Like most CROs, Parexel International relies on Big Pharma for most of its service revenue. But the recent explosion in biotech IPOs and venture capital deals has put a lot of money in the hands of small drugmakers, and that's changing the approach for the industry's largest contractors, a company exec said.
Some animal health companies see China as key for expansion. But the large market has its own domestic players, including Skystar Bio-Pharmaceutical. And it is seeing growth itself.
Claret Medical roped in $18 million in Series B financing to support development of its cerebral protection system for transcatheter aortic valve replacement.
Even if they don't work well or are a bit unsightly, consumer wearable health devices are undeniably trendy. A new startup is taking a more practical approach to tapping into the wearables market--creating business applications for wearable technologies like Google Glass.
Invacare has struggled to right itself for years, but thus far has failed to recover from an ongoing FDA investigation of a wheelchair manufacturing facility that first started in December 2011. Now it has undertaken its latest restructuring in an effort to return to profitability. The home and long-term medical products company started operating at a loss in 2013 due to the manufacturing difficulties.
The second round of bidding for a portfolio of aging GlaxoSmithKline drugs is about to begin, and a bevy of big names is expected to participate. The product portfolio--which includes such drugs as Paxil for depression, the antimalarial Malarone, and the fish-oil based Lovaza--brings in about £1 billion ($1.7 billion) in annual sales.
Baxter is doubling down on diabetes, not a bad bet to make given the global proliferation of the disease and its own overwhelming demand for dialyzers. The company is investing almost $300 million and hiring 200 people to expand its hemodialysis manufacturing in Opelika, AL.
Durham, NC's Clinverse has put together a $9.1 million C round, raising cash to support its technology for managing costs in clinical trials.
Medtronic has tied its long-term growth to three pillars: strong U.S. sales, double-digit growth in emerging markets and Covidien. But last quarter, the medical device giant didn't deliver on emerging market revenue growth as it encountered difficulties with distributors in India and China. It expects to return to double-digit gains in both countries this fiscal year.
Venture Capital firm Rock Health announced today that it is adding 8 digital health companies to its portfolio and partnering with three industry bigwigs, including Abbott.