Just a week after saying it would close a plant in the U.S. and whack 180 jobs, AstraZeneca said that a facility in the U.K. will also close and 250 more jobs will be cut there.
A pair of European diagnostics companies have wrapped up venture financings. Autoimmune diagnostician Protagen had a first close of a €10 million ($12.5 million) financing, while cancer genomic diagnostics company, 14M Genomics, a spinout of the Wellcome Trust Sanger Institute, got £12.5 million ($19.6 million).
The Cell Therapy Catapult is part of a government program created a couple of years ago to pump up the cell therapy industry in the U.K. The group plans to invest more than $85 million to build a large-scale cell manufacturing facility in Stevenage that companies can contract with for early-stage to commercial work.
Dialysis magnate Fresenius Medical Care, a leading provider of hemodialysis machines, has entered into a partnership to help commercialize the cytokine absorber CytoSorb to combat sepsis and other infections that can lead to organ failure. The financial terms of the pact were not disclosed.
Teva Pharmaceuticals has cut $650 million in costs this year but needs to more than double that over the next two as it faces generic competition to its workhorse multiple sclerosis drug Copaxone. A big part of that will be to continue revamping its production network, CEO Erez Vigodman says.
In this week's EuroBiotech Report, Shire impressed analysts with its bullish forecasts for sales growth between now and 2020, while also taking steps to ensure its pipeline is well stocked beyond that date by moving antibody candidates discovered in its 2012 alliance with arGEN-X into preclinical development. And more.
Amicus Therapeutics says it's on track to file its Fabry disease treatment for European approval next year, the next major step for a biotech in the midst of comeback.
Cantel Medical is up about 30% this year on investor enthusiasm for its sales growth in endoscopy, as well as a brisk acquisition strategy. But its shares were down about 1% in early trading on Dec. 10 after the company reported first quarter earnings that missed expectations a bit.
Recipharm, a Swedish contract development manufacturer, said it may be forced to eliminate up to 60 jobs and close one of its plants after Meda, a specialty pharmaceutical group, opted to drop one of its contracts with the company.
SetPoint Medical is starting a clinical trial to treat Crohn's disease patients with its implantable neuromodulation device. The startup previously reported a positive pilot study of the device to treat rheumatoid arthritis.