Pharmaceutical Processing

Purdue Pharma may have reached a bankruptcy settlement in the U.S. Bankruptcy Court in White Plains, New York, but several states intend to press forward by appealing the decision of Judge Robert Drain.  Judge Drain’s decision would direct $4.5 billion over a decade to support measures intended to fight the opioid crisis. “Substantially all of…

Catalent (NYSE:CTLT) has been on something of a spending spree during the pandemic. Looking to bolster its nutraceutical business, the company announced it would acquire Plano, Texas–based Bettera Holdings LLC for $1 billion. Bettera specializes in gummy, soft chew and lozenge products within nutritional supplements. Also this year, Catalent has acquired RheinCell Therapeutics, which develops induced…

Pfizer Inc. (NYSE: PFE) has hired McKinsey (New York City) veteran Aamir Malik as executive vice president and chief business innovation officer. Malik had worked at the consulting giant for 24 years. He supported New York–based McKinsey’s healthcare business in the U.S., Europe, Asia and Latin America and most recently worked as the managing partner…

The oncology firm Trillium Therapeutics (NSDQ:TRIL) saw its share price spike to $17.59 today from $6.09 on Aug. 20 after Pfizer announced its plan to purchase the company for $2.26 billion. Pfizer (NYSE:PFE) agreed to pay $18.50 per share, representing a 118% premium over the 60-day weighted average price for Trillium. Pfizer explained in a statement…

Cardinal Health (NYSE:CAH) announced that it extended agreements with CVS Health over pharmaceutical distribution. The agreements for the distribution of pharmaceuticals to retail pharmacies and distribution centers run through June 30, 2027, according to a news release. “We value our long-standing partnership with CVS Health, and we are honored to continue our important work together…

XOMA Corp. (NSDQ:XOMA) has installed Heather L. Franklin to its board of directors. Franklin is the president and chief executive officer of the biotech company Blaze Bioscience, Inc. (Seattle). Franklin has more than a decade of leadership experience at the development-stage oncology firm Blaze and another 10 years of business development experience at ZymoGenetics. “I…

Moderna (NSDQ:MRNA) announced today that it entered into a Memorandum of Understanding (MoU) to build a vaccine manufacturing facility in Canada. Cambridge, Mass.-based Moderna did not disclose where in Canada the facility will be located. A CBC News report cited a company’s spokesperson as saying the company is in negotiations with Ottawa over the location…

Boehringer Ingelheim (Ingelheim, Germany) has teamed up with the prescription drug pricing tracker GoodRx (NSDQ:GDRX) to facilitate patients’ access to cost savings. For instance, people with type 2 diabetes or chronic obstructive pulmonary disease (COPD) can use GoodRx to enroll in copay programs for relevant Boehringer Ingelheim drugs. The two companies estimate that the alliance…

Former President Trump’s plan to peg the price of some drugs to those paid in other developed nations was always controversial. Not long after Trump unveiled an executive order supporting the idea on Sept. 13, 2020, organizations, including PhRMA and Regeneron, filed lawsuits to block the rule. Several courts agreed that the policy, which CMS codified…

The drama surrounding the inhalable drug delivery specialist Vectura (LON:VEC) continues. On Monday, Philip Morris boosted its offer to acquire Vectura to 165 pence ($2.30) per share, beating Carlyle’s latest offer of 155 pence ($2.16). In July, Philip Morris (NYSE:PM) agreed to acquire inhaled drug delivery technology developer Vectura for $1.2 billion, drawing criticism from the American…