Quest Diagnostics admitted in early January that thousands of its vitamin D tests conducted over the last two years were incorrect. In a letter to doctors, Quest said the test has now been fixed and offered free retests. Vitamin D deficiency has been linked to several diseases, and test volumes have doubled on an annual […]
The FDA’s Center for Drug Evaluation and Research approved 21 new molecular entities (NMEs) in 2008, up from 16 the year before. Three biologic license applications (BLAs) were approved, compared to two in 2007. Three of the NMEs and one of the BLAs were delayed approvals. The drugs with the fastest approval times tend to […]
The US Consumer Products Safety Commission (CPSC) has delayed by one year the enforcement of certain requirements of the Consumer Product Safety Improvement Act (CPSIA), which were to take effect on February 10. The CPSIA implements new certification and testing requirements for products, including toys and other products for children under 12. The limits on […]
Pharmaceuticals and Biotech IMS Health forecasts worldwide pharmaceutical sales to increase 4.5%–5.5% this