Monday, September 8, 2008
U.S. disease foundations will invest about $90 million this year in biopharmaceutical companies to fund discovery and development of new drugs and therapies for their corresponding diseases, according to CenterWatch estimates.
Canadian life science company MDS, the parent company of King of Prussia, Pa.-based CRO MDS Pharma Services, reduced its fiscal 2008 revenue and profit outlook after reporting lower than expected third-quarter results in its contract research division. The company now expects fiscal 2008 revenue to be in the range of $1.23 billion to $1.25 billion, down from its previous forecast of $1.25 billion to $1.29 billion.
India’s booming clinical trials business is under scrutiny, following a story in a UK newspaper that set off a flurry of media and regulatory attention.
Greenwich, Conn.-based Aptuit, a contract research organization (CRO), named Timothy (Tim) C. Tyson, a pharmaceutical industry veteran, as executive chairman and acting CEO, replacing Michael A. Griffith, the company’s founder and CEO since 2005. The company said Griffith resigned to pursue other opportunities.
RadPharm appointed Steven F. Owens to the newly created position of chief information officer. In this role, Owens will provide leadership to IT and development projects that enhance RadPharm’s technical capabilities and business processes. Before joining RadPharm, Owens was senior director of R&D at the Center for Imaging and Innovation.
Oncology accounted for the most registered clinical trials as of Nov. 1, 2007, according to a recent review of U.S. trials data on ClinicalTrials.gov. The analysis, conducted by Nature Reviews, examined two years of data for industry-sponsored phase II through phase IV trials, including trials that were first registered between October 2005 and September 2007. Oncology, central nervous system disorders, cardiology, infectious diseases, endocrinology and respiratory diseases accounted for almost two-thirds of all protocols and more than two-thirds of all sites. Rheumatology saw the highest relative growth in the number of trials, making rheumatoid arthritis the third most common disease for clinical trials.