September 12, 2019 - Outsourcing Pharma
Covance opens a new facility in Shanghai, its biggest in Asia Pacific, to boost its research and development services offering.
September 11, 2019 - Fierce Pharma
Private equity investor Advent International has picked up another piece of Sanofi that it is shedding as the French drugmaker sharpens its focus on branded drugs. After laying out $2.2 billion for Sanofi’s generics operation Zentiva last year, it has followed up with a much smaller deal. Sanofi India today announced the sale of a manufacturing plant in Ankleshwar, Gujarat to Advent’s Zentiva for Rs 2,617 million ($36.5 million). The 32-year-old plant produces intermediates and formulations and has an annual capacity for more than 6 billion tablets.
September 11, 2019 - Fierce Biotech
GlaxoSmithKline has
struck
a deal to buy Sitari Pharmaceuticals, the first company created through its collaboration with Avalon Ventures. Sitari, a preclinical-stage biotech, is developing inhibitors of the TG2 enzyme as treatments for the autoimmune digestive disorder celiac disease. GSK and Avalon came together to found Sitari in 2013. Sitari raised a $10 million series A round in the same year and then worked within Avalon’s COI Pharmaceuticals incubator to develop intellectual property in-licensed from Stanford University’s Chaitan Kholsa. Having established a preclinical program, Sitari has now generated enough evidence to persuade GSK to acquire its operations.
September 10, 2019 - Fierce Pharma
Mallinckrodt is selling its CDMO unit for up to $250 million to a private equity firm, but that is a drop in the bucket of what it may need as it faces growing exposure to opioid and other litigation and as reports of bankruptcy circulate. The financially battered drugmaker today
said
it has a deal to sell BioVectra, its Canada-based contract manufacturer, to H.I.G. Capital for $250 million. The deal includes $135 million down, a long-term note for $40 million, and contingent payments of up to $75 million. It also comes just months after the U.K.-based drugmaker said it would expand BioVectra’s manufacturing with support from Canada.
