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Pharma/fine chemicals roundup—19 August 2014
3:12 AM MDT | August 19, 2014 | By DEEPTI RAMESH
Perrigo's API segment reports fall in sales and operating profits
The active pharmaceutical ingredient (API) business segment of Perrigo (Dublin) reports a 20.5% fall in sales in the company’s fiscal fourth quarter ended 28 June 2014, compared with the year-ago period, to $32.5 million. Operating profits for the API segment decreased 12% in the quarter, to $8.8 million. The API segment's fourth-quarter sales declined due primarily to a $17-million decrease in sales of existing products as a result of increased competition on certain products, partially offset by $8-million in new product sales, Perrigo says.
For the full fiscal year ended 28 June 2014, the API segment reports a 13.6% fall in sales compared with the previous fiscal year, to $137.6 million, and operating profits for the full fiscal year decreased 5.7%, to $46.1 million.
Carbogen Amcis takes over HPAPI plant in Switzerland
Carbogen Amcis (Bubendorf, Switzerland), a subsidiary of Dishman Pharmaceuticals and Chemicals (Ahmedabad, India), says that it has signed a long term lease agreement with Bachem (Bubendorf) to take over operations of its high-containment facility at Vionnaz, Switzerland. The Vionnaz unit develops and manufactures highly potent active pharmaceutical ingredients (HPAPIs) and can accommodate projects from gram to multi-kilo scale.
"We are facing a significant increase in demand for high potency services, spurred by the fast-paced growth of the antibody drug conjugates [ADCs] market," says Mark Griffiths, CEO of Carbogen Amcis. The Vionnaz unit "will ensure we can continue to fulfill customer needs and expectations while our company continues to grow and expand. Our partners will benefit from additional high potency capabilities available at the Vionnaz facility such as high potency laboratories, cGMP kilo-scale manufacturing, as well as larger scale lyophilisation.”
ScinoPharm appoints new CEO
ScinoPharm (Tainan, Taiwan), a company that develops and manufactures active pharmaceutical ingredients (APIs), says that its co-founder, president, and CEO Jo Shen retired at the end of July and Yung-Fa Chen has succeeded him, effective 1 August. Chen joined ScinoPharm in 1998 and has held various management positions in the company and was most recently v.p./R&D and chief technology officer. Shen led ScinoPharm since its founding in 1997, and he will continue to serve as a member of ScinoPharm’s board of directors.
Mallinckrodt acquires Questcor Pharmaceuticals
Specialty pharmaceutical company Mallinckrodt (Dublin) says that it has completed its acquisition of Questcor Pharmaceuticals (Anaheim Hills, CA) in a cash and stock transaction valued at about $5.8 billion. Mallinckrodt was formed last year when health-care products company Covidien (Dublin) separated its pharmaceuticals business including the company’s active pharmaceutical ingredients business, which is now held by Mallinckrodt, an independent company. Mallinckrodt's 2013 revenue totaled $2.2 billion.
Recipharm acquires Corvette Pharmaceutical Services for $160 million
Recipharm (Jordbro, Sweden), a contract development and manufacturing organization in the pharmaceutical industry, says it has signed an agreement to acquire Corvette Pharmaceutical Services (Milan, Italy) from Italian private equity group LBO Italia Investimenti, for about 1.1 billion Swedish kronor ($160 million).Corvette has three manufacturing facilities in northern Italy, and each facility specializes in a different technology and business area. The facility at Paderno Dugnano is an active pharmaceutical ingredient and finished dose form development and manufacturing facility.
Catalent appoints two senior executives to its board
Catalent Pharma Solutions (Somerset, NJ), a provider of advanced delivery technologies and development solutions for drugs, biologics and consumer health products, says that it has appointed Jack Stahl and Rolf Classon to its board of directors. Classon was chairman of the executive committee at Bayer HealthCare from 2002 until his retirement in 2004. He served as president of Bayer Diagnostics from 1995 to 2002 and as executive v.p. from 1991 to 1995. Prior to 1991, Classon held various management positions with Pharmacia. Stahl was president and CEO of Revlon between 2002 and 2006. Previously, he acted as president and COO of The Coca-Cola Co. from 2000 to 2001.