Life Sciences

FDA lays out cell therapy fast track in regenerative medicine framework

November 17, 2017

The FDA has created a policy framework for cellular therapies and other regenerative medicines by releasing two draft and two final guidance documents. Publication of the texts builds on the 21st Century Cures Act by setting criteria for the new Regenerative Medicine Advanced Therapy (RMAT)..

Shanghai Pharma buys US Cardinal Health’s China business for $557 million

November 16, 2017

Shanghai Pharmaceuticals has agreed to buy Cardinal Health’s China drug distribution business for $557 million, winning a highly competitive auction in a move that will greatly expand its presence nationwide. The deal will also help Shanghai Pharma, China’s third-largest drug distributor, become a leading importer..

Bayer hires new blood to stem ‘Amazon effect’ in consumer health

November 16, 2017

German drugmaker Bayer has hired the head of Nestle’s baby food business to help it reverse a drop in revenue from consumer health brands, which often fail to appeal to buyers on Amazon and other online platforms. Bayer has appointed Nestle’s Heiko Schipper, 48, to..

Acquisitive Quotient buys CDMO Pharmaterials, reveals new identity

November 15, 2017

After two U.S. acquisitions back in February, Quotient Clinical has been renamed as Quotient Sciences, and right after that, made another purchase. U.K.-based CDMO Pharmaterials is now part of the rebranded Quotient Sciences. Quotient said in a release that the acquisition strengthens its formulation and..

Cardinal Health unloads China business to Shanghai Pharma for $557M

November 15, 2017

China’s government-owned Shanghai Pharma is shelling out more than $550 million to buy the China operations of U.S.-based Cardinal Health, a move that will make Shanghai the largest drug distributor in the country. The $557 million deal, which includes Cardinal China’s pharmaceutical and medical products..

Turnstone Biologics nabs Bristol-Myers R&D exec as new research chief

November 15, 2017

Turnstone Biologics has poached Mike Burgess, MBChB, Ph.D., from Bristol-Myers Squibb to be its new head of R&D. Burgess, who had been at BMS as its SVP, head of exploratory clinical and translational research since 2013, has jumped ship to the early-stage startup, which is..

Sweden’s Recipharm closing 2 plants, cutting 225 workers

November 15, 2017

Recipharm has been among the CDMOs that have rapidly expanded to get a global footprint and a wider set of services. With the growth now dragging on earnings, the drugmaker will close two plants in Sweden and lay off 225 workers. The company is closing..

Flagship cancer startup Torque gets $25M, Rhythm founder as CEO

November 14, 2017

Flagship Pioneering has launched its latest biotech, Torque, as it hopes to power through using a new class of “deep-primed” immune cell therapies in cancer. The preclinical company started off with $25 million from its VC, 30 employees and digs in Kendall Square, Cambridge, Massachusetts,..

Ablynx CSO becomes CEO at UK biotech

November 14, 2017

Tony de Fougerolles has been named chief executive of privately-held UK biotech Evox Therapeutics. Taking over from acting CEO Per Lundin, Dr de Fougerolles has been appointed to help to drive Evox towards its goal of creating a world-leading platform technology for the translation of..

After much hype, Pfizer finally pulls away from Chinese JV

November 14, 2017

Talk about Pfizer abandoning its shares in a Chinese joint venture with Zhejiang Hisun Pharma has been circling around for at least a year, and now the talk has become reality. Pfizer has officially sold all of its 49% stake to an investment fund. Sapphire..