PHARMACY

Teva announced increased sales for Q3

BY Drew Buono

JERUSALEM Teva recently announced its third-quarter financial results, which ended on Sept. 30.

The company increased its net sales by 4 percent, going from $2.286 billion in the third quarter of 2006 to 2.366 million in the third quarter of 2007. The company’s net income, though, decreased by over $80 million during the same quarter in 2006 and 2007.

These numbers might be due to Teva’s North American sales, which decreased by $50 million during the third quarter of 2006 as compared to 2007.

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PHARMACY

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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