Eli Lilly is cutting 163 jobs by closing its Dermira facility in Menlo Park, Calif. and selling off the latter company’s sweat drug Qbrexza, which is being acquired by Journey Medical.
BioNTech and Pfizer will boost manufacturing capacity of their Covid-19 vaccine to 2.5 billion doses by the end of 2021, BioNTech said on March 30, as the company projected sales of nearly 10 billion euros ($11.7 billion) from the product during 2021.
All of the world’s top 10 pharmaceutical companies have established substantial operations in Ireland and from 2003 to today, there has been dynamic growth of biologics manufacturing in Ireland, according to IDA Ireland.
Shares of South Korea-based Celltrion were down more than 5 percent after the company announced it received a warning letter from the U.S. Food and Drug Administration after the regulatory agency inspected a company drug manufacturing facility.
Shares of Merit Medical Systems jumped more than 9 percent after the company announced it plunked down $100 million for two product lines belonging to Becton, Dickinson and Company (BD).
X-Spine Systems, a division of Xtant Medical Systems, is shutting down a facility in Ohio and terminating 54 people between December and February 2018.
Switzerland-based Novartis is closing the company’s generic-drug manufacturing facility in Broomfield, Colo., which will cut 450 jobs over two years.
Financial concerns continue to plague ImmunoCellular Therapeutics as the company continues to look for cost-cutting measures that will provide enough resources to fund continued R&D on the company’s Stem-to-T-Cell research program.