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Pharma/fine chemicals roundup—8 January
7:25 AM MST | January 8, 2013 | By DEEPTI RAMESH
Questcor Pharmaceuticals acquires Canadian API firm BioVectra
Pharmaceutical ingredients manufacturer BioVectra (Charlottetown, PE) says that biopharmaceutical company Questcor Pharmaceuticals (Anaheim Hills, CA) has signed a definitive agreement to acquire all issued and outstanding shares of BioVectra for an upfront payment of C$50 million ($50.7 million). BioVectra is a supplier of contract manufacturing services to the global pharmaceutical and biotechnology industry, and manufactures active pharmaceutical ingredients (API), chemical intermediates, and bioprocessing reagents. BioVectra had sales of about $28 million in its fiscal year ended 31 August 2012, a 15% increase over the previous fiscal year. Subject to customary conditions, Questcor anticipates closing the acquisition this month.
Lonza to expand antibody drug conjugate manufacturing capacity in Switzerland
Lonza says it plans to invest 14 million Swiss francs ($15 million) to expand antibody drug conjugate (ADC) manufacturing capacity at the company’s site at Visp, Switzerland. Oncology therapeutics including ADCs represent one of the fastest growing segments of the pharma and biotech industry, and the deployment of ADC targeted therapies has intensified in recent years, Lonza says. The expansion of the ADC facility will double the existing large-scale manufacturing capacity at Visp while allowing current operations to continue without interruption, Lonza says. The capacity expansion, expected to be complete in the second quarter of 2014, has the potential to bring new job opportunities across all functions in Visp, the company says.
Bayer completes acquisition of Teva’s US animal health business
Bayer HealthCare says it has received the necessary regulatory approval from the FTC to complete the previously announced acquisition of the US-based animal health business of Teva Pharmaceutical Industries (Petaḥ Tiqwa, Israel). The acquisition includes a manufacturing site at St. Joseph, MO; and about 300 employees. Bayer had announced plans for the acquisition in September 2012. Bayer is paying up to $145 million for the acquisition, which includes an upfront payment of $60 million and a total of $85 million in milestone payments, which are linked to the successful and timely achievement of manufacturing and sales targets.
Abbott completes separation of research-based pharmaceuticals business
Abbott Laboratories (Chicago) says it has completed the previously announced separation of its research-based pharmaceuticals business, which became AbbVie, a new independent biopharmaceutical company. AbbVie has begun trading independently on the New York Stock Exchange. Abbott announced in October 2011 that it was separating into two independent companies, as its businesses evolved into two different investment identities. AbbVie is a research-based specialty biopharmaceuticals company with a broad portfolio of medicines and a pipeline of therapies. Abbott is one of the largest science-based, diversified health-care companies, with offerings in diagnostics, medical devices, nutritionals, and branded generic pharmaceuticals. “Abbott has taken the most transformative action in its 125-year history,” says Miles D. White, chairman and CEO of Abbott.
Beyond IHS Chemical Week
Indian drug majors to supply life-saving medicines to Iran
Major drug makers from India such as Ranbaxy, Cipla, Glenmark, and Ind-Swift Laboratories will supply life-saving drugs to Iran.