API maker Hovione’s manufacturing facility in Cork, Ireland was unveiled at an opening ceremony yesterday just two weeks after the previous owner, global drug giant Pfizer, formally handed over the keys.
Biopharmaceuticals firm Shire will cease manufacture at its plant in Owings Mills, Maryland, US with the loss of 260 jobs in the latest stage of its plan to wind up the in-house production of small molecule drugs.
The pharmaceutical rumour mill is still spinning with the latest speculation that UK drug major GSK is interested in Botox manufacturer Allergan causing the US firm’s share price to leap 13 per cent on the New York Stock Exchange.
The global economic downturn, impending blockbuster patent expiries and the wave of consolidation sweeping the pharmaceutical industry will drive demand for Patheon’s restructuring service according to CEO Wesley Wheeler.
The year of the mega-merger continues with Merck & Co’s move to buy Schering-Plough for $41.1bn, with the intention of boosting its pipeline, entering new markets and creating a “powerful biologics presence”.
Two approvals in a week for drugs made at Ranbaxy’s New Jersey OHM Laboratories subsidiary have eased the generics firm’s North American regulatory woes and strengthened its position in the expanding US market.