Karo Pharma, Teva Pharmaceuticals | February 04, 2021
Karo Pharma Aktiebolag ("Karo") today reports the securing of an OTC brand portfolio containing Flux®, Decubal®, Lactocare®, Apobase®, Dailycare® and Fludent® from Teva Pharmaceuticals (Teva) for an absolute thought of EUR 84m.
The exchange moves responsibility for brand portfolio, included Flux®, Decubal®, Lactocare®, Apobase®, Dailycare® and Fludent® from Teva to Karo. The brands created deals barely shy of EUR 35m in 2020 on a worldwide premise. The greater part is created in the Nordic business sectors, including Scandinavia, where the brands as of now are dispersed and showcased by Karo under a 7-year permit arrangement that was endorsed in the spring of 2019.
The exchange adds around EUR 4m in net deals from new business sectors outside of Scandinavia of which approx. 80% is in Finland. The exchange disentangles the business set-up and gives Karo control of the resources, in this way preparing for long haul advancement of the brands and the worth chain.
As far as monetary effect Karo will acknowledge direct investment funds in year 1 of simply under EUR 5m as expenses to Teva are disposed of. Karo as of now popularizes the items in Scandinavia and has dynamic associations with the agreement manufacturers that supply the brands. Subsequently, restricted added expenses and faculty are needed as an immediate aftereffect of the exchange.
"The transaction is in full alignment with our strategy of owning and commercializing strong OTC brands within everyday healthcare. It gives us full global control of a very exciting brand portfolio that we will develop and optimize over the next years. It strengthens our position in the Nordic markets and notably it expands our business in Finland where we did not previously control these brands. Over the next years we shall expand life cycle management opportunities, drive activation across more channels and explore geographical market expansion", says Christoffer Lorenzen, CEO of Karo Pharma.
The obtaining is an unadulterated resource bargain. No staff or assembling locales are incorporated, which limits business just as the innovation move chances. The exchange, which is financed with existing money and requires no extra credit facilities, is relied upon to close on April 1.
About Karo Pharma
Karo Pharma delivers smart choices for everyday healthcare. We own and commercialize branded, original over-the-counter products and prescription medicines. Our products are available in more than 60 countries, with Europe and the Nordic region as our core markets. Karo Pharma is headquartered in Stockholm, Sweden and listed on Nasdaq Stockholm Mid Cap.
The Mid-Atlantic Technology, | March 03, 2022
The Mid-Atlantic Technology, Research & Innovation Center announced it will establish the Center of Excellence for process design, defining a new standardized process development framework to streamline chemical manufacturing processes from laboratory bench through to commercial production. The initial projects will develop continuous processes for critical materials for the pharmaceutical industry currently substantially produced overseas. These new capabilities will be established as a result of the Department of Commerce’s recent Rapid Assistance (for) Coronavirus Economic Response grant to the RAPID Manufacturing Institute, of which MATRIC is a sub-awardee.
MATRIC—applying its unique infrastructure and subject matter expertise—will lead the specialty chemical manufacturing industry with this Center of Excellence focused on accelerated process design through modular processing. Onshoring the capability to move critical pharmaceutical material manufacturing processes from concept to commercial products will enable faster response times and fewer supply chain disruptions for the Nation.
“Today, the U.S. doesn’t have the manufacturing capability to produce some key raw materials and intermediates at scale to support our pharmaceutical industry and needs. The COVID pandemic and the current global supply chain issues have taught us the importance of supply chain stability and security, and this starts with critical raw materials produced domestically, distributed with purpose, and efficiently accessed.”
MATRIC Chairman & CEO Steven B. Hedrick
“At the beginning of the COVID pandemic, we struggled to get our families and front-line healthcare workers access to necessary PPE, disinfectants and other critical equipment. I applaud MATRIC for making this exciting investment and establishing the Center for Excellence right here in West Virginia. Their broad-based chemical technology expertise will also help improve domestic Active Pharmaceutical Ingredient (API) manufacturing, at a time when onshoring our pharmaceutical supply chain is critical,” said U.S. Senator Joe Manchin (D-WV). “West Virginia’s strategic location and MATRIC’s unique skillset will play a critical role in ensuring healthcare professionals across the country can quickly and efficiently get the equipment they need to safely do their jobs.”
