→ Asia-Pacific CRO Novotech is expanding, buying out CRO Clinical Network Services as it builds up its early- to late-stage trial network in the region.
CNS’ 140 staffers in Australia, New Zealand and the US will continue to operate as an independent unit, working with the 400 staffers at Novotech in the Asia-Pacific region. No terms were provided.
CNS specializes in early phase non-oncology clinical trials across Australia and New Zealand, with Novotech specializing in “regional Asia-Pacific and global project delivery across all phases.”
“Early phase research in Australasia has seen incredible growth over the last 6-7 years,” noted CNS managing director Russ Neal. The deal “means that we are able to offer our clients access to Novotech’s Asia-Pacific experience and expertise in later phase regional or global trials. On the other hand, Novotech clients can access our highly regarded global product development and regulatory affairs consultancy team, BioDesk, based out of Washington DC, London and Australia.”
→ AbbVie may have set up some imposing barriers to anyone looking to encroach on its mega-blockbuster US market for Humira, but the walls are tumbling down fast in Europe. Today Biogen and Samsung Bioepis reported the launch of Imraldi, a Humira knockoff, in the European market. Those copies are expected to chew up the franchise in the EU, but AbbVie knows that it’s the US where it makes the big money.
→ Gamida Cell CEO Julian Adams is taking the next big step toward an IPO, with plans to sell 3.5 million shares at $13 to $15 each. That would raise about $50 million. The company plans to list as $GMDA.
→ Osmotica Pharmaceuticals is not finding a warm welcome on Wall Street. The biotech is taking quite a haircut on its IPO, selling 8.3 million shares at $7, less than half of the low end of its projected range. The company plans to list as $OSMT.
→ A stern Chinese government has imposed a $1.32 billion (9.1 billion RMB) fine on Changchun Changsheng, the vaccine maker accused of falsifying records and selling substandard vaccines — amounting to eight violations of the law, according to an investigation by the National Medical Products Administration.
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