Pfizer recently announced that it will wind down the construction of an Everett, Washington cancer therapies manufacturing plant that it inherited through its $43 billion acquisition of Seagen last year. Over the summer before the acquisition closure in December 2023, Seagen had inked a $215 million deal with contractor Skanksa to build the 270,000-square-foot facility,…
AbbVie president and COO to move into corner office
AbbVie (NYSE: ABBV) recently announced that its board of directors has decided to promote the company’s president and COO Robert A. Michael into the corner office. Michael will succeed Richard A. Gonzalez, who is retiring as CEO on July 1. Gonzalez will stay as executive chair of AbbVie’s board. “On behalf of AbbVie’s board, I…
AbbVie is expanding its Singapore biologics plant
AbbVie (NYSE: ABBV) recently announced that it will spend $223 million to expand its Singapore biologics manufacturing facility. Construction will commence immediately, with the facilities coming online in 2026. The added facilities will create 100 new jobs at the plant, boosting total employment to more than 500 positions in manufacturing, quality assurance, supply chain, engineering…
BD lays off 100 at biotech reagent plant in California
BD recently informed California’s Employment Development Department that it will relocate its Biosciences division’s reagent manufacturing and R&D operations in San Jose. The Life Sciences tech giant is laying off roughly 100 workers due to the relocation to other BD sites, according to its WARN letter dated Dec. 12, 2023. The layoffs have been taking…
Lantheus announces a new CEO
Radiopharmaceutical-focused Lantheus Holdings (NASDAQ: LNTH) announced today that current board chair and industry veteran Brian Markison will become the company’s CEO, effective March 1. Markison succeeds Mary Anne Heino, who is retiring from Lantheus’ corner office after leading the company for nine years. Heino will serve as board chair after March 1. Board member Julie…
Bayer plans significant job cuts as it restructures
Bayer recently announced that it is embarking on a comprehensive restructuring plan with significant staff reductions. The Germany-based pharma giant’s management aims to enhance operational performance through a new model called “Dynamic Shared Ownership” (DSO). This strategic change aims to reduce hierarchies, eliminate bureaucracy, streamline structures, and accelerate decision-making processes. The new model, however, will…
AbbVie launches Produodopa in the EU to treat Parkinson’s
AbbVie (NYSE: ABBV) recently announced the launch of its Parkinson’s disease drug Produodopa (foslevodopa/foscarbidopa) in the European Union. Produodopa is for the treatment of advanced Parkinson’s disease with severe motor fluctuations and hyperkinesia (excessive movement) or dyskinesia (involuntary movement). It’s indicated for use when combinations of Parkinson’s medicinal products have not given satisfactory results. North…
Moderna resizes its manufacturing footprint for a post-pandemic era
Moderna (NASDAQ:MRNA) is progressing on efforts to resume revenue growth in 2025 — even as COVID-19 vaccine sales decline now that the virus is endemic versus a pandemic. During a presentation at the JP Morgan Healthcare Conference this week, Moderna CFO Jamey Mock noted that the company took a charge of $1.6 billion during the…
Novartis opens new radioligand therapy manufacturing facility in Indianapolis
Novartis today announced the expansion of its radioligand therapy (RLT) manufacturing capabilities with a new facility in Indianapolis. The Basil, Switzerland–based pharma giant said it has received FDA approval for commercial manufacturing in Indianapolis of its RLT therapy Pluvicto (lutetium Lu 177 vipivotide tetraxetan) to treat advanced metastatic prostate cancer. The new 70,000-square foot facility…
Biden’s supply chain plans include made-in-America medicines
The Biden administration recently announced efforts to strengthen the pharmaceutical supply chain, mitigate shortages of essential medicines, and expand domestic manufacturing. The new efforts are part of an overall package of initiatives to boost U.S. supply chains that the White Houe announced on Nov. 27. Securing the country’s supply of medicines and lowering prices have…