Pharma & Biotech
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WSJ: Merck Makes $10 Billion Move as Keytruda Patent Expiration Nears
Merck is making big pharma waves again with a $10 billion deal to acquire Verona Pharma, reports Colin Kellaher for the Wall Street Journal. The move bolsters Merck’s pipeline with the COPD drug Ohtuvayre as the company prepares to lose the patent of Keytruda in 2028. With operations in both West Point and North Wales,…
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Glaxosmithkline Gets Approval for First-of-its-Kind Lupus Treatment
Glaxosmithkline, with multiple operations in Montco, just scored a major regulatory win that could reshape how lupus nephritis is treated in children, writes Neha Gupta for Insider Monkey. Late last month, the FDA approved the company’s 200 mg/mL autoinjector of Benlysta for pediatric patients as young as five, marking the first at-home treatment options for…
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MasterSwitch Bio: The New Ambler Startup Aiming to Reverse Liver Damage
Nobel Prize-winning scientist Dr. Drew Weissman has co-founded a new biotech company in Ambler with the mission of reversing liver damage using mRNA technology, writes John George for the Philadelphia Business Journal. MasterSwitch Bio collaborates with labs at both the UPenn and the University of Pittsburgh. The company’s lead therapy uses modified mRNA to treat…
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Wistar Institute Opens New HIV Cure and Viral Diseases Center
The Wistar Institute recently celebrated a ribbon cutting for the opening of its new HIV Cure and Viral Diseases Center. The vision for the center is to uncover the fundamental science that powers tomorrow’s cures for HIV and other viral diseases. The belief is that revealing how viruses work and how the immune system responds,…
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Merck’s West Point Presence Remains Strong Amid Riverside Closure
As Merck moves forward with plans to close their Riverside facility, the company remains committed to its West Point location and other sites, writes Nathan Owens for Manufacturing Drive. The Riverside plant, which once employed 300 people, was originally slated to cease production in 2024. Merck hasn’t disclosed why the timeline was delayed but noted…
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Malvern Medical Manufacturer Cleared for First-of-Its-Kind Alzheimer’s Blood Test
A first-of-its-kind blood test developed by Malvern-based Fujirebio Diagnostics to help diagnose Alzheimer’s disease has received clearance from the U.S. Food and Drug Administration, writes Courtenay Harris Bond for PhillyVoice. The blood test detects the abnormal protein brain deposits associated with the disease. It is intended for individuals aged 55 and older who are already…
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Upper Providence’s GSK Bets Big on ‘Game-Changing’ Liver Disease Drug
GSK has announced a $1.2 billion deal to acquire efimosfermin alfa from Boston Pharmaceuticals, writes John George for the Philadelphia Business Journal. The Montco-based company promised up to $800 million more if certain developmental milestones are met. The once-monthly drug targets metabolic dysfunction-associated steatohepatitis (MASH), including cirrhosis, and may eventually be expanded to treat alcohol-related…
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GlaxoSmithKline Brings Meningitis Awareness to Lifetime with Original Film
Pharma giant GlaxoSmithKline, with major operations in Upper Providence, is heading to Hollywood with a mission, writes John George for the Philadelphia Business Journal. The company has teamed up with Lifetime to produce Pretty Hurts, a new original movie premiering June 28, aimed at raising awareness about meningitis and the importance of vaccination. The project…
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Fort Washington’s Nuevocor Raises $45M to Advance Gene Therapy for Heart Failure
Nuevocor, a biotechnology company based in Singapore with operations in Fort Washington, has raised $45 million in Series B funding to advance its gene therapy for heart failure, writes John George for the Philadelphia Business Journal. The financing round was co-led by Kurma Partners of Paris and Angelini Ventures of Rome. Existing investors EDBI, ClavystBio,…
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West Conshohocken’s Medicus Pharma Eyes $75M UK Acquisition
West Conshohocken-based Medicus Pharma is making major moves on the international biotech scene, writes John George for the Philadelphia Business Journal. The company signed a letter of intent to acquire British company Antev Ltd. in a cash and stock deal worth up to $75 million. Antev, headquartered in Weybridge, England, is developing Teverelix, a promising…
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Merck Expands Biomanufacturing with Staggering Investment in Wilmington
Merck, the Pharma giant with operations in Lansdale, announced on Tuesday that it will build a $1 billion “biologics center of excellence” in Wilmington, writes John George and Paul Schwedelson for Philadelphia Business Journal. The new facility, dubbed Merck Wilmington Biotech, will anchor the Chestnut Run Innovation & Science Park, a sprawling campus developed by…
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Philadelphia Ranks Among Top 5 Life Sciences Hubs in the Nation
Colliers, a commercial real estate services firm, recently did its second annual analysis of the top life sciences hubs in the nation, and Philadelphia is in the top five, writes John George for the Philadelphia Business Journal. Philadelphia took fourth place on this year’s ranking for the second consecutive year. The firm credited Philly’s strong…
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After 20 Years in Business, Honey Brook Pharmaceutical Company Files for Bankruptcy
Provell Pharmaceuticals, a pharmaceutical company based in Honey Brook, has filed for Chapter 7 bankruptcy after twenty years in business, writes John George for Philadelphia Business Journal. With headquarters in the West Brandywine Business Center, Provell distributes name brand pharmaceutical drugs at generic prices. In 2024, Provell had fewer than ten employees and no sales…
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Federal Funding Gap Hits Horsham Lab Tracking Emerging Drug Threats
Horsham’s Center for Forensic Science Research and Education has laid off 12 employees due to delays in federal grant funding, writes John George for the Philadelphia Business Journal. The nonprofit had expected $2.1 million from the Departments of Justice and State to support key programs this year, but none of the funds have arrived. Chairman…
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Iovance Biotherapeutics Likely to Add Hundreds of New Jobs At Philadelphia Navy Yard
As part of an effort to increase its cell therapy manufacturing, Iovance Biotherapeutics is planning to add hundreds of new jobs at its manufacturing site at the Philadelphia Navy Yard, writes John George for the Philadelphia Business Journal. This would double the company’s current production capacity. According to Iovance’s interim CEO Fred Vogt, the expansion…
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Malvern’s Endo Enters Into Agreement to Merge with Mallinckrodt in $6 Billion Deal
Malvern-based Endo has agreed to merge with Mallinckrodt in a cash and stock deal, valuing the combined pharmaceutical company at $6.7 billion, writes John George for the Philadelphia Business Journal. Both Endo’s predecessor company, Endo International, and Mallinckrodt recently went through bankruptcies and also had to deal with litigation regarding their alleged roles in the…
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Hatboro’s Azzur Group Files for Chapter 11, Plans $56M Sale of Consulting Division
Hatboro-based life sciences consulting firm Azzur Group has filed for Chapter 11 bankruptcy protection, writes John George for the Philadelphia Business Journal. The company has agreed to sell its consulting division to Eliquent Life Sciences of Washington, D.C., for $56 million, pending approval from the U.S. Bankruptcy Court. Supported by Eliquent’s lead investor, GHO Capital,…
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One Chester County Company Lands on Forbes Best Midsize Employers List
One Chester County company has found its place on the recently published Forbes 2025 America’s Best Large Employers List, write Rachel Rabkin Peachman and staff for Forbes. For the last decade, the publication has ranked America’s best employers based on criteria that include compensation, employee development and advancement, meaningful work, supportive colleagues, and workplace well-being…
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