August 2008

Aptuit Founding CEO Resigns

Thursday, August 28, 2008

Greenwich, Conn.-based Aptuit, a contract research organization (CRO), named Timothy (Tim) C. Tyson, a pharmaceutical industry veteran, as executive chairman and acting CEO, replacing Michael A. Griffith, the company’s founder and CEO since 2005. The company said Griffith resigned to pursue other opportunities.

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RadPharm Appoints new CIO

Wednesday, August 27, 2008

RadPharm appointed Steven F. Owens to the newly created position of chief information officer. In this role, Owens will provide leadership to IT and development projects that enhance RadPharm’s technical capabilities and business processes. Before joining RadPharm, Owens was senior director of R&D at the Center for Imaging and Innovation.

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Oncology Accounts for Most Registered Clinical Trials, Rheumatology Sees Growth

Tuesday, August 26, 2008

Oncology accounted for the most registered clinical trials as of Nov. 1, 2007, according to a recent review of U.S. trials data on The analysis, conducted by Nature Reviews, examined two years of data for industry-sponsored phase II through phase IV trials, including trials that were first registered between October 2005 and September 2007. Oncology, central nervous system disorders, cardiology, infectious diseases, endocrinology and respiratory diseases accounted for almost two-thirds of all protocols and more than two-thirds of all sites. Rheumatology saw the highest relative growth in the number of trials, making rheumatoid arthritis the third most common disease for clinical trials.

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PDS Acquisition Boosts Bio-Imaging Earnings

Thursday, August 21, 2008

Newtown, Pa.-based contract research organization (CRO) Bio-Imaging Technologies released second quarter financial results that show a 61% increase in service revenues compared with the same period a year ago. Revenues hit $15.2 million for its second quarter compared with $9.5 million for the same period last year. This most recent earnings report reflects the operating results of Bio-Imaging’s March 2008 acquisition of Phoenix Data Systems (PDS). Bio-Imaging’s backlog increased 44.6% to $115.8 million, of which $17.2 million is attributable to PDS. Based on Bio-Imaging Technologies success during the first half of the year, president and chief executive officer Mark Weinstein said the company is increasing its 2008 service revenue guidance to $53 million to $56 million, up from $53 million to $55 million.

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China-based WuXi Reports Successful Second Quarter

Tuesday, August 19, 2008

A year after going public on the New York Stock Exchange, Chinese contract research, development and manufacturing company WuXi PharmaTech reported second quarter net revenues of $70.8 million—a 134% increase compared with the same period last year.

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Encorium Releases Q2 Financials, Optimistic About Q3

Friday, August 15, 2008

Contract research organization (CRO) Encorium released its Q2 earnings report after the bell Thursday, reflecting an increase in net revenue for Q2 2008 over Q2 2007 but a decrease in net revenue for the six months ended June 30, 2008 compared with the same period in 2007. Net revenues for the first six months of 2008 dropped to $15.7 million from $16.1 million for the same period in 2007. The company also reported a net loss of $3.5 million, or $0.17 per share, for the first six months of 2008 compared with a net loss of $738,000, or $0.04 per share, for the first six months of 2007.

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