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Life Sciences

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BUSINESS
November 26, 1998 | FROM INQUIRER WIRE SERVICES
Germany's Hoechst AG and France's Rhone-Poulenc SA ended weeks of speculation yesterday by confirming they are discussing a merger to create one of the world's largest pharmaceutical companies. The two companies said in a brief statement that they are "negotiating a potential life-sciences merger" in a deal that analysts estimated would be worth at least $35.29 billion. Life sciences is a term the industry has used recently to describe makers of pharmaceuticals and agricultural chemicals.
BUSINESS
June 2, 1998 | By Donna Shaw, INQUIRER STAFF WRITER Inquirer wire services contributed to this article
The proposed merger of American Home Products Corp. and Monsanto Co. would do more than create another huge company. It would add muscle to Monsanto's push for leadership in agricultural biotechnology, an industry that seeks to revolutionize the food we eat and the medicine we take. Monsanto is one of several companies that has been easing away from the traditional chemical industry in favor of what's been termed life sciences - medicine, genetically engineered seeds, and the agricultural chemicals tailored for specific crops.
BUSINESS
June 21, 2005 | By Linda Loyd INQUIRER STAFF WRITER
Greater Philadelphia ranks third in a national study measuring the strength and economic impact of its life-sciences industries, behind first-place Boston and the San Francisco Bay area. The report, by the Milken Institute, a nonprofit economic think tank, compares Philadelphia with 10 other metropolitan areas with high concentrations of pharmaceutical, biotechnology and medical-device companies, and research institutions and health-care businesses. BioAdvance, Philadelphia's state-supported "greenhouse" that funds new life-science start-ups, asked Milken to do the study, which was released yesterday at BIO 2005, the world's largest biotech meeting, at the Convention Center through tomorrow.
BUSINESS
December 29, 2010 | By Mike Armstrong, Inquirer Columnist
The outlook for venture-capital investment sounds similar to the prognostications for the rest of the economy in 2011: better than 2010. However, the recent survey by the National Venture Capital Association contains one worrisome sign for the Philadelphia region. Life sciences may no longer be ascendant. Attach your favorite reason for why that may be. The Food and Drug Administration is approving fewer new drugs than in the past. There is continuing uncertainty over how health-care reform will affect reimbursement for drugs and diagnostic tests.
BUSINESS
May 20, 1998 | By Donna Shaw, INQUIRER STAFF WRITER
Making good on its vow to put more emphasis on life sciences, DuPont Co. said yesterday that it has agreed to buy the other half of DuPont Merck Pharmaceutical Co., its joint venture with Merck & Co. Inc., for $2.6 billion. The deal comes only a week after DuPont announced its intention to spin off its oil subsidiary, Conoco Inc., as part of "an aggressive growth plan" that would transform the Wilmington chemical giant into a pharmaceutical and agricultural-biotechnology power.
BUSINESS
January 13, 2012 | By Mike Armstrong, Inquirer Columnist
I'm not sure what the twists in the local life-sciences sector in early 2012 portend for the year as a whole. Just after New Year's, Ossianix Inc. , a two-person biopharmaceutical company in Philadelphia, attracted investment from a major European drug company called H. Lundbeck A/S . No dollar signs were attached to what was described as a "strategic investment. " But Lundbeck, which had its U.S. commercial headquarters in King of Prussia for a few months in 2006-07, is a major player in treatments for disorders of the central nervous system.
BUSINESS
October 27, 2006 | By Harold Brubaker INQUIRER STAFF WRITER
Software companies continue to be well-represented on Deloitte & Touche's ranking of the 50 fastest-growing technology and science businesses in the Philadelphia region. But this year's list includes 23 life-sciences companies - up from seven in 1997 - reflecting the growing importance of that segment to the region's economy. Also, half of the companies on the local list also found a place on Deloitte's ranking of the 500 fastest-growing tech and science firms throughout North America.
BUSINESS
February 3, 2001 | By Andrea Knox, INQUIRER STAFF WRITER
Greater Philadelphia First, an organization of business leaders, took another step away from its "old economy" roots yesterday in announcing it would team with the Pennsylvania Biotechnology Association to promote life sciences as a key to the region's future. Life sciences includes pharmaceutical and biotechnology companies, medical research and medical care. The two organizations want to "establish life sciences as a recognized industry leader on whose back Philadelphia as a region can truly grow and become a world leader," Sam Katz, chief executive officer of Greater Philadelphia First, said.
BUSINESS
March 11, 1999 | By Rosland Briggs, INQUIRER STAFF WRITER
DuPont Co. said yesterday it is seeking alliances within the pharmaceutical industry this year to strengthen its life sciences segment and it will create a separate class of stock for that division next year. The announcement came after weeks of speculation about a merger with Monsanto Corp. But instead of acquiring another company, DuPont said it wants to create partnerships to get its products into the market. It did not identify potential partners. "Critical mass is necessary to get from a research standpoint, and that's why we're moving ahead with [plans for]
BUSINESS
February 7, 2001 | By Andrea Knox, INQUIRER STAFF WRITER
The region's biotechnology community is confronting a delightful problem: How to spend the $30 million of tobacco-settlement money that Gov. Ridge earmarked in his proposed budget yesterday for an eastern Pennsylvania "life sciences greenhouse. " Never mind that the problem could become a Gordian knot, given that - at a minimum - four major research universities, about a hundred pharmaceutical and biotechnology companies, two major business groups, and two prominent economic-development organizations will want a say in how to spend the money.
