Pharma/fine chemicals roundup—9 April
9:40 AM MDT | April 9, 2013 | By DEEPTI RAMESH
Teijin acquires 10% stake in Kyorin Holdings
Teijin says it has acquired 7.59 million shares, or 10% of the outstanding shares of Kyorin Holdings (Tokyo), from Kyorin’s major shareholder. Teijin and the same shareholder also signed an agreement to jointly share the voting rights carried by their cumulative holdings, which exceed 20% of Kyorin's shares, Teijin says. Kyorin is involved in controlling, administering, and supporting companies that conduct various businesses. Some of its major subsidiaries and affiliates include Kyorin Pharmaceutical (Tokyo), Kyorin Rimedio (Kanazawa, Japan), Kyorin Medical Supply (Tokyo), Kyorin Pharmaceutical Facilities (Koka, Japan), Nippon Rika (Tokyo), and ActivX Biosciences (San Diego). In 2003, Teijin called off a planned merger of its pharmaceutical business unit with Kyorin Pharmaceutical, citing differences over the merger ratio of the two companies.
Lonza and Teva reaffirm commitment to biosimilars joint venture
Lonza and Teva Pharmaceutical (Petaḥ Tiqwa, Israel) say that the potential to develop, manufacture, and market affordable, efficacious, and safe biosimilars remains an area of significant opportunity for both companies. The announcement follows recent press reports which suggest that the future of their previously announced biosimilars joint venture is doubtful. Lonza and Teva agreed in 2009 to establish a jv to develop, manufacture, and market a portfolio of biosimilars. Richard Ridinger, Lonza CEO, in a recent interview with a Swiss business newspaper, says that the costs of developing biosimilars have gone up sharply and that it is unclear if the business model of the jv that was initially agreed on is still effective. Lonza and Teva have, however, reaffirmed their commitment to the jv.
FDA issues warning letter to API manufacturer in Japan
US FDA issued a warning letter late last month to the active pharmaceutical ingredient (API) manufacturing facility of Asada Milling Co. (Kanra, Japan), for deviating from cGMP. An FDA inspection of the Kanra API facility from 9–12 October 2012 identified significant deviations from cGMP for the manufacture of APIs, FDA says.
Hovione signs agreement with Ligand Pharmaceuticals for Captisol technology
Active pharmaceutical ingredients (APIs) producer Hovione (Loures, Portugal) says it has entered into a copromotion and collaboration agreement with Ligand Pharmaceuticals (La Jolla, CA) to provide Hovione’s customers access to Captisol technology. Captisol is a patent-protected, chemically modified cyclodextrin whose chemical structure was rationally designed to enable the creation of new products by significantly improving solubility, stability, bioavailability, and dosing of APIs.
Teva-Handok appoints CEO
Teva Pharmaceutical (Petaḥ Tiqwa, Israel) and Handok Pharmaceuticals (Seoul) say that their new Teva-Handok joint venture has appointed Yoo Suk Hong as the first CEO. The Teva-Handok jv was formed in February and focuses on the Korean pharmaceutical market, currently valued at about $14 billion. Teva-Handok is expected to officially launch its first products in September. Teva-Handok brings together Teva’s manufacturing expertise and portfolio of generic and innovative medicines and Handok’s sales and marketing, distribution, and regulatory affairs capabilities. Yoo Suk Hong was appointed as the CEO of Lilly Korea in 2007 and then had been based at the Eli Lilly headquarters in the United States since 2008 as the marketing strategy director of emerging markets covering areas such as Korea, China, India, Brazil, and Russia.
Dr. Reddy’s establishes R&D center at Princeton, NJ
Dr. Reddy’s Laboratories (Hyderabad, India) says it will relocate its North America headquarters to a bigger facility at Princeton, NJ, and will also establish a R&D center in the city. The new North America headquarters is projected to employ over 300 people as the US businesses within Dr. Reddy’s continue to expand in the coming years. The lab facility will accommodate the company’s product development and analytical laboratory requirements and will employ 35 scientists, chemists, and support personnel. “This R&D center, along with centers in Cambridge, UK; and Leiden, Netherlands, establishes our presence within some of the leading innovation centers of the world,” says GV Prasad, chairman and CEO of Dr. Reddy’s. Dr. Reddy’s has the second-largest active pharmaceutical ingredient business in the world in terms of sales, after Teva Pharmaceutical Industries (Petaḥ Tiqwa, Israel).
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