The best thing you can say about Angiotech Pharmaceutical Inc.’s (NSDQ:ANPI) fourth quarter is that it’s over.
Sluggish stent sales at Boston Scientific continue to afflict Angiotech
Pharmaceutical
Quintiles inks drug manufacturing deal with Samsung
Quintiles is partnering with Samsung Group on a $266 million initiative to bring the South Korean conglomerate into the drug manufacturing business.
Durham, N.C.-based Quintiles provides an array of services for pharmaceutical companes and is the largest contract research organization in the industry. Quintiles spokesman Phil Bridges said that the company’s involvement with Samsung is a $30 million stake in the effort.
Feds grab $17 million worth of ear infection drug from N.C. company
Federal marshals seized $16.5 million worth of drugs from Chapel Hill, N.C.-based Deston Therapeutics that the Food & Drug Administration says the firm was selling without its approval.
U.S. Marshals seized all lots of Auralgan Otic Solution from a Deston warehouse in Brooks, Ky., Feb. 16. Auralgan is a prescription drug used to treat pain and inflammation associated with ear infections.
Aerogen and Dance Pharma to co-develop insulin inhaler
Aerogen Ltd. and Dance Pharmaceuticals signed a deal to develop an insulin inhalation device for diabetics.
The companies’ planned product would allow millions of diabetics to avoid sticking themselves with needles several times a day to treat the disease with insulin injections.
Osteologix exits stock market, U.S.
Osteologix Inc. (OTC:OLGX) decided to pull up stakes in the U.S. and remove its stock from public trading.
In an effort to cut costs, the company plans to deregister its stock on the NASDAQ exchange and close its U.S. office in Glen Allen, Va., in order to consolidate into its Dublin, Ireland-based subsidiary Osteologix Holdings Ltd.
FDA wants home runs from drug combinations
Could the next “blockbuster” drug be a combination of existing therapies? The Food & Drug Administration seems to think so.
The federal watchdog agency issued draft guidelines yesterday intended to encourage pharmaceutical companies to develop therapies from drug combinations.
The agency feels that despite the increased risk involved in combining pharmaceutical treatments, there are benefits to treating serious diseases such as cancer.
Clinical Data sheds last assets of genetics and testing business
Clinical Data Inc. (NSDQ:CLDA) offloaded its its Familion testing and pharmacogenomics biomarker assetts to molecular diagnostics developer Transgenomic Inc. (OTC:TBIO) for $15.4 million, primarily in cash and notes.
The assets represent the last unit of Newton, Mass.-based Clinical Data’s non-pharmaceutical business.
Vermont health data sharing restrictions ruled unconstitutional
Pharmaceutical companies landed a big win in Vermont yesterday, after a three-judge panel for the U.S. Court of Appeals for the 2nd Circuit ruled that a Vermont law restricting the mining drug prescription data violates the First Amendment.
Three companies that mine information on the prescription patterns of physicians and sell the data to pharmaceutical companies sued the Green Mountain State over the law, which bans the use of prescriber-identifiable data for drug marketing unless the prescribing caregiver consents.
Imaging software developer Orasi Medical drums up $1.8 million
University of Minnesota-spinoff Orasi Medical Inc. raised $1.8 million from the sale of equity, according to a Securities & Exchange Commission filing.
Overall, the software startup hopes to raise $2.6 million by December.
CEO Shawn Lyndon declined to comment, citing SEC rules that prohibit public comments on fundraising activities.
The company, which generates less than $1 million a year in revenue, is developing software designed to help pharmaceuticals makers speed the development of drugs targeting neurological diseases, like Alzheimer’s.
Neoprobe taps pharma vet Pykett as development chief
Neoprobe Corp. (OTC:NEOP) hired a biotechnology and pharmaceuticals industry veteran as its chief development officer.
Mark Pykett, 46, is stepping into the role, which calls for him to assist the company with its product and business development, partnering and investor relations efforts, according to a press release from the Dublin, Ohio-based firm.
Personnel moves: Covidien pharma president Wright bows out
- Covidien pharma president Wright bows out
Timothy Wright resigned as Covidien plc’s (NYSE:COV) senior vice president and president of its pharmaceuticals segment, effective Dec. 2, according to a Securities & Exchange Commission filing. Pharma CFO Matthew Harbaugh will serve as interim president of the segment until Wright’s successor is found, according to the filing.