MATRIC is a sub-awardee of the RACER grant from the Department of Commerce to the RAPID® Manufacturing Institute (RAPID). MATRIC will collaborate with RAPID, the project leader, and with partners at Teich Process Development and Procegence.
“Through its partnership with RAPID, Teich and Procegence, MATRIC’s Center of Excellence avails our economy with choices. Choices like this afford the opportunity to source from Americans for Americans, or to selectively buy from overseas, at their discretion,” said RAPID Executive Director & Chief Technology Officer Ignasi Palou-Rivera. “Just on the horizon, the most important raw materials and intermediates for pharma will again be made available inside the United States and not be locked down by a relatively inelastic supply chain originating in nations with substantial government control.”
RACER grants are awarded by the U.S. Department of Commerce to high-impact projects designed to fund awards for research, development, and testbeds to prevent, prepare for, and respond to coronavirus.
MATRIC is the strategic innovation partner of choice that provides uncommon expertise and infrastructure to solve the most challenging science and technology problems. Focusing on the areas of chemical, energy and environmental technologies, technical engineering and advanced software technologies, MATRIC delivers innovation from concept to commercialization. We utilize our experienced and renowned staff, unique laboratory and pilot plant facilities, and flexible intellectual property models to create value for customers and investors around the world. We are an energized and expanding company that works from facilities in South Charleston and Morgantown, W.Va.
About RAPID® Manufacturing Institute
RAPID serves as a nexus between process innovation, economic development, and job creation. The technology development and educational programming we sponsor will increase energy and operational efficiencies, enhance productivity, and improve sustainability, making U.S. manufacturing in the chemical process industries (CPI) more competitive in the global market and developing the next generation workforce for these industries.
JelikaLite Corp | January 07, 2022
JelikaLite Corp, a medical technology company, announced that the U.S. Food and Drug Administration has granted the Breakthrough Device Designation to its Cognilum System for the reduction of symptoms of moderate to severe autism spectrum disorder in pediatric patients who are 2 to 6 years of age.
The FDA’s Breakthrough Device Program recognizes medical devices that meet the criteria and hold the potential for more effective treatment or diagnosis of life-threatening or irreversibly debilitating human disease or condition. Data from a pilot study suggests that Cognilum, a wearable medical device, can significantly improve the symptoms of children living with autism. If approved, it will offer families access to a home-based, easy-to-use, and cost-effective treatment for children with autism not available anywhere else.
Autism is a serious developmental disorder that impacts families around the globe. JelikaLite Corp. believes that it can provide relief to patients and families by reducing children's autism symptoms. Children will be able to better integrate into the society and have more fulfilling lives. Their caregivers can lead less stressful lives and both insurance companies and the government will be able to spend less money on effective intervention, special education and lifelong residential care.
The Breakthrough Device Designation for Cognilum was based on the results of a double-blind, placebo controlled clinical trial of 30 pediatric patients with moderate to severe autism. The trial showed both safety and efficacy of this technology. By combining non-invasive brain stimulation with near-infrared light, EEG sensors, and AI personalization platform, Cognilum demonstrated improvements in autism symptoms through gains in communication and daily living skills.
"We are thrilled that the FDA recognizes that we are developing a novel technology with a potential to change the landscape in the current approach to Autism. For some of the participants in our active condition, the positive change was so dramatic that their parents expressed their desire to continue the treatment even after the study was over. We recognize that Autism is a spectrum, and no two children are alike; our ultimate goal is to develop a personalized approach to every child based on their unique needs and challenges.”
Dr. Eugenia Steingold, Chief Science Officer of JelikaLite
JelikaLite’s vision is to bring Cognilum into the homes of families raising children with autism around the globe. This device is truly unique as it seeks to offer a personalized treatment for each child with an integrated feedback loop for both caregivers and doctors.
Based in New York, JelikaLite was launched in 2019 to develop Cognilum™, an innovative solution to permanently reduce children's autism symptoms, enabling better integration into society and reducing lifelong costs. Cognilum™ is a data-device integrated system, where a wearable non-invasive therapeutic medical device that provides neurostimulation treatment is combined with an AI personalization platform.
JelikaLite has been founded and run by a multidisciplinary team, with experts in autism clinical therapy, transcranial photobiomodulation, commercialization of medical devices, artificial intelligence, product management, and finance.