Archive: August, 2012
The Philadelphia suburbs have numerous pharmaceutical businesses, big and small, and West Chester University is trying to tap into that knowledge for its academic programs - and jobs for students.
The school's 12-year-old pharmaceutical product development program will feature Exton-based ViroPharma, Inc., for an entire semester of seminars, starting Aug. 28.
The weekly series is called “Navigating Rare Disease: From Patient Needs to Solutions,” and is scheduled to have lectures by various ViroPharma staff members, including chief executive officer Vincent Milano. A scientist and a patient are also part of the lineup.
Led by billionaire and financial icon Warren Buffett, Berkshire Hathaway said in a filing with the Securities and Exchange Commission Tuesday that it sold almost two thirds of its stock in health-care giant Johnson & Johnson during the second quarter, which ended June 30.
The sales cut Berkshire's J&J holdings from just over 29 million shares to 10.3 million.
J&J and several divisions have struggled to deal with manufacturing problems and allegations of illegal marketing.
Shire chief executive officer Angus Russell said his company is in the final stages of negotiating with developers, states and municipalities over where to move its North American headquarters, which is currently in Chesterbrook.
A link to Tuesday's Inquirer story is here.
The local real estate discussion was part of an recent interview with Russell in one of the four buildings that Shire has outgrown. Russell said he is looking for a campus setting with room to grow.
Drugmaker Pfizer Inc. said Monday morning that its planned animal health subsidiary Zoetis, Inc. - which the company says is pronounced zō-EH-tis - filed a registration statement with the U.S. Securities and Exchange Commission for a potential initial public offering of Class A common stock.
Pfizer has been trying to sell the pieces of its business that it deems outside the core human pharmaceutical area, which includes infant nutrition and animal health.
In April, it agreed to sell the infant nutrition business to Nestle for $11.85 billion.
Two professors, including one from the Philadelphia area, wrote this week in the British Medical Journal that cries from the pharmaceutical industry over an "innovation crisis" borne of government intervention is a myth.
The real innovation crisis, say Donald Light and Joel Lexchin, stems from current incentives that reward companies for developing large numbers of new drugs with few clinical advantages over existing medicine.
A link to the paper is here.
Area pharmaceutical companies BioClinica and Novo Nordisk both said this week they are growing in what they do best.
BioClinica, which is based in Newtown, Bucks County, is a contract research organization (CRO) which means it administers clinical trials all over the globe for drug companies.
BioClinica said revenues increased from $16.9 million to $19.1 million (an increase of 12.8 percent) as compared with the same period in 2011. Using GAAP formula, BioClinica said its profit rose from $924,000 to $1 million for the same period.
Bristol-Myers Squibb said Wednesday it had completed its tender offer for Amylin Pharmaceuticals, Inc., which is expected to amount to a $7 billion acquisition.
Amylin becomes a subsidiary of BMS, which is based in Princeton.
After the deal closes, the next step in the two pronged deal is for AstraZeneca to spend $3.4 billion to join the Amylin subsidiary in developing and selling Amylin's diabetes drugs.