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Pharma/fine chemicals roundup—14 May 2013
11:14 AM MDT | May 14, 2013 | By DEEPTI RAMESH
Ampac Fine Chemicals swings to profit
Ampac Fine Chemicals (AFC; Rancho Cordova, CA), a subsidiary of American Pacific (Las Vegas), recorded an operating profit of $3.8 million in its fiscal second quarter, ended 31 March, compared with an operating loss of $1 million in the year-ago quarter. Second-quarter sales were $37.3 million compared with $20.6 million in the year-ago period. For the fiscal first half ended 31 March, AFC recorded an operating profit of $5 million compared with an operating loss of $2.2 million in the corresponding period of the previous fiscal year. First-half sales were $58.6 million compared with $42.1 million in the year-ago period. In the fine chemicals segment, oncology product revenues increased in both the second quarter and the six-month period, supported by revenues from new oncology products for drugs that were commercialized in the later part of the previous fiscal year, the company says. The second quarter also includes increases from the anti-viral, central nervous systems and development product groups. These increases are substantially due to inter-quarter timing when compared to the prior fiscal year, AFC says.
ScinoPharm and Coland form alliance for oncological injectable products for China
Active pharmaceutical ingredients (APIs) manufacturer ScinoPharm Taiwan (Shanhua, Taiwan) says that it has formed a strategic alliance with Coland Holdings (Shanghai) to develop a series of generic oncological drugs for mainland China. The cooperation utilizes ScinoPharm’s process R&D and production advantages in the field of highly potent oncological APIs and Coland’s well-established marketing capabilities in China to build an active presence within China’s rapidly growing anticancer drug market. Under the alliance, ScinoPharm will provide the APIs; a third-party company will be commissioned to develop, formulate, and register oncological pharmaceutical products; and Coland and ScinoPharm will be jointly responsible for the marketing and sales efforts in the Chinese market. Several APIs have been initially selected for development and future sales as injectable formulation products from the list of ScinoPharm-developed APIs. This will allow the companies to compete in the anticancer drug market in China and to tap into this large and growing business, ScinoPharm says.
Codexis net loss widens
Codexis (Redwood City, CA), a company that engineers enzymes for pharmaceutical, biofuel, and chemical production, has reported a net loss of $9.62 million in the first quarter of 2013 compared with a net loss of $7.49 million in the year-ago quarter. First-quarter sales decreased 63%, to $11.48 million, primarily because of the termination of Codexis’s collaborative research agreement with Shell in August 2012 and the resulting loss of associated collaborative R&D revenue, Codexis says.
Codexis says that, as a result of the termination of the agreement with Shell, year-on-year comparisons for its first three quarters of 2013 are not an appropriate measure of the company’s financial performance. Sales for the first quarter of 2013 increased 45% from the fourth quarter of 2012. Product revenue in the first quarter of 2013 was $9.1 million, a 34% increase from $6.8 million in the fourth quarter of 2012. The first quarter net loss of $9.6 million compares with a net loss of $15.5 million during the fourth quarter of 2012.
USP opens center for pharmaceutical advancement and training in Ghana
The US Pharmacopeial Convention (USP; Rockville, MD) says it has launched a Center for Pharmaceutical Advancement and Training (Cepat) at Accra, Ghana, to increase the number of experts and available tools to combat falsified, substandard, and counterfeit medicines in countries in sub-Saharan Africa. Ghanaians and many in sub-Saharan Africa currently face a serious problem when it comes to accessing quality medicines, USP says. “Serious public health issues related to poor-quality medicines have been linked to lack of trained human resources, in countries with limited resources,” says Patrick Lukulay, v.p./global health impact programs at USP and who also oversees Cepat operations. “With the center, we want to bring the opportunity to improve local, quality assurance systems by training national regulatory agencies and quality-control professionals so they can fight the problem of fake and substandard medicines in a sustainable way.”
Ranbaxy’s API business reports fall in sales
The active pharmaceutical ingredient (API) business of Indian pharmaceutical major Ranbaxy Laboratories (Gurgaon, India) recorded sales of 1.81 billion Indian rupees ($33.2 million) in the first quarter, ended 31 March, compared with sales of $34 million in the year-ago quarter. Profits for the API business were not disclosed.