Home » Genzyme Expands Manufacturing Deal With Hospira
Genzyme Expands Manufacturing Deal With Hospira
Biotechnology company Genzyme Corp. said Wednesday it expanded a manufacturing deal with Hospira Inc., which will now make seven Genzyme drugs over the next five years.
Hospira will handle fill and finish manufacturing services for Genzyme drugs Cerezyme, Fabrazyme, Myozyme, Lumizyme, Thyrogen, Thymoglobulin, and Campath, plus some drug candidates. The deal was disclosed in a filing with the Securities and Exchange Commission.
The agreement will expire on June 30, 2015, or at the end of the last order the companies agreed on -- whichever comes later. The agreement will automatically be renewed for one-year terms unless one company gives at least two years' notice to the other.
In late December, the companies reached a similar agreement that covered only Cerezyme, Fabrazyme, Myozyme and Thyrogen. That deal was scheduled to end on Dec. 31, 2015, and had options for a two-year extension.
Genzyme has been dealing with manufacturing problems, including viral contamination at a manufacturing plant and tiny particles of trash in its drugs, for more than a year. The problems have cost Genzyme millions of dollars in revenue, and in May it agreed to return $175 million in "unlawful profits" from sales of drugs made at its Allston, Mass., facility.
The company also agreed to fix problems at the Allston plant and move operations for filling drug vials to a new plant.
In aftermarket trading, Genzyme stock rose 15 cents to $52.30. Shares of the Cambridge, Mass., company rose 2 percent to $52.15 during the day.
Shares of Hospira, which is based in Lake Forest, Ill., were unchanged at $58.82 aftermarket. During the day they rose 1.2 percent, and set an annual high of $58.90.
French Drugmaker on Trial for Suspected DeathsFrom Yahoo! News
Servier Laboratories, French drugmaker responsible for producing diabetes and weight loss drug Mediator, faces charges for deception in relation to the suspected deaths of hundreds of people.
Novo Acquires Xellia Pharmaceuticals for $700 MillionFrom PharmaTimes Online
Novo A/S has acquired Xellia Pharmaceuticals of Norway
Royalty Increases Bid as Elan Unveils AcquisitionsFrom PharmaTimes Online
Royalty Pharma has resurfaced to raise its bid to acquire the Irish drugmaker Elan
New Asthma Drug Offers Hope for PatientsFrom Forbes
An experimental asthma drug could give new hope to patients for whom existing medicines are not enough
Syrian Pharma Production Nearly Halted by WarFrom AFP
A shortage of foreign currency has brought production to a near halt in Syria
Camfil APC Opens Manufacturing Plant in the UKFrom Camfil
Camfil announced the grand opening of its new 40,000-sq.-ft. facility
Actavis Acquiring Warner Chilcott for $8.5BFrom AP
Actavis to buy Warner Chilcott in an all-stock transaction
Northwest Analytics Launches Next Generation Enterprise Manufacturing Intelligence SolutionFrom Northwest Analytics
NWA Focus EMI Delivers Real Time Process Intelligence and Unique Accelerating Modules - a Shared Knowledge Base and Manufacturing-Centric Collaboration
Innovative Clinical Development Partnership Announced By Quintiles and Merck SeronoFrom MarketWatch.com
Agreement creates unique strategic collaboration for development and clinical trial execution
$15 Billion Myland Offer Rejected By ActavisFrom Bloomberg.com
Actavis has rejected drugmaker Mylan Inc's cash-and-stock offer for $15 billion. They have decided to continue talks to take over Warner Chilcott Plc instead, sources have said.
- All news »