalnutrition division of Royal Numico and was a member of that company'sexecutive board. Mareel also held various global positions at BectonDickinson, including worldwide vice-president. In addition, David L. Schlotterbeck, has assumedadditional responsibility for Cardinal Health's PharmaceuticalTechnologies and Services (PTS) and Medical Products Manufacturing(MPM) segments, in addition to his current responsibility for theClinical Technologies and Services (CTS) segment. As chiefexecutive officer of Pharmaceutical and Medical Products, Schlotterbeckwill lead an organization of approximately 23,000 employees and $6billion in revenues.
Ken Langhornwas promoted to technical director of CharlesRoss and Son Co. (Hauppauge,NY, www.mixers.com).Langhorn joined the company in 1998 and has worked in several technicaland product management positions. He will be responsible for the dailyoperations of the company's test and development center as well as theongoing development of new products and technology.
DOVPharmaceutical (Somerset, NJ, www.dovpharm.com) announced that the company hasreorganized its senior management team. Leslie Hudsonresigned from his positions as chief executive officer, president, andmember of DOV's board of directors. Current Chief Financial Officer Barbara Duncan assumed thetitles of president and member of the DOV board of directors. ChiefScientific Officer Phil Skolnickwas named executive vice-president and CSO. Arnold Lippa, erstwhile chairman ofthe board of directors, has become executive chairman. Warren Stern and Scott Myerswill continue in their roles as senior vice-president of drugdevelopment and senior vice-president of commercialization andstrategic marketing, respectively.
Midwest BioResearch, LLC (Evanston, IL, www.midwestbioresearch.com), a provider of outsourced drugdisposition and toxicology services,appointed Peggy Tsatsos manager of the company's analyticaloperations group.Tsatsos was previously a senior scientist at Abbott Laboratories wheresheled research programs in analyzing and characterizing immunosuppressivedrugs,microparticles, and prostate and breast cancer product lines.
Jonathan R. Spicehandler, MD, formerchairman of Schering-PloughResearch Institute (SPRI), has retired from Schering-PloughCorporation (Kenilworth, NJ, www.schering-plough.com).Spicehandler joined Schering-Plough in 1982 as senior director ofimmunology before being appointed vice-president of clinical research,vice-president of biological research, and vice-president ofoperations. He also served aspresident of SPRI in 1993. In 2002, he was named SPRI chairman, servingasa scientific advisor to the Schering-Plough Operating Committee as wellasto senior management.
WestPharmaceutical Services (Lionville, PA, www.westpharma.com)announced the retirement of Tenley E.Albright from its board of directors. Albright had been adirector of West since 1993 and retired in adherence to the company'sretirement policy. West?s board now will be reduced from eleven membersto ten.