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Mallinckrodt Agrees to Acquire CNS Therapeutics; Sanofi Outlines R&D Restructuring; and More.
Mallinckrodt, the pharmaceutical subsidiary of Covidien, today has agreed to acquire CNS Therapeutics, a specialty pharmaceutical company focused on developing and commercializing products for site-specific administration to the central nervous system to treat neurological disorders and intractable chronic pain. Mallinckrodt will acquire all of the outstanding capital stock of CNS Therapeutics for approximately $100 million. The transaction, subject to customary closing conditions, is expected to be completed during the fourth quarter of 2012. Read More
Novo Nordisk is investing $100 million to expand its R&D facilities in Beijing, China. The company estimates that the new 12,000-m2 (129,167 ft2) center will make it possible to increase the number of science employees from the current 130 to 200, with extra space available to accommodate additional future growth. Read More
Sanofi has provided information on the adaptation of its upcoming R&D restructuring activities in France through 2015 before beginning information and consultation procedures in October. This project would be a continuation of the three objectives presented on July 5, 2012. The company plans to reorganize research activities over the next three years at its sites in France. The adaptations could result in the reduction of 900 positions in France by 2015. The company also plans to re-evaluate the economic performance of Sanofi Pasteur’s industrial units in accordance with competition in vaccine markets and streamline support functions to respond to the company’s diversification and address needs with regard to efficiency. Read More
A roundup of additional company and people news from pharmaceutical and biopharmaceutical companies, their suppliers, and contract-service providers. Read More