FDA approves Watson’s Goa, India, facility
CORONA, Calif. Watson Pharmaceuticals’ request to use a Goa, India, facility for pharmaceutical production was approved by the Food and Drug Administration, Forbes.com reported.
Watson, a generic drug developer of over-the-counter and prescription medications, did not disclose which products would be created at the overseas facility. The company also said that it will continue to push for other product manufacturing approvals over the next several months.
Watson also stated that they anticipate a development of more than 1 billion tablets and capsules annually at the Goa plant for the U.S. market by early 2008.
In the meantime, shares of Watson closed at $30.59 on Wednesday.
Hutchinson to join Renovo; Vernalis suffers his loss
BERKSHIRE, England Renovo has created a new position entitled chief medical officer and executive board director for John Hutchinson, the former developmental developed for Vernalis.
Renovo has just recently signed a deal with Shire to co-develop a new anti-scarring drug, Juvista. The deal could be worth as much as $825 million with sales estimated to generate as much as $4 billion per year.
Hutchinson leaves Vernalis at a difficult time, as the company is dealing with a decision from U.S. regulators to delay a decision on its menstrual migraine drug Frova for the second time.
Renovo said that they have offered Hutchinson equity stake in the company.
Gene Logic to search for secondary paths for Merck pipeline
GAITHERSBURG, Md. Gene Logic has entered into a drug repositioning and development agreement with Merck Serono, to seek other development paths for several of Merck Sereno’s drug candidates.
The drug candidates, which were discontinued or de-prioritized in clinical trials for reasons other than safety would give payments to Gene Logic based on success milestone and royalties, although these would be discounted to account for Merck Serono’s contribution.
If Gene Logic identifies a new potential therapeutic use that Merck Serono chooses not to develop, they can receive an exclusive license for the drug and would then pay Merck Serono royalty and success-based milestone payments.