Oval Medical Technologies receives £2m investment

As reported by Business Week, the Cambridge-based Oval Medical Technologies have secured a £2 million investment.

Oval Medical Technologies are experts in the design and development of drug delivery devices on vials, prefilled syringes and autoinjectors.

The substantial investment has come from AptarGroup, who now own a 20 per cent stake in Oval. They  are recognised as the market leader in the development and manufacture of innovative drug delivery services.

The investment will enable Apta Pharma, the division of the company which specialises in working with the pharmaceutical and biotech industries, to enter new categories, broaden it’s product portfolio and overall reach.

Oval is currently working with pharmaceutical companies to help customise devise for specific therapeutic areas. Currently, they are in the process of developing a novel auotinjector which is smaller and safer to use than any other device on the market.

Speaking of the news, Oval chairman, Peter Keen stated,

“Aptar Pharma’s recognised experience and global presence will enhance Oval’s credibility within the pharmaceutical market and we are delighted that they have become our preferred manufacturing partner.

“Oval will benefit from their experience and particularly as it moves forward and prepares for the scale up of its technology. The investment will provide Oval with financial resources to develop and commercialise its autoinjector technology more rapidly thereby ensuring that it remains a leader in the field.”

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Alliance Boots Plan to Break into China

Alliance Boots Plan to Break into ChinaAs reported by the Telegraph, Alliance Boots, the pharmacy-led health and beauty retailer, is planning a major push into China in an attempt to tap into the country’s growing demand for modern medicine.

It has been reported that the company is currently considering acquiring a number of pharmaceutical companies and Chinese retail chains in a bid to tap into the Chinese marketplace.

Stefano Pessina, Executive Chairman at Boots Alliance, who is committed to finding and developing opportunities in new markets, will be travelling to Beijing and Shanghai to attend a number of meetings with potential targets, taking the company one step closer to breaking into the Chinese market.

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AstraZeneca to Cut 8,000 more Jobs

pills

Today, AstraZeneca, one of the world’s leading pharmaceutical companies, has announced that it is planning to cut a further 8,000 jobs across its global operations over the next four years as its targets cost savings of around $1.8 billion.

Having already cut about 12,600 jobs, further job cuts will be made in functions such as sales and marketing, business infrastructure, research and development, and the supply chain.

The group has a number of operations across the UK, including its head office in Macclesfield, Cheshire, and sites in Alderley Park, Loughborough, Bristol, Luton and London. An AstraZeneca spokeswoman said the company had yet to reveal how many UK positions would be affected at these sites.

 

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GSK Offers to Share Scientific Data to Wipe Out Tropical Diseases

Mosquito

In recent years, pharmaceutical companies have come under increasing pressure to change their approach to providing cheap drugs to people in the developing world. Many have faced fierce criticism for their failure to drop prices for HIV drugs while millions died in Africa and Asia, for defending patents. However, it seems the Chief Executive of GSK, Andrew Witty has a plan to fix this problem.

As reported in the Daily Telegraph, GSK is planning to share scientific data and laboratories in a bid to wipe out tropical diseases, such as malaria.  Andrew Witty, the Chief Executive of GSK who recently spent time in some of the world’s poorest continents, including Africa, said the global pharmaceutical company has a “genuine appetite to change the landscape of healthcare for the world’s poorest people”. In fact, it is estimated that Africa carries 70% of the world’s healthcare burden, but only receives 3% of healthcare resources.

In 2009, GSK announced it would create a patent pool for some of its existing products and not-for-profit-pricing on a variety of drugs for the developing world. In addition, the pharmaceutical giant plans to release 13,500 of its compounds that are believed to have the potential to be developed into new malaria treatments.

GSK will also operate an ‘Open Lab’ scheme whereby the company will open one of its laboratories in Tres Santocs, Spain, for non-GSK scientists to use to investigate treatments for other tropical diseases. The lab will accommodate 60 scientists who will benefit from £4.9m of funding from GSK to help with their research.  Speaking of this innovative ‘Open Lab’ scheme, Witty stated, Speaking before leaving for New York, Mr. Witty said: “Malaria is a dreadful disease which stalks the fields and villages of many parts of the least developed world. It has been an intractable problem for decades. Enormous progress has been made through bed net programmes, for example, but a really effective treatment has been somewhat elusive. We need to enlist the help of scientists around the world and to make it as easy as possible for that brilliant scientist, wherever they are, to find that initial spark that could be the breakthrough.”

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