Tuesday, October 11, 2016
Teva Pharmaceutical Industries has agreed to sell assets and operations of Actavis Generics in the U.K. and Ireland to Accord Healthcare Limited (a subsidiary of Intas Pharmaceuticals) for an agreed value of GBP 603 million, subject to final approval from the European Commission.
Metabrain Research, an innovative biotechnology company focused on the early development of drugs for the treatment of type 2 diabetes and inflammatory diseases, announced the signature of an agreement with Medicxi, a European life sciences venture capital firm, for the inception of Kymo Therapeutics, incorporated in Cambridge, U.K.
ICU Medical will acquire all of Pfizer’s global infusion therapy business, Hospira Infusion Systems (HIS), for $1 billion in cash and stock. The Hospira Infusion Systems business includes IV pumps, solutions, and devices that, when combined with ICU Medical’s existing businesses, will create a leading pure-play infusion therapy company, with estimated pro forma combined revenues of approximately $1.45 billion based on trailing twelve month results as of June 2016.
ImmunoGen, a leader in the expanding field of antibody-drug conjugates (ADCs) for the treatment of cancer, has announced the completion of a strategic review of its operations. As a result of this initiative, the company will reduce its workforce by 17% and seek to partner its non-core B-cell lymphoma programs, creating a stronger organization focused on delivering innovative ADC therapies that meaningfully improve the lives of cancer patients.
CÚRAM, the Centre for Research in Medical Devices, has launched in Ireland. CÚRAM is a Science Foundation Ireland Research Centre based at NUI Galway, which is a unique symbiotic relationship of academia and industry partners that pushes the scientific frontiers in medical devices.
Pfizer has announced that, after an extensive evaluation, the company’s board of directors and executive leadership team have determined the company is best positioned to maximize future shareholder value creation in its current structure and will not pursue splitting Pfizer Innovative Health and Pfizer Essential Health into two separate, publicly traded companies at this time.
Pharmaron, a private, premier R&D service provider for the life science industry, has entered into a non-binding Heads of Terms (HoTs) with Merck Sharpe & Dohme Limited (MSD) for the sale of the Hoddesdon U.K. site, which includes MSD’s process development and research facility. The parties hope to complete the deal in Q1 2017.
The Children’s Hospital of Philadelphia (CHOP) has announced the creation of the Roberts Collaborative for Genetics and Individualized Medicine at CHOP. The $50 million Roberts Collaborative will position CHOP at the forefront of pediatric genetics research and will take a multidisciplinary approach toward diagnostics, clinical management, consulting, therapeutics and research driven by the power of genetics. The Roberts family is the principal source of external funding for this initiative, with a $25 million gift that will facilitate the integration of all clinical departments, divisions and centers for the care of pediatric patients, as well as advance a relentless pursuit of breakthrough cures for childhood disease.
GE Healthcare, the $18 billion healthcare technology division of GE, launched the company’s first healthcare accelerator, five.eight, aimed at improving healthcare outcomes for the world’s developing economies. The accelerator will target global health startups with a vision to improve healthcare quality and accessibility in developing or low-resource settings—from education and training to disruptive, low-cost technologies and digital applications.