Pharma & Biotech
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Madrigal Pharmaceuticals Expands As Breakthrough Drug Fuels Growth
West Conshohocken’s Madrigal Pharmaceuticals is relocating its headquarters to accommodate rapid expansion, reports John George for The Philadelphia Business Journal. The creator of the first FDA-approved oral treatment for MASH has begun transitioning into three floors of Keystone’s 1K1 building on Conshohocken State Road. The new 54,000-square-foot space is an 86% increase from its Four…
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Century Therapeutics Expands Pipeline with Type 1 Diabetes Drug Candidate
Philadelphia-based Century Therapeutics is broadening its drug development pipeline with a new candidate aimed at treating Type 1 diabetes, an autoimmune disease that affects 2 million people in the U.S., writes John George for the Philadelphia Business Journal. “There is a massive unmet need in Type 1 diabetes,” said Century CEO Brent Pfeiffenberger. “Type 2…
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Horsham-Based Myonex Taps CFO for Top Executive Position
Horsham-based Myonex has appointed its chief financial officer, Greg Lavin, as the top executive of the clinical trial supply and services company, writes John George for the Philadelphia Business Journal. Lavin will assume the role of CEO on January 1, succeeding James Lovett, who is retiring after six years in the position but will continue…
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CSL to Invest $1.5B in U.S. Growth Amid Restructuring and Local Layoffs
CSL, which has major operations in King of Prussia, announced plans to expand in the U.S., reports John George for the Philadelphia Business Journal. The Australian biopharmaceutical company plans to invest roughly $1.5 billion in its footprint over the next five years. Company leaders said the expansion will strengthen domestic manufacturing of plasma-derived therapies and…
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Merck Invests $9.2B in Cidara to Boost Breakthrough Flu Drug
Merck is expanding its respiratory-health portfolio, the company announced in a press release. The pharmaceutical giant with significant operations throughout Montco announced a $9.2 billion agreement to acquire Cidara Therapeutics. The deal centers on CD388, a long-acting antiviral designed to prevent influenza in adults who face higher risks of complications. CD388 is currently in a…
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Blue Bell’s ThirdLaw Molecular Rebrands as Ladder Bio with New Leadership and Backing
A Blue Bell biotech company born out of Temple University is entering a new phase, writes John George for the Philadelphia Business Journal. ThirdLaw Molecular has fresh leadership, a rebrand, and multimillion-dollar backing. The company is now Ladder Bio, a nod to the distinctive ladder-like structure of its patented Spiroligomer molecules. The new class of…
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Conshohocken’s Cencora To Expand US Pharmaceutical Distribution With $1B Investment
Conshohocken-based Cencora is planning to expand its pharmaceutical distribution network across the United States with a $1 billion investment through 2030, writes John George for the Philadelphia Business Journal. The plans include opening a second national distribution center in Ohio and increasing the company’s presence in both Alabama and California. “This investment underscores our commitment…
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Legal Action Emerges at Discovery Labs as MLP Ventures Pursues $1B Refinancing
Innovation 411, the centerpiece of King of Prussia’s Discovery Labs campus, is now at the center of a legal standoff, writes John George for the Philadelphia Business Journal. Owner MLP Ventures has filed a civil suit in Montgomery County Court against its largest tenant, the Center for Breakthrough Medicines (CBM), and CBM’s majority owner, South…
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Orchestra Life Sciences Headquarters Moving from Canada to Philadelphia Navy Yard with Planned Expansion
Orchestra Life Sciences is moving its headquarters from Montreal in Canada, to the Philadelphia Navy Yard as it prepares for rapid growth, writes John George for the Philadelphia Business Journal. The firm, which supports pharmaceutical and biotechnology companies developing therapies for cancer and rare diseases, currently has more than 60 employees around the world and…
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Cencora to Open Automated Distribution Hub in Ohio, Adding $14M Payroll
Conshohocken’s Cencora is expanding its reach with a major investment in the Cincinnati region, writes Brian Planalp for the Cincinnati Business Courier. The global Pharmaceutical company announced plans to open a highly automated distribution center with cold storage in Harrison, Ohio. Cencora expects the expansion to generate 140 full-time jobs. Each position will pay an…
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Flagship Drug Sales Boost Plymouth Meeting-Based Harmony Biosciences Stock
Plymouth Meeting-based Harmony Biosciences saw its stock rise by almost 13 percent Thursday after reporting positive sales growth for Wakix, its flagship sleep disorder drug, writes John George for the Philadelphia Business Journal. Shares of the pharmaceutical company closed at $29.76, an increase of 12.7 percent. Harmony reported that its narcolepsy drug generated $239 million…
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Merck Doubles Down on Domestic Manufacturing with $70 Billion Investment
Pharmaceutical giant Merck is boosting its U.S. investments to more than $70 billion, according to Reuters. The move underscores its commitment to strengthening domestic manufacturing and research. The company already has major operations throughout Montco. It plans to expand biologics and small-molecule production and enhance R&D capabilities across its U.S. network. Merck’s expansion includes construction…
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Doylestown’s Pennsylvania Biotechnology Center to Expand with New Laboratory
The Pennsylvania Biotechnology Center of Bucks County is planning to add a new laboratory and office building on a lot across from its Doylestown campus, writes John George for the Philadelphia Business Journal. The 2.85-acre vacant property is owned by the Fred Beans Automotive Group and previously housed a swimming pool construction company. The Bucks…
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Merck Finalizes $10 Billion Acquisition, Expands COPD Treatment Portfolio
Pharmaceutical giant Merck, which maintains major operations in Montgomery County, has completed its $10 billion acquisition of Verona Pharma, writes the New Jersey Business and Industry Association. The acquisition strengthens its cardio-pulmonary treatment lineup with the addition of Ohtuvayre, a breakthrough therapy for chronic obstructive pulmonary disease (COPD). Verona Pharma now operates as a wholly…
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CSL Laying Off 55 Vifor Employees at King of Prussia In 15 Percent Workforce Reduction
CSL is laying off 55 employees from Vifor subsidiary assigned to its King of Prussia office in a 15 percent workforce reduction announced in August, writes John George for the Philadelphia Business Journal. “Following a thorough assessment of our business needs and the broader economic environment, we have reorganized our field-based teams to support our…
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Amid Continued Financial Struggles, Warrington’s Windtree Therapeutics Shifts Focus
Following failed forays into real estate and crypto, Warrington-based Windtree Therapeutics is reinventing itself as a waste management and environmental services firm, writes John George for the Philadelphia Business Journal. This surprising pivot comes after the company’s struggle to find a partner for its drug candidate pipeline. “Capital is scarce out there, especially for cardiovascular…
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King of Prussia’s CSL Behring Pioneers Gene Therapy Changing Hemophilia Care
King of Prussia–based CSL Behring is at the center of a medical breakthrough that’s reshaping life for people with hemophilia, writes Amelia Schaefer for the News Tribune. The company’s gene therapy, HEMGENIX, is the first FDA-approved treatment of its kind. It offers patients a chance to live without the weekly infusions that once defined their…
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WSJ: GSK CEO Emma Walmsley to Step Down; Luke Miels to Lead Pharma Giant
Pharmaceutical giant GSK is preparing for a major leadership change that will resonate globally and locally, reports Elena Vardon and Adrià Calatayud for The Wall Street Journal. The London-based company, which has significant operations in Conshohocken, Upper Providence, and Upper Merion, announced that CEO Emma Walmsley will step down at the end of 2025. Chief…
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