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Pharma/Fine Chemicals Roundup – November 22
4:40 AM MST | November 22, 2011 | By DEEPTI RAMESH
POLICE SEIZE COUNTERFEIT DRUGS WORTH $315 MILLION IN CHINA
The Chinese government says that police have seized counterfeit pharmaceuticals worth Rmb2 billion ($315 million) and arrested 1,770 suspects in a national raid on counterfeit drugs. The suspects used banned chemicals as ingredients for fake medicine, re-packaged expired drugs, and forged qualification papers, the government says. The fake drug producers have copied prescription drugs, oral tablets and injections from more than 100 domestic and overseas drug producers. Consumption of the drugs may lead to osteoporosis, diabetes, gastric ulcer or duodenal ulcer, and some of the fake drugs may damage the kidney or liver, the government says.
AESICA OPENS POTENT FORMULATED PRODUCTS FACILITY IN U.K.
Aesica Pharmaceuticals (Newcastle upon Tyne, U.K.), a provider of active pharma ingredients (API), formulations, and custom synthesis, says it has opened its new £3-million ($4.7 million) potent manufacturing facility at Queenborough, U.K. Aesica chose to build the facility at Queenborough as the site already manufactures potent APIs and therefore had formulation expertise and experience in handling controlled drugs, the company says. With the addition of the new facility, Aesica can now manufacture potent formulated products typically classified as SafeBridge category 3.
The addition of the new facility “will be of huge benefit to our current clients and indeed all pharmaceutical companies who require potent drug product production. In fact, one thing we will be looking at is the manufacture of a narcotic analgesic for severe pain relief,” says Simon Clough, managing director/Formulated Products business unit at Aesica.
EVONIK COMPLETES ACQUISITION OF SURMODICS PHARMACEUTICALS
Evonik Industries says it has completed the previously announced acquisition of SurModics Pharmaceuticals (Birmingham, AL), a unit of SurModics (Eden Prairie, MN). The acquired business will be named Birmingham Laboratories, and it will be integrated into Evonik Degussa Corp. (Parsippany, NJ). All employees of SurModics Pharmaceuticals will transfer to Evonik.
SurModics Pharmaceuticals designs and produces bio-resorbable polymers and carries out all phases of pharmaceutical product development up to commercial manufacturing. The business focuses on the development of injectable drug delivery systems that systemically or locally release APIs within a period of up to several months.
PHARMA FIRMS EXPERIENCE HIGH PURITY HYDROCHLORIC ACID SHORTAGE
By Alex Scott
Rx-360, a global industry group made up of fine chemical manufacturers and pharmaceutical companies to promote security and supply in the pharmaceuticals supply chain, has flagged a shortage of supply of high purity hydrochloric acid across the market. Rx-360 says its members, which include companies such as Bayer, GlaxoSmithKline and Pfizer, have been reporting a shortage for several weeks.
VALEANT PHARMACEUTICALS TO ACQUIRE INOVA FOR $634 MILLION
Valeant Pharmaceuticals International (Mississauga, Canada) says it has signed an agreement to acquire iNova Pharmaceuticals (Thornleigh, Australia) from private equity firm Archer Capital, Ironbridge and other minority management shareholders. Valeant will pay iNova shareholders A$625 million ($634 million) upfront and up to an additional A$75 million in potential milestones based on the success of pipeline activities, product registrations and overall revenue. iNova develops and markets a range of over-the-counter and prescription medicines. iNova's revenues are expected to be about A$200 million in 2011. Valeant develops, manufactures and markets a range of pharmaceutical products primarily in the areas of neurology, dermatology and branded generics.