WuXi PharmaTech, 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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PRA Health Sciences is building up its presence in Pennsylvania, adding 150 jobs with plans to dial up recruitment over the next two years.
INC Research added a new tool for early-stage safety studies, bringing in a new technology the company says will make Phase I cardiac trials more efficient.
Privately held CRO PPD scored two federal contracts tasking it with helping to improve health outcomes for active-duty soldiers and aiding with the government's stockpile of flu vaccines.
WuXi PharmaTech, working to expand the adoption of its new clinical genomics service, partnered up with a large Qatari hospital to sequence the genomes of patients and help guide treatment.
Genae, a med tech-focused CRO, opened a Japanese outpost to broaden its reach, setting up shop in Tokyo with eyes on the growing Asian market for medical devices.
Preclinical CRO Charles River Laboratories brought in three new discovery contracts with outfits funded by the Wellcome Trust, lending its expertise in early-stage drug development.
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When the FDA last year yanked away its initial approval of Ranbaxy's generics of two blockbusters including the heartburn med Nexium, the Indian drugmaker fired back with a lawsuit against the FDA. But Ranbaxy is now owned by Sun Pharmaceutical, which sees no upside to fighting with the agency, and so it has dropped the litigation.
Credit Suisse analyst Vamil Divan is optimistic about sales of Eli Lilly and Boehringer Ingelheim's Jardiance. He's raised his rating on Lilly to outperform, lifting his stock price target to $105--25% above Thursday's closing price of $83.77.