Germany's leon-nanodrugs GmbH announced the closure of its €18.5 ($20.4 million) Series A preferred stock offering. The company develops oral and parenteral reformulations of generic active pharmaceutical ingredients using its patented MJR nanotechnology platform.
When drugmaker Pozen got a second FDA complete response letter tied to issues with its API supplier, the company insisted it had already done everything the agency asked.
Swedish contract drug developer Recipharm has signed a deal with Virginia's Synthonics, investing in the biotech and lending its expertise in the development of new compounds.
Indonesia drugmakers expect to emerge from a long period of a depressed currency to almost double industry sales this year, according to one of the pharma leaders.
After issuing an import alert last year for an IPCA Laboratories API plant in India where employees had been falsifying drug testing results and deleting failed tests, the FDA began looking at its operations further upstream and has now banned products from two of IPCA's finished product facilities.
India's government has threatened to place restrictions on imports of nonessential items, including pharmaceuticals, from China if it does not ease some of its "protectionist tendencies" toward India products.
Norwegian drugmaker Weifa figures its consumer health biz and its contract active pharmaceutical ingredient operations both have a better shot at growth if they go their separate ways. To make that happen, Weifa plans on spinning the API business off into a contract manufacturing operation, with its first contract to make the APIs for Weifa.
The FDA has cited a Novacyl active pharmaceutical ingredient (API) manufacturing plant in Thailand with a warning letter after finding some of the same issues there that it had uncovered at the company's facility in China.
India drug authorities are working on plans to increase the nation's capacity to produce its own bulk drugs in an effort to reduce its drug industry's dependence on imports, mainly from China.
Sixty-four jobs are at risk as a result of AMRI's proposal to close an API plant in Wales. A final decision for the plant will come after a consultation with employees and discussions on ways to reduce "redundancies" at the former Excelsyn facility.