Welcome to Endpoints News’ manufacturing briefs, where we bring you essential news on new builds, collaborations, recalls and more.
Avid Bioservices’ revenue for fiscal year 2024 dropped by 6% to $140 million due to a decrease in manufacturing runs and a reduction in early-stage programs. That’s despite an 8% revenue increase reported for the fourth fiscal quarter of 2024, reaching $43 million compared to $39.8 million in the same period last year.
The biologics-focused CDMO remains optimistic for the future due to a “strong backlog” of $193 million, including $30 million in new orders signed in the fourth quarter (although that’s lower than the last quarter when it brought in $41 million worth of new orders). It also completed a series of expansions in 2023, including the launch of its new cell and gene therapy site in Orange County, CA, and two expansions at its Myford facility in Tustin, CA.
The new expansions should bring the company’s total revenue-generating annual capacity up to around $400 million, Avid Bio predicted on Tuesday. It is expecting 2025 fiscal year revenue to fall between $160 million and $168 million.
Lotte Biologics broke ground on a new $3.3 billion facility at the Songdo Bio Campus in Incheon, South Korea on Wednesday. The new 202,285-square-foot facility will house three new production plants.
Merck KGaA has signed a memorandum of understanding with South Africa-based Afrigen Biologics to develop mRNA vaccine technology, which will be used to scale up mRNA production with the goal of enhancing regional manufacturing capacity. Further, Merck KGaA will partake in training initiatives with Afrigen’s Center of Excellence to help build capacity in low- and middle-income countries, it said on Wednesday.
API manufacturer Olon Group is acquiring French biologics and ADC manufacturer GTP Bioways for an undisclosed sum. Olon will gain GTP’s four manufacturing sites in France, which also have capabilities in nanodrug production, fill and finish and analytical development, according to a Wednesday press release.
Cellular Origins has bought an autologous cell therapy manufacturing platform, dubbed ACTIA, developed by the former CEO of Sotio Biotech, Geoff Hodge, who now sits on the board of Cellular. No financial details were given, according to the announcement on Tuesday.
UPS Healthcare is investing over €20 million ($22 million) in more than 200 new temperature-controlled vehicles for cold supply chains to be used in Italy, France, the Netherlands and Hungary, the company told Endpoints in an email.
UK-based Kent Pharma is recalling two 150 ml packs of its itraconazole 10 mg/ml solution due to the presence of particles and clusters of crystals. The Class 2 recall was announced on Thursday. Itraconazole is used to treat thrush.
API manufacturer Veranova has expanded its antibody-drug conjugate facility in Devens, MA, costing around $30 million. The expansion adds two new manufacturing suites and a new development lab, the company said on June 27.