Jubilant Life Sciences declared its financial results for the second quarter of FY 2012 in which its revenue stood at
1,048 crore, up 22 percent year-on-year (YoY) and 11 percent quarter-on-quarter. In the quarter ending September 30, 2011, the company's earnings before interest, taxes, depreciation, and amortization (EBITDA) was
241 crore up 58 percent YoY with margins at 23 percent, as compared to 17.8 percent in Q2 FY11. Net profit for the quarter grew eight percent YoY and stood at
79 crore, after accounting for
43 crore mainly due to unrealized foreign exchange loss in Q2 FY12.
During the quarter, the company signed a long term supply in life science ingredients business with a leading international life sciences company. The total value of this contract is in the range of
520 crore ($80-100 million), to be supplied in three years from the first quarter of FY13.
Jubilant also signed a multi-year contract in contract manufacturing organization business with a leading US pharma company to manufacture a prominent over-the-counter women's health and personal care product in North America.
It has recently entered into collaboration with Norgine, a leading European speciality pharmaceuticals company under its integrated drug discovery model, to provide pre-clinical candidates for developing multiple targets in gastrointestinal diseases for an initial period of three years.
Jubilant Life Sciences recently commissioned its manufacturing facility at the special economic zone in Gujarat with the commencement of commercial production of 10,000 TPA niacinamide and an intermediate, 3-cyanopyridine, in order to cater to the growing global needs of nutrition ingredients.
GVK forms drug discovery alliances
GVK Biosciences entered into a partnership with the Prevention of Organ Failure (PROOF) Center of Excellence, focusing on biomarker development for heart, lung and kidney failure.
The PROOF center, a not-for-profit center of excellence for commercialization and research that is funded by the Government of Canada, has licensed the popular GVK BIO Online Clinical Biomarker Database (GOBIOM) to help evaluate the commercialization potential of the PROOF center's biomarkers for heart, lung and kidney disease.
The GOBIOM database is a comprehensive collection of all the clinically evaluated, exploratory and preclinical biomarkers associated with different therapeutic areas reported in global clinical trials, clinical and preclinical studies.
GVK Biosciences has also entered into a drug discovery alliance with the Moulder Center for Drug Discovery Research at Temple University. As part of the multi-year integrated drug discovery collaboration, GVK BIO will be responsible for the target validation, lead identification and lead optimization of small molecules in selected therapeutic areas, including cardiovascular, metabolic, and central nervous system disorders.
PPD named best CRO by Scrip
Pharmaceutical Product Development (PPD) has been named the best contract research organization by Scrip Intelligence. It also honored PPD for deploying the best technological development in clinical trials for the innovative technology solution, created in collaboration with the Microsoft Corporation.
This improves the efficiency of managing risk evaluation and mitigation strategy (REMS) programs mandated by the US Food and Drug Administration.
Scrip presented both the awards to PPD at the seventh annual Scrip Awards ceremony on November 3 in London. PPD was recognized for its expertise and innovation in helping clients develop life-changing medical treatments. Launched in 1985 as a one-person consulting firm, PPD today is one of the world's leading contract research organizations.
The PPD REMS solution is a first-of-its-kind technology platform that integrates, manages and tracks all REMS resources along with data and information. It is based on the Microsoft Amalga Unified Intelligence
System and Microsoft HealthVault. The Scrip Awards acknowledge achievements across a broad range of areas in the pharmaceutical
While the Microsoft Amalga Unified Intelligence System is a data aggregation platform that gives healthcare professionals access to information they need when they need it, the Microsoft HealthVault is a personal health application platform that lets consumers gather, store and share health information online.
Quintiles acquires Advion BioServices
Quintiles closed the previously announced agreement to acquire Advion BioServices, a premier US-based bioanalytical laboratory. Now known as Advion Bioanalytical Labs the group will offer good laboratory practice pharmacokinetic/pharmacodynamic testing and other services to biopharma companies worldwide. Quintiles' ability to provide customers with actionable early-stage data to make development decisions faster has taken a significant step forward with the closing of this agreement.
While Advion BioServices has more than 180 employees at facilities in Ithaca, Manassas, and Indianapolis in the US, Quintiles' network has more than 20,000 engaged professionals in 60 countries. Quintiles Global Laboratories supports global and regional trials in almost every country in the world with wholly owned facilities in the US, Europe, South Africa, India, China, Singapore and Japan, and a tightly coordinated network of affiliate laboratories in Argentina and Brazil.
Covance CLS ranks first in survey
Covance's central laboratory services (CLS) was ranked first in an independent global survey of 550 physician investigators participating in clinical trials. The majority (54 percent) of the study participants named Covance central laboratory services as their “most preferred” central laboratory, with investigators citing Covance three times more often than the nearest competitor. Investigators also reported having the “best overall relationship” with Covance, rating it 8.4 on a scale of 1 to 10.
Survey results showed that factors that lead to a strong relationship between investigators and a central laboratory include effective communication, the laboratory's reputation for reliability and quality, and easy-to-use collection kits. Respondents ranked Covance first in all of the key performance metrics, from customer service to timely and accurate reporting.
Parexel partners with UCB
Parexel International Corporation has been selected as one of two strategic partners by UCB, a global biopharmaceutical company, to provide clinical
development services worldwide. Parexel will work with UCB, to drive innovation and accelerate development, as well as to increase productivity
and cost effectiveness. The agreement is effective for all of UCB's new clinical study programs on a global basis.
With the help of the strategic partnership, UCB will receive the benefits of Parexel's proven clinical processes through all phases of development, which are supported by its market-leading eClinical technology platform. UCB will also leverage Parexel's consulting expertise in regulatory affairs and commercialization. Mr Iris Loew-Friedrich, executive vice president and chief medical officer of UCB said that Parexel would be instrumental in helping UCB expand their global drug development activities in Asia.
TCG and JSW collaborate
TCG Lifesciences (TCGLS) entered into a strategic agreement with JSW Lifesciences, an EU-based full services contract research organzation, to strengthen its R&D offerings in the area of central nervous system. This agreement will enable TCGLS and JSW to offer specialized preclinical and early clinical development services in the neuroscience domain to their combined customer base.
Mr Swapan Bhattacharya, managing director, TCGLS, said that this deal will add a new dimension to TCGLS' present offerings in the integrated drug discovery domain. Speaking about the importance of capitalizing on the 'India benefit' factor, Dr Manfred Windisch, chief executive officer, JSW Lifesciences, said that this opportunity would allow both companies to grow.
MITCON enters CDM training
MITCON, a leading consultancy group from Pune, forayed into training in the clinical data management industry through its pharma and biotechnology divison. MITCON's managing director, Dr Pradeep Bavadekar said that MITCON is committed to provide quality industrial job oriented training at an affordable cost.
MITCON has so far conducted 15 batches of clinical research training and more than 70 students have got career opportunities due to this training. Considering the huge demand in the upcoming CDM area, MITCON has identified Pune-based Phoenix Progressive Certifications Enterprise, as their associate partner for providing clinical data management training.