WuXi PharmaTech ($WX), China's largest CRO, agreed to a $3.3 billion buyout deal that would take it off of Wall Street and into the hands of some private investors. Pending shareholder approval, the Shanghai-headquartered company will cease its U.S. listing in the fourth quarter of this year, selling itself to a newly formed parent company in an all-cash deal that trades $46 for each of WuXi's American-traded securities. The total represents a 16.5% premium over WuXi's closing price before the potential deal came to light. Read more >>
PPD, angling to stand out among CROs running pediatric trials, has cemented a network of 8 global sites to accelerate the process of starting studies on kids. Read more >>
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Germany's Evotec grew its revenue 37% in the first half of 2015, as its CRO-like business brought in cash to support the company's in-house R&D.
Leading CRO INC Research is boosting its upper echelon in the areas of general medicine and central nervous system R&D, promoting two key members.
Chinese small-cap Lee's Pharm has signed CRO WuXi PharmaTech as its exclusive lab testing service to bolster the company's R&D program.
Thanks to pharma's R&D cost-cutting efforts, the CRO industry will expand at nearly a 10% clip through 2019, a new report says, citing trends that many industry-watchers will find familiar.
Swedish contractor Recipharm inked a deal with Israeli biotech RedHill Biopharma to produce the company's leading drug candidate for clinical trials and an expected commercial launch.
A few months ago, the European Medicines Agency followed through on a threatened continental marketing halt affecting about 700 drugs in Indian CRO GVK Biosciences' generic lineup due to allegations of manipulated trial results. Now, Germany's regulators have suspended another 54 drugs tested by GVK in accordance with the EMA's recommendations.
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Shire has been quiet since making its unwelcomed $30 billion bid to acquire Baxalta public earlier this month. But Baxalta evidently isn't waiting for the next step to play out in that dance. Bloomberg is reporting this afternoon that Baxalta is hunting for an acquisition around the $2 billion mark that would add to its hematology pipeline.
Engineer Scott Leibrand and diabetes patient Dana Lewis have created an artificial pancreas, via years of constant experimentation and iterative upgrades.