Business

According to reports, Novartis will close its manufacturing facility at Horsham, UK, cutting 550 jobs, but will maintain its respiratory research program at the site. The company employs approximately 330 researchers in the respiratory program. Novartis opened the £42 million Respiratory Research Centre in 2001. Read a report from the BBC. … [Read more...] about Novartis to maintain respiratory research at Horsham

Almirall has launched Sativex oro-mucosal spray for the treatment of spasticity in multiple sclerosis patients in Spain. Sativex is an endocannabinoid modulator that contains THC and cannabidiol developed and manufactured by GW Pharmaceuticals. According to the company approximately 75% of the 40,000 MS patients in Spain suffer from spasticity. The product will be … [Read more...] about Sativex spray now available in Spain

According to New York specialty pharmaceutical company Hi-Tech Pharmacal, sales of its generic fluticasone propionate nasal spray increased 562% during the quarter ending January 31, 2011. Total sales for the product reached $17.9 million for the quarter. The company attributes the increase to "strong unit sales at higher average prices." Read the company's … [Read more...] about Hi-Tech Pharmacal nasal spray sales more than quintuple

AstraZeneca has announced that it will stop manufacturing the Pulmicort 100 and 200 µg/dose budesonide HFA pMDI. According to the company, the device has caused "complex manufacturing issues" and the resulting difficulty is causing it to stop production immediately. David Smith, Executive Vice President, Global Operations and IS said, “We have exhausted all … [Read more...] about AstraZeneca discontinues Pulmicort MDI

Biopharmaceutical company Insmed Incorporated has announced that its shareholders have approved a one-for-ten reverse stock split and the conversion of its Series B preferred stock into common stock. Insmed acquired Transave and its Arikace inhaled liposomal amikacin in December 2010. The company is developing Arikace for the treatment of Pseudomonas aeruginosa … [Read more...] about Insmed announces reverse stock split

Mangrove Partners, which holds approximately %5.7 of the outstanding shares of CPEX Pharmaceuticals, has announced that it will oppose the merger of CPEX with FCB, a wholly-owned subsidiary of Footstar Corporation. The merger was announced in early January 2011. According to Mangrove, the $27.25 per share offer for CPEX, which is developing Nasulin intranasal insulin, … [Read more...] about Shareholder opposes CPEX merger

Since October 1, 2010, Vectura's financial performance has exceeded the board's expectations, according to the company's interim management statement. Chief Executive Chris Blackwell attributes the improved performance to a restructured R&D program and says that Vectura expects to have more than £73m cash on hand by March 31, 2010. Read the company's press … [Read more...] about Vectura announces better than expected financial results

North Carolina specialty pharma company Inspire Pharmaceuticals has announced that it is cutting 27% of its workforce (65 jobs) after its denufosol inhalation solution for the treatment of cystic fibrosis failed a Phase 3 trial. The company says that it will drop pulmonary drug development altogether in order to focus on its opthalmic products. Read the company's … [Read more...] about Inspire drops respiratory drug program after failure of CF drug

A group of investors led by LSP Life Sciences Partners of Amsterdam has put together €5 million that device company Activaero will use for continued development of its inhalation systems. Activaero recently initiated clinical studies involving the delivery of inhaled corticosteroids (ICS) using its Akita Jet nebulizer system. Read the company's press release. … [Read more...] about Activaero gets €5 million in new funding