Veranova’s Macfarlan Smith subsidiary announced that it had completed a $10 million mid-scale API manufacturing expansion in Edinburgh, UK. This new facility can produce highly active APIs as well as intermediates. It will meet the growing demand of generic opioid analgesics as well as anti-addiction drugs. The API manufacturing expansion is the first of two investments,…
Catalent shares up almost 60% in 2023 as acquisition rumors swirl
Contract manufacturing giant Catalent (NYSE:CTLT) is rumored to be the target of a Danaher (NYSE:DHR) acquisition, according to a Bloomberg report. CTLT shares were trading at $72.15 in afternoon trading on Tuesday, an increase of 58.75% over its valuation at the beginning of 2023. The company’s market cap is close to $13 billion. If the deal…
Cardinal Health pharmaceutical segment grows sales 15% in Q2
Cardinal Health (NYSE: CAH) today posted second-quarter results that beat the overall consensus on Wall Street. The Dublin, Ohio-based company reported losses of $130 million, or 50¢ per share, on sales of $51.5 billion for the three months ended December 31, 2022. Cardinal Health’s results swung to a loss versus the same quarter a year…
Cardinal Health, Palantir partner on AI for pharmaceutical products
Cardinal Health (NYSE:CAH) announced that it entered into a strategic collaboration with Palantir Technologies (NYSE:PLTR). The partnership pairs the companies to design a solution to give health systems and hospitals dynamic purchase decision insights. These insights help them quickly improve their bottom line. Dublin, Ohio-based Cardinal Health plans to integrate this solution into Foundry, Palantir’s…
Agilent spends $725M to expand manufacturing
Agilent recently announced that it plans to double its manufacturing capacity of therapeutic nucleic acids. The $725 million investment will go toward the Santa Clara, California–based company’s Frederick, Colorado facility. The Colorado plant will get new Train C and D manufacturing lines. The facility already has a Train B manufacturing line, announced in 2020, that…
Baxter may look to sell off BioPharma business
Baxter (NYSE:BAX) today unveiled a strategic roadmap for its future that includes potential plans for its BioPharma Solutions (BPS) business. The company’s plans include a simplified commercial and manufacturing footprint, according to a news release. The company also intends to improve its capital structure. That includes a review of strategic alternatives for its BioPharma Solutions…
Scorpion Biological Services changes name to Scorpius BioManufacturing post-expansion
The contract development and manufacturing organization (CDMO) Scorpion Biological Services will adopt the name Scorpius BioManufacturing after unveiling expanded manufacturing capabilities earlier this year. The company opened a new biomanufacturing facility in San Antonio in October. Scorpius will be headquartered in the same city. A string of companies have also changed their name in 2022. The smoking…
Catalent to invest $40M in biologics facility in Durham, North Carolina
Contract manufacturing giant Catalent has announced that it will set up a new biologics analytical center of excellence in North Carolina’s Research Triangle. The new plant will offer analytical development and testing services for biologics, including cell and gene therapies. Catalent obtained a Job Development Investment Grant (JDIG) from the North Carolina Economic Investment Committee…
Sumitovant Biopharma merges its Enzyvant and Altavant subsidiaries
Enzyvant Therapeutics and Altavant Sciences today announced plans to merge to form a biopharmaceutical company focused on life-altering therapies for people with rare diseases. Through the deal, the combined company will retain the name Enzyvant and will be equipped with a full range of capabilities spanning non-clinical and clinical development and commercialization. It is also…
AstraZeneca sells Ohio manufacturing site to National Resilience
AstraZeneca (LON:AZN) has sold its site in West Chester, Ohio, to National Resilience, a San Diego–headquartered biomanufacturing company. Resilience has agreed to maintain the site’s operations and assets while retaining its employees, including executives. The company will also continue investing in the site’s workforce and facility. Privately-held National Resilience also has separately announced that it…