Welcome to Endpoints News’ manufacturing briefs, where we bring you essential news on new builds, collaborations, recalls and more.
Avid Bioservices has detected an uptick in client interest in the wake of the Biosecure Act and the Novo-Catalent acquisition, CEO Nicholas Green said during the company’s first-quarter earnings call Monday, according to an AlphaSense transcript. “It’s fair to say that there seems to be some correlation between those events and the number of opportunities that we’re seeing materialize at the early stage of discussions at the beginning of this year,” Green said.
However, Green added that pharma companies are typically quite resistant to switching manufacturers and that this process can be very expensive. A typical technology transfer can take between three to six months. While it can be speedy at around six weeks, “that is extraordinarily unusual,” he said.
Avid Bio made $33.8 million in the three months ending January 2024, an 11% dip compared to the $38 million it made in the same period last year. The drop is due to a decrease in early-stage customers and fewer manufacturing runs, according to a Monday company report. The CDMO said it has a backlog worth $206 million in the three months ending January.
Oxford Biomedica is aiming to double its revenue by 2028 as it transitions into a pure-play cell and gene therapy CDMO, chief financial officer Stuart Paynter said during its full-year 2023 earnings call Monday, according to an AlphaSense transcript. It reported £89.5 million ($112 million) in revenue for 2023 — down 36% from the prior year’s £140 million ($175 million) — due to the company shedding its vaccine manufacturing business.
Adare Pharma Solutions is expanding two sites in the US and a third in Europe, according to a press release Wednesday. The expansions in Philadelphia and Ohio are set to be operational in the fourth quarter of 2024. In Europe, Adare is expanding its site in Milan, Italy, to be completed by the end of the year.
The Centre for Process Innovation is developing its first so-called “digital manufacturing site” through its collaboration with 13 firms that includes GSK and AstraZeneca as well as academic bodies like the University of Cambridge. The facility will use artificial intelligence, machine learning and the Internet of Things to find ways to make medicines faster and at a reduced cost, according to a Tuesday release.