Thursday, April 27, 2023 Daily Archives

Novartis sale of IL plant part of ‘strategic and opportunistic’ CGT biz

Novartis has offloaded the former AveXis gene therapy facility in Libertyville, Illinois to Bristol Myers Squibb to support its CAR-T portfolio. Novartis added the Libertyville plant through the acquisition of AveXis in May 2018, and used it to support the commercial launch of one-time spinal muscular atrophy (SMA) gene therapy Zolgensma (onasemnogene abeparvovec). But in November last year, the firm announced the plant was to be closed with 275 jobs at risk as part of a restructure that would consolidate Zolgensma…

Boehringer Ingelheim opens $386m German R&D plant

The Biologics Development Center (BDC) will develop antibodies and therapeutic proteins and manufacture substances for clinical trials, says Boehringer Ingelheim. The €350 million ($386 million) figure is Boehringer Ingelheim’s largest single investment in Germany to date and the company said the Biberach an der Riß,  plant will account for around 50%of the firm’s research pipeline. “With state-of-the-art laboratory and process equipment and a team of highly skilled scientists, the BDC will have the necessary capabilities to develop and produce drug…

Serum Institute to inject another $150m into Biocon

Biosimilar manufacturer Biocon Biologics will receive an additional investment of $150 million from Serum Life Sciences. The two Indian biopharma giants have announced they will withdraw from the original equity structure concerning their strategic alliance announced in September 2021. The deal saw the Serum Institute of India, via its subsidiary Serum Institute Life Sciences Private Limited, take a 15% stake in Biocon valued at around $4.9 billion. Biocon had received authorization from the National Company Law Tribunal (NCLT) in Karnataka,…