• SKIP TO CONTENT
  • SKIP NAVIGATION
  • Patient Resources
    • COVID-19 Patient Resource Center
    • Clinical Trials
    • Search Clinical Trials
    • Patient Notification System
    • What is Clinical Research?
    • Volunteering for a Clinical Trial
    • Understanding Informed Consent
    • Useful Resources
    • FDA Approved Drugs
  • Professional Resources
    • Research Center Profiles
    • Clinical Trial Listings
    • Market Research
    • FDA Approved Drugs
    • Training Guides
    • Books
    • eLearning
    • Events
    • Newsletters
    • White Papers
    • SOPs
    • eCFR and Guidances
  • White Papers
  • Trial Listings
  • Advertise
  • COVID-19
  • iConnect
  • Sign In
  • Create Account
  • Sign Out
  • My Account
Home » pSivida plans to consolidate all R&D in current U.S. facility

pSivida plans to consolidate all R&D in current U.S. facility

July 27, 2016
CenterWatch Staff

pSivida, a leader in the development of sustained release drug delivery products primarily for eye diseases, is implementing a site consolidation plan in support of its product development program and plans to conduct all future research and product development in a single location. Subject to an employee consultation process required by local U.K. law, pSivida proposes to close its research facility in Malvern, U.K. and locate all research and product development activities in the company's state-of-the-art, cGMP facility in Watertown, Massachusetts.

Dr. Paul Ashton, president and CEO of pSivida, said, "We look forward to the seamless consolidation of the Durasert and Tethadur R&D work being done in our U.K. and our U.S. facilities in a single location. We believe this restructuring will focus our R&D efforts and facilitate product development while reducing operating expenses."

pSivida expects the site consolidation plan will reduce pre-tax operating expenses by approximately $900,000 annually, beginning in the second quarter of fiscal year 2017, ending December 31, 2016. pSivida estimates that it will record approximately $680,000 of charges associated with the plan, of which approximately $550,000 is estimated to be cash expenditures. Actual charges may vary due to various factors, including currency exchange ratios and the outcome of the consultation process. The charges are expected to be recorded primarily in the first quarter of fiscal 2017, ending September 30, 2016, with the site consolidation expected to be substantially completed during that quarter, subject to local U.K. labor requirements.

Upcoming Events

  • 16Feb

    Fundamentals of FDA Inspection Management: Reduce Anxiety, Increase Inspection Success

  • 21May

    WCG MAGI Clinical Research Conference – 2023 East

Featured Products

  • Spreadsheet Validation: Tools and Techniques to Make Data in Excel Compliant

    Spreadsheet Validation: Tools and Techniques to Make Data in Excel Compliant

  • Surviving an FDA GCP Inspection

    Surviving an FDA GCP Inspection: Resources for Investigators, Sponsors, CROs and IRBs

Featured Stories

  • SurveywBlueBackground-360x240.png

    Sites Name Tech Acceptance as Essential Factor in Selection of Sponsors, Survey Finds

  • TrendsInsights2023-360x240.png

    WCG Clinical Research Trends and Insights for 2023, Part Two

  • TimeMoneyEffort-360x240.png

    Time is Money and So Is Effort, Budgeting Experts Say

  • TrendsInsights2023A-360x240.png

    WCG Clinical Research Trends and Insights for 2023, Part Three

Standard Operating Procedures for Risk-Based Monitoring of Clinical Trials

The information you need to adapt your monitoring plan to changing times.

Learn More Here
  • About Us
  • Contact Us
  • Privacy Policy
  • Do Not Sell or Share My Data

Footer Logo

300 N. Washington St., Suite 200, Falls Church, VA 22046, USA

Phone 617.948.5100 – Toll free 866.219.3440

Copyright © 2023. All Rights Reserved. Design, CMS, Hosting & Web Development :: ePublishing