Wednesday, May 30, 2012
Johnson & Johnson China Investment has acquired Guangzhou Bioseal Biotech, a privately held biopharmaceutical company specializing in the design, development and commercialization of a porcine plasma-derived biologic product for controlling bleeding during surgery. Financial terms of the transaction are not being disclosed.
CRO Covance of Princeton, N.J., and BML, a Japanese laboratory testing company, will expand the Covance-BML Clinical Trial Laboratory (CB Trial Lab) in Kawagoe City, Saitama Prefecture, to enhance the capacity and capabilities in the region. The companies, which opened the lab together in 2010 as part of a five-year agreement, will launch several new expansion-related services this month.
Now that many mid-tier CROs have been acquired by either equity investment firms or other CROs and the trend has slowed, a new form of consolidation is emerging. Robust CROs are rounding out their offerings with small but strategic acquisitions to make them bigger, stronger and more complete. The ultimate goal: to continue winning lucrative strategic outsourcing agreements from sponsors.
Mochida Pharmaceutical has entered into a license agreement with Merck, through a subsidiary, relating to a portfolio of drug candidates invented by Mochida for the potential treatment for type-2 diabetes. Under the terms of the agreement, Merck has been granted a worldwide exclusive license to develop, manufacture, use and sell the potential drug candidates. Mochida will receive from Merck an upfront payment and potential development milestone payments, as well as royalties on the sales of any products derived from the collaboration. Mochida has retained an option to co-develop and co-market any products in Japan.
Merck, known as MSD outside the United States and Canada, has established an Asia research & development headquarters for innovative drug discovery and development located in Beijing, China. The new facility is part of a $1.5 billion commitment the company has made to invest in R&D in China over the next five years.