February 16, 2005 |
Reynold Panettieri Jr. is sitting pretty, flush with drug-company money for his research on asthma at the University of Pennsylvania. Edward Garvey, on the other hand, is miffed, having lost his pharmaceutical marketing job in New Jersey because of corporate cost cutting. These are the clashing realities of the global pharmaceutical business today, with the Philadelphia region one of its hubs. Companies are gambling ever bigger sums of money on blockbuster products, with painful consequences when they falter.
March 28, 2011 |
Big Pharma has been shedding all sorts of assets in recent years - human as well as intellectual property. While that poses big risks for an area like Philadelphia that is home to so many large pharmaceutical companies, it can be an opportunity for new company formation. An announcement last week involving brand-name GlaxoSmithKline P.L.C. and no-name AltheRx Inc. shows how. Backed by a single, unidentified private investor, AltheRx acquired solabegron, a compound that GlaxoSmithKline had been studying as a treatment for overactive bladder in women and irritable-bowel syndrome.
January 29, 2012 |
BioClinica Inc. is a bit unusual these days in the region's pharmaceutical industry. It is hiring. The company creates computer software to read and measure images, such as brain scans of tumors, and to digest the huge amounts of data related to clinical studies that drug companies sponsor. The company had 522 employees at the end of 2011 and hopes to add 55 by year's end, with most of the current job listings pegged for headquarters in Newtown, Bucks County, and its site in Audubon, Montgomery County.
May 9, 2005 |
In the spring of 1999, Osagie Imasogie had an idea for a new kind of venture-capital firm. Instead of investing cash in promising young companies, the "currency" would be the drug compounds and technologies that big pharmaceutical companies had abandoned. That intellectual property may or may not be the next Viagra or Lipitor, but it could be of great interest to a smaller biotechnology firm. A longtime pharmaceutical executive, Imasogie talked over his idea with a friend, Tachi Yamada, at SmithKline Beecham, where Imasogie had formerly worked.
March 7, 2005 |
It's the 900-pound gorilla of all science fairs, a giant four-day schmoozefest for the biotechnology industry, and a Who's Who of pharmaceutical and biotech luminaries from around the country and world. The Biotechnology Industry Organization's annual convention is coming to Philadelphia in June, bringing with it 18,000 people. During the four-day conference, which opens June 19, delegates will ponder the fate of embryonic stem cell research, drug safety and the FDA's role, and whether protein-based biotech drugs can be safe and effective if made by lower-cost generic-drug makers.
October 26, 2008 |
For decades, investors turned to big pharmaceutical companies to ease the pain of a tumultuous stock market. Shares in Merck & Co. Inc., GlaxoSmithKline P.L.C. and Wyeth buffered any body blows the Dow Jones industrial average delivered. Those days are long gone. In recent years, Big Pharma - usually defined as the multinational companies with sprawling tentacles in drug research, development, manufacturing and marketing, as opposed to smaller firms usually concentrated on research - has been staring down $115 billion worth of drug-patent expirations.
June 20, 2005 |
For big drug companies in Philadelphia and around the world scrambling for profitable new products, biotechnology may look like a savior. But there are many routes to salvation. As the biotech industry convenes in Philadelphia this week, the hot topic may not be science but finance. At stake may be Big Pharma's domination of the business. "How are we going to take full advantage of biotechs, and how are they going to take full advantage of us?" asked Tadataka Yamada, the Upper Merion-based research chief of GlaxoSmithKline P.L.C.
June 12, 2008 |
Scientists and other research workers at GlaxoSmithKline P.L.C.'s King of Prussia and Collegeville facilities are getting their pink slips this week. The British drugmaker, which has a U.S. headquarters in Philadelphia, is cutting 2 percent of its 17,000 global research-and-development employees, or about 350, with about half of them from this region and from the other U.S. headquarters in Research Triangle Park, N.C., spokeswoman Melinda Stubbee said yesterday. The rest of the cuts will come from facilities in the United Kingdom and Italy.
April 9, 2013 |
For 50 years, the University City Science Center has been where scientists and start-ups have toiled to build the next generation of Philadelphia-area companies. But to hear science center president and CEO Stephen S. Tang , what would really help nurture that entrepreneurial soup would be if a big life-sciences company were to put its headquarters or research operations in West Philadelphia. Given that several of the biggest drug companies locally have already made long-term commitments elsewhere, there is nothing on the horizon presently.
June 11, 2008 |
Scientists and other research workers at GlaxoSmithKline PLC's King of Prussia and Collegeville facilities are getting their pink slips this week. The British drugmaker, which has a U.S. headquarters in Philadelphia, is cutting 2 percent of its 17,000 global research and development employees, or about 350, with about half of them in this region and at the other U.S. headquarters in Research Triangle Park, N.C., spokeswoman Melinda Stubbee said....