PHARMACY

Pfizer to invest in Israeli incubator

BY Allison Cerra

NEW YORK Pfizer will be investing in Israel’s Meytav Technological Enterprises Innovation Center, according to reports.

Pfizer will invest in and establish a second incubator in Galilee, according to Israeli business daily Globes. Israel, the Globes report said, would have to adjust its intellectual property protection laws before international pharmaceutical companies would launch activity there.

Meytav executives will be responsible for the joint activity with Pfizer.

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Sandoz completes $10 million expansion of N.C. facility

BY Drew Buono

WILSON, N.C. Sandoz recently completed the major phase of its Wilson, North Carolina expansion when over 50 employees moved into a new 30,000 square foot building.

Over 65 new jobs are expected to be created in Wilson as a result of the $10 million expansion. The positions will be filled by pharmaceutical scientists and analytical chemists and will bring the total of employees at the site to almost 480.

“The new laboratories present an excellent workplace and opportunity for top scientists to help us continue to growth in the U.S.,” said Bernhard Hampl, president and chief executive officer of Sandoz. “The new products developed at the site will be the basis for the future growth of the Wilson site.”

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Pfizer, Taisho sign letter of intent over schizophrenia drug candidate

BY Drew Buono

TOKYO and NEW YORK Taisho Pharmaceuticals and Pfizer have concluded on a letter of intent with regard to Taisho’s new drug candidate for schizophrenia, TS-032.

The drug is currently in the pre-clinical stage and the letter of intent relates to a proposed license agreement regarding rights for development and commercialization.

Through the agreement, Taisho will grant exclusive development and commercialization rights outside Japan for the drug to Pfizer. Once the agreement is signed, Taisho will receive an initial payment of $22 million as well as milestone and royalties linked to the development and sales of the drug.

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