CRO conglomerate PRA Health Sciences pulled off a $306 million IPO, joining the growing list of Big Pharma contractors cashing in on Wall Street after years under private equity stewardship.
LabCorp is diversifying. The big diagnostics player has swooped in to buy the contract research organization Covance for $6.1 billion in cash and stock, confident that a combination of its expertise with Covance's approach to contract drug development will make for a successful merger.
Ventana and Quintiles are partnering up to provide companion diagnostic testing services in China for early clinical trials. China is among a few countries that requires patient samples used in clinical trials to be tested domestically for inclusion in the country's approval process.
More and more device companies are turning to contract research organizations for assistance in managing their clinical trials, something that is commonplace in the biopharma world. The first ever Partnerships in Medical Device Trials Conference was recently held in Chicago.
On the whole, the CRO industry is increasing its budgets for merit-based pay increases, according to a survey.
With the spiraling amount of time and money needed to bring a drug to market weighing heavy on their Big Pharma clients, CROs have invested in efficiency boosting technology to gain a competitive edge. And the trend is tipped to continue, with an analyst predicting CROs will be at the forefront of developments in IT and genomics in 2014.
PolyTherics and Antitope have completed a merger of their equally sized biopharma services businesses in the U.K., seeking to provide technology and support to the pack of drugmakers in the hunt for biologics such as antibody-drug conjugates.
Another clinical trial search engine rolled out this week with talk of making it easier for patients to find studies, and vice versa. But the website, MyClinicalTrialLocator, finds itself in an increasingly congested market filled with CROs, in-house Big Pharma platforms and niche players.
Mytrus has found a new patron as the startup advances mobile apps for clinical trials. InVentiv Health, a contract research organization (CRO) for pharma and device companies, has snapped up an equity stake in Mytrus and plans to partner on commercializing the startup's mobile apps.
Quintiles made it official on Feb. 15, filing to raise up to $600 million in an IPO after months of rumors and speculation.