Endo is a homegrown company that has acquired its way over the last 15 years to annual revenue of $2.7 billion. Under Holveck, it announced plans to relocate its operations and 575 employees from Chadds Ford to Malvern in 2013. The question is how a new CEO might change the company once it unpacks in Malvern.
On Monday, another local company to watch, Promedior Inc., made official what it had announced in May: It relocated from Malvern to Lexington, Mass. The venture-backed Promedior may have only a dozen employees, but it was a magnet for capital, having raised $65 million since 2006.
Why the move? Promedior hired a new CEO in May, Suzanne L. Bruhn, who joined from Shire P.L.C. Though Shire's U.S. headquarters are in Wayne, Bruhn had been a senior executive in Shire's Human Genetic Therapies division in the Boston area.
Finally, on Monday, Takeda Pharmaceutical Co. Ltd. jettisoned the non-gout drug-product lines of Philadelphia's URL Pharma Inc., which the Japanese firm had acquired for $800 million in June. Takeda wanted URL for its Colcrys gout therapy, which had 2011 sales of $430 million, as a complement to Takeda's own gout drug, Uloric, which had sales of $115 million last year.
Takeda, with U.S. headquarters in Deerfield, Ill., did not disclose what price was paid for the assets it sold to Detroit-based Caraco Pharmaceutical Laboratories Ltd., a unit of India's Sun Pharmaceutical Industries Ltd.
Add it all up and I'm not sure if these events mean the region's life-sciences beaker is half-full or half-empty.
Contact Mike Armstrong
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