Wednesday, March 11, 2015
Impax Laboratories, a Hayward, Calif.-headquartered, technology-based specialty pharmaceutical company, is cutting about a quarter of its R&D work force—42 of a total of 49 job cuts—as part of an R&D reorganization and prioritization of project portfolios within the generic and brand businesses.
Hayward, Calif.-based Impax Laboratories will acquire Tower Holdings, including operating subsidiaries CorePharma, based in Middlesex, N.J., Amedra Pharmaceuticals, based in Horsham, Penn., and Lineage Therapeutics, also based in Horsham, for $700 million in cash, subject to certain customary purchase price adjustments.
Impax Laboratories, a technology-based specialty pharmaceutical company, will implement a reduction in its workforce as a part of efforts to streamline its operations in response to the need to reduce expenses and adapt to changing market conditions. The reduction primarily affects manufacturing operations and is intended to reduce Impax’s cost structure and scale the organization appropriately for its current needs.
Jia-Hwa Fang, Ph.D., has joined SRI’s biosciences division as director of clinical manufacturing. In this new role, he will lead a team to transfer and scale-up R&D, Good Laboratory Practice (GLP), and pilot formulations for early stage clinical
trial materials in compliance with Good Manufacturing Practices (GMP). He will be responsible for developing technical, quality, and project specifications for studies in SRI’s pharmaceutical clinical manufacturing facility.
Hayward, Calif.-based Impax Laboratories said the Parkinson’s drug it in-licensed from GlaxoSmithKline last year—its second attempt at an extended-release version of caribidopa-levadopa—beat out the standard of care for controlling a key symptom of the disease in a late-stage study, according to FiercePharma.