Pharma Roundup: Bayer Boosts R&D, AstraZeneca Outsources, Titan Execs Leave, and More
Bayer: in our pipeline we trust — With 50 projects in phases I, II, and III of development, Bayer plans to increase research & development spending; chairman Werner Wenning cited innovation as the firm’s hope for the future. [Source: PharmaTimes]
AstraZeneca outsources IT – AZ has forged a 5 year, multi-million dollar contract with India’s Infosys. The contract covers IT support for manufacturing, human resources, supply chain management, and more. [Source: FiercePharma]
Changes in Titan’s executive line-up — As Titan searches for a potential buyer for its most significant asset, the anti-addiction drug Propbuphine, CEO Marc Rubin and COO Sunil Bhonsle are resigning their posts, though they will continue to assist the company as it restructures. CFO Robert Farrell will lead the company. [Source: FierceBiotech]
Biotech acquisitions on the rise — The pace at which Big Pharma is purchasing biotech firms continues to mount; 19 such transactions occurred in the first six months of 2008, but 23 have happened since then. [Source: Pharmalot]
BNET User Analysis