Less than a year after a reorganization put him in charge of Charles River Laboratories International Inc.’s (NYSE:CRL) global preclinical services in North American and China, senior vice president Christopher Perkin is planning to leave the company to become CEO of Montreal-based Algorithme Pharma Holdings Inc.
Research & Development
When surgeons in Spain successfully replaced a young woman’s trachea in 2008, using a tissue-engineered windpipe researchers had grown out of her own stem cells, the world took notice.
David Green, the president of Harvard Bioscience Inc. (NSDQ:HBIO), a Holliston, Mass.-based lab instruments maker, also noticed. Green picked up the phone to call Italy shortly after the news hit the wires; this week the company launched a commercial version of the bioreactor researchers used to grow the bronchus, the ORGANIZER Series Model 100 “In Breath” bioreactor.
The company will use the funding to prepare for a Phase 1 human clinical trial, no doubt hoping that recent publicity surrounding vaccines for the H1N1 influenza virus will help it draw the attention of additional investors.
Parexel International Corp. (NSDQ:PRXL) opened up a new facility for early-phase studies in patients in South Africa, adding to its presence in that country and increasing its capacity worldwide.
The Waltham, Mass.-based contract research organization’s early-phase studies business provides a range of clinical testing studies for medical devices and drug compounds from first-in-man through proof-of-concept studies. Parexel has more than 580 beds in four countries in North America, the United Kingdom, Germany and South Africa. The new 40-bed facility in Port Elizabeth, South Africa, is the third facility in that country, according to a
BioClinica Inc. (NSDQ:BIOC) posted fourth-quarter sales of $20.2 million for the three months ended Dec. 31, 2009, up 14.3 percent compared with $17.7 million during the same period in 2008. Net income reached $943,000, compared with a net loss of $171,000 during Q4 2008:
BioClinica Announces Fourth Quarter and Year End 2009 Financial
SeraCare Life Sciences Inc. (NSDQ:SRLS) posted strong first-quarter sales and earnings results, swinging back into the black after posting quarterly losses last year.
The Milford, Mass.-based life sciences service provider posted sales of $11.3 million for the three months ended Dec. 31, 2009, up 21.4 percent compared with $9.3 million during the same period in fiscal 2009. SeraCare reported net income of $1.3 million, or 7 cents per share, for the quarter, compared with net losses of $16.9 million, or 91 cents per share, during Q1 2009.
PPD Inc. (NSDQ:PPDI) posted fourth-quarter sales of $357.4 million for the three months ended Dec. 31, 2009, down 1.6 percent compared with $363.1 million during the same period last year. Net income fell 59.8 percent to $19 million, compared with $47.2 million during Q4 2008:
PPD Reports Fourth Quarter and Full Year 2009 Financial Results
Less than a month after it announcing layoffs for 300 workers in Massachusetts, Charles River Laboratories International Inc. (NYSE:CRL) swung to a profit during 2009.
But it’s unlikely that anyone at the Wilmington, Mass.-based contract research organization, which announced in January that it will suspend operations at its preclinical services unit in Shrewsbury, was celebrating the return to black ink.
In the fourth quarter of 2008, the company took a massive, non-cash goodwill impairment charge of $700 million, which led it to report a a $525 million loss for the year. Absent the write-down, the 2009 results looked rosier, but only on the surface.
Restructuring costs cut deeply into second-quarter profits at Parexel International Corp. (NSDQ:PRXL) during the three months ended Dec. 31, with severance and related expenses costing the clinical research organization $14.3 million during the quarter.
The Waltham, Mass.-based clinical research organization recorded net income of $3.5 million, or 6 cents per share, on $284.7 million in revenues during its fiscal second period. That compares with a $5.2 million profit, or 9 cents per share, and $275.8 million in revenues during the year-ago quarter. In addition to severance payments, the bottom line was affected negatively by a client default, lease penalties associated with facility closings and a $6.1 investment impairment charge.
Pressure BioSciences Inc. (NASQ:PBIO) has five new patents to protect its intellectual property following recent actions by U.S. and foreign regulatory bodies.
The U.S. Patent and Trademark Office issued Easton, Mass.-based PBIO a patent for its pressure-enhanced extraction and purification technology, complementing the company’s three previously issued patents for pressure-cycling inventions. Regulators in Japan and Canada each issued a new patent to PBIO recently, while IP Australia issued two patents.
The new rulings increase the company‘s patent total to 24 — 14 in the U.S. and three each in Europe and Australia and two apiece in Japan and Canada.
Charles River Laboratories International Inc. (NYSE:CRL) suspended operations at its preclinical services unit in Shrewsbury, a move that will result in about 300 layoffs.
About 30 of the 300 employees will be kept on to maintain the facility or be reassigned to other positions within the company, according to a spokeswoman for the Wilmington, Mass.-based contract research organization. Operations will resume at the facility when “global preclinical market conditions improve and the Company requires additional capacity,” according to a press release.
The preclinical unit provides the services required to take a drug through the development process, including discovery support, toxicology, pathology, as well as Phase I clinical trials, according to the company.