Wednesday, July 8, 2015
AstraZeneca has formed collaborations with the Montreal Heart Institute (MHI) in Quebec, Canada, to search the genomes of up to 80,000 patients for genes associated with cardiovascular diseases and diabetes, their complications and treatment outcomes, and with Abbott to develop companion diagnostic tests to identify patients with severe asthma who are most likely to benefit from the investigational biological therapy tralokinumab.
Pharmaceutical Product Development (PPD) has appointed Jon Denissen, Ph.D., as vice president of good manufacturing practices (GMP) laboratories. Denissen brings over 25 years of experience in the pharmaceutical and CRO industries. He is based in PPD’s GMP lab facility in Middleton, Wis.
Abbott has entered into an agreement to purchase Topera, a Menlo Park, Calif.-based, private, venture-backed medical device company focused on developing innovative electrophysiology technologies to improve the diagnosis and treatment of atrial fibrillation, one of the most common heart rhythm disorders in the world. Through this acquisition, Abbott enters the catheter-based electrophysiology market, an approximately $3 billion global market that has been growing annually at double-digit rates.
Abbott will sell its non-U.S. developed markets branded generics pharmaceuticals business to Mylan for 105 million shares, or approximately 21%, on a fully diluted basis, of a newly formed entity that will combine Mylan’s existing business and Abbott’s developed markets pharmaceuticals business. The new entity will be a publicly traded company. This represents a value of approximately $5.3 billion based on Mylan’s closing stock price on Friday.