Drug Sponsors

PharmaNet On The Road To Recovery

Tuesday, May 8, 2007

Princeton, N.J.-based PharmaNet Development Group reported first quarter revenue of $84.8 million compared with $74.4 million in the first quarter of 2006, a 13.9% increase. Total revenue, after out-of-pocket expenses, reached $107 million for the period.

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Striving For Diversity In Clinical Trials

Wednesday, May 2, 2007

AstraZeneca has launched a new initiative to address the lack of diversity in U.S. clinical trial participants. The big pharma company will provide significant grants to the National Medical Association (NMA), which represents more than 30,000 African American physicians, and the Interamerican College of Physicians and Surgeons (ICPS), a network of more than 39,000 physicians throughout the U.S. and Puerto Rico.

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CROs to Benefit from Pharma Job Cuts

Wednesday, March 7, 2007

German pharmaceutical company Bayer AG said recently it plans to cut 6,100 jobs in the wake of its acquisition of Schering AG last year. That’s the latest large layoff by a big pharma company that comes on the heels of a 10,000 employee reduction at Pfizer a month ago.

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PharmaNet’s Turnaround Right on Time

Monday, March 5, 2007

PharmaNet Development Group’s turnaround, from the ashes of the contract research organization (CRO) formerly known as “troubled SFBC,” is right on track as predicted in this space last August.

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Cuts That Hurt

Thursday, March 1, 2007

President Bush’s proposed fiscal 2008 budget includes an increase of less than 1% to the National Institutes of Health (NIH) budget overall, but a decrease of $9 million in the National Cancer Institute’s (NCI’s) budget, to $4.78 billion. The NIH comprises 27 institutes. NCI’s 2008 budget is roughly equal to how much it costs to wage war in Iraq for a fortnight.

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Phase Forward Sees 22% Jump in Revenues

Tuesday, February 6, 2007

Waltham, Mass.-based eClinical company Phase Forward reported a 22% jump in revenues to $106.6 million in 2006, compared with the previous year’s $87.1 million. In the fourth quarter of 2006, the company posted revenues of $30.2 million, a 28% increase compared with the fourth quarter of 2005.

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Pfizer Under The Gun

Tuesday, January 23, 2007

Well, Pfizer made its big news official yesterday. The company plans to cut 10,000 jobs—about 10% of the company—by the end of 2008 and close some facilities, including three research sites in the United States. The job cuts and site closings are expected to save $2 billion a year.

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