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NEWS
July 16, 2015 | By Robert Moran, Inquirer Staff Writer
Mayor Nutter was set to depart Tuesday night for a six-day trade mission to Germany and Israel, to encourage companies there to do business in Philadelphia and local firms to expand into those foreign markets. He was scheduled to fly first to Frankfurt and sign a sister-city agreement. "I think there's a synergy between and among our cities. There's a very strong German American community here in Philadelphia, one of the first that was settled in the United States," Nutter said in brief remarks at City Hall before departing.
BUSINESS
September 10, 2014 | By Diane Mastrull, Inquirer Staff Writer
The list is long of the perfect accompaniments to beer: hot dogs, pizza, peanuts, and pretzels, to name just a few. Most definitely not on that list: pediococcus and lactobacillus. Consider them beer buzzkills. These are types of bacteria that often hitch a ride into breweries aboard grain. If they make their way into the beer itself, they can spoil taste by producing lactic acid, a chemical compound most commonly associated with sore muscles after exertion and first refined in 1780 from sour milk.
NEWS
July 7, 2013 | By Summer Ballentine, Inquirer Staff Writer
Rosalind Echols' teaching methods are not exactly conventional. So instead of spending the summer reading up on the scientific method to write a lesson plan, she will cruise through Alaskan waters with a team of scientists to see the process in action. Echols, a physics teacher at Science Leadership Academy in Center City, uses real-life experience in her classes. One of her favorite assignments is to ask students to study the subway to see how force causes riders to stumble if they don't grab a handbar.
BUSINESS
April 9, 2013 | By Mike Armstrong, Inquirer Columnist
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.
BUSINESS
December 28, 2012 | By Mike Armstrong, Inquirer Staff Writer
Liquent Inc., of Horsham, has been acquired by Parexel International Corp. for $72 million in cash. Founded in 1994, Liquent develops software that helps more than 200 biopharmaceutical and life-sciences companies manage their regulatory submissions and product registrations. It has about 300 employees at offices in the United Kingdom, Germany, and India, and about 100 at its Montgomery County headquarters. Parexel, of Waltham, Mass., also provides a variety of services to the life-sciences industry, including clinical-trials management, biostatistical analysis, and medical communications.
BUSINESS
December 18, 2012 | By Mike Armstrong, Inquirer Columnist
The last seven days of news from the region's life-sciences industry was a mix of messages involving expansion, succession, relocation, contraction, and conclusion. Iroko Pharmaceuticals L.L.C. cemented its reputation as a company to watch Wednesday when it celebrated the opening of its new offices at the Navy Yard in South Philadelphia. Begun by veterans of the region's Big Pharma companies, Iroko has grown over the last five years to employ about 60 and could triple the number working in its new 56,412-square-foot building over the next few years.
BUSINESS
November 25, 2012 | By Mike Armstrong, Inquirer Staff Writer
The Dutch company Royal DSM N.V. is an example of a global giant that has been able to change its business identity. The "DSM" in the name stands for "Dutch State Mines," but that's about the only remnant of its 1902 beginnings as a state-owned coal-mining company. After World War II, the company expanded into the industrial chemicals business and wound up jettisoning its mining operations. Privatized by the Netherlands in 1989, Royal DSM management sensed the need for another change, said Feike Sijbesma, its current chairman and CEO. Between 2000 and 2010, Royal DSM remade itself again into a life- and materials-sciences firm to reduce its dependence on petroleum.
NEWS
March 12, 2012 | By Michael A. Palis, Joseph Martin, and Benedetto Piccoli
Claims that folding Rutgers-Camden into Rowan University will greatly increase area research and development are inflated at best and lack a true accounting of existing resources in South Jersey and how they should be built upon. The merger committee's report necessarily focuses on Cooper Hospital in Camden and the medical school that will open this fall. Through sleight of hand, suddenly a whole portion of the state's flagship research institution, Rutgers University, must be wrested away to make this new entity work.
BUSINESS
January 13, 2012 | By Mike Armstrong, Inquirer Columnist
I'm not sure what the twists in the local life-sciences sector in early 2012 portend for the year as a whole. Just after New Year's, Ossianix Inc. , a two-person biopharmaceutical company in Philadelphia, attracted investment from a major European drug company called H. Lundbeck A/S . No dollar signs were attached to what was described as a "strategic investment. " But Lundbeck, which had its U.S. commercial headquarters in King of Prussia for a few months in 2006-07, is a major player in treatments for disorders of the central nervous system.
BUSINESS
December 8, 2011 | By David Sell, Inquirer Staff Writer
Itty-bitty bytes of code and mini molecules of future drugs are coming together in a mother lode of data for scientists to examine in a project led by IBM and three other companies in coordination with the National Institutes of Health. Collaborating with Bristol-Myers Squibb, DuPont, and Pfizer, IBM will announce Thursday that it is providing a database of more than 2.4 million chemical compounds extracted from about 4.7 million patents and 11 million biomedical journal abstracts from 1976 to 2000.
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