ERBAMONT WILL MANUFACTURE ADRIAMYCIN IN THE U.S.
ERBAMONT WILL MANUFACTURE ADRIAMYCIN IN THE U.S., following the purchase of Summa Medical's manufacturing operation in Albuquerque, New Mexico for $ 8 mil. "Summa Manufacturing Corp. will manufacture Erbamont's principal anti-cancer products, including Adriamycin (doxorubicin), currently manufactured overseas," Erbamont stated in an April 11 press release. At the same time, Summa will continue to develop its third-party injectables manufacturing business. The $ 8 mil. acquisition price includes $ 500,000 in production credits over the next three years to support Summa's expanding biotechnology production, parent Summa Medical noted in a next-day release. "Erbamont expects the new facility to provide Adria Labs, its North American operating division, with expanded capabilities to accelerate the development, registration and production of its growing injectable hospital products businesses in North America," the company said. "During 1988-89, Adria expects to expand the facilities and employment at Summa, which currently employs 50 people at Albuquerque." Erbamont will be shifting some of the production of its flagship product, Adriamycin, to North America as the anticancer agent's U.S. patent protection winds down. The product patent for doxorubicin expires in June, however, the company claims that its process patent, which expires in 1991, excludes others from marketing doxorubicin products until then. Worldwide sales of Adriamycin were about $ 220 mil. in 1987 and made up over one-third of Erbamont's drug business, according to the company. Summa explained its sale of the manufacturing facility as part of the company's recent focus on product development and the emphasis on strategic alliances with large drug companies. Under an exclusive licensing agreement with Roche subsidiary Medi-Physics, Summa is developing a blood clot imaging agent. At the end of 1987, Summa completed the sale of 10 radiopharmacies to Medi-Physics. In a separate April 11 development, Dow Chemical announced the purchase of "more than 2%" of the outstanding shares of Erbamont parent Montedison. "Dow has purchased the shares as part of the corporation's ongoing investment portfolio," Dow said. Montedison, which includes chemical, pharmaceutical, energy and services operating units, is 42% controlled by the Ravenna, Italy-based Feruzzi group.
You may also be interested in...
Newly released Medicare Part D data sheds light on the sales hit that branded pharmaceutical manufacturers will face when the coverage gap discount program gets under way in 2011
FDA appears headed for a showdown with clinicians and the pharmaceutical industry over the proposed new clinical trial endpoints for acute bacterial skin and skin structure infections, the guidance's approach for justifying a non-inferiority margin and proposed changes in the types of patients that should be enrolled in trials
Specialty drug maker Shire has quietly begun scouting deals with a brand-new $50 million venture fund, the latest of several in-house investment arms to launch with their parent company's pipelines, not profits, as the measure of their worth