After months of rumor, vagary and anticipation, global CRO Quintiles is finally a public company, raising a total of $947 million after tendering more shares than initially planned.
By now, you've been hearing this for months: Venture investing in the medical device world is on a downward slide with no sign of stopping. And the problem is most acute for early-stage companies. The trend continued last week with news that the decline deepened dramatically in the first quarter of 2013, according to the latest MoneyTree Report from PricewaterhouseCoopers and the National Venture Capital Association (based on Thomson Reuters data). Read the full report >>
The R&D numbers for the top 10 biotechs may only amount to a fraction of what you'll find in Big Pharma. But unlike the giants, which are trying to keep a lid on multibillion-dollar budgets, you'll find a much faster crowd when you turn your gaze to the biotechs. All 10 reported increases in their research spending for last year. And a few of them slammed their foot on the gas pedal.
Altogether the top 10 biotechs spent $11.8 billion on R&D in 2012, according to our research, a hefty 15% average increase over their 2011 performance. Compare that to the stable year-over-year record in Big Pharma, where doing more with the same amount of cash has become an industry mantra. Read the report >>
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Amid repeated pipeline struggles and an R&D re-think, Merck KGaA has signed an exclusive deal with the newly public Quintiles, launching a novel collaboration that will give the CRO a seat at the decisionmaking table.
BioDuro, PPD's China-based drug discovery business, has opened a state-of-the-art facility in Shanghai, a lab the company says will help it cozy up to clients in the growing Asian biopharmaceutical world.
WuXi PharmaTech, China's largest CRO, has big expectations for 2013, and the company is well on its way to following through, posting an 11.7% revenue jump in the first quarter.
Stat Research, a Buenos Aires-based CRO, has reached out to eClinical provider Datatrak in an effort to reduce clinical trial costs and accelerate drug development timelines.
PRA has cut the ribbon on a new facility in Wales, planning to add about 100 new jobs in its informatics unit with help from the local government.
Harlan Laboratories is investing heavily in its Indiana and California facilities, bolstering specialty research by more than doubling its number of isolators.
From Our Sister Sites
An enzyme inhibitor that helps repair DNA damage may provide a new way to boost the effectiveness of radiation therapy for a lethal type of brain cancer.
The North Chicago, IL-based drug giant and Belgium's Galapagos have agreed to expand their collaboration on an oral JAK1 inhibitor to include Crohn's disease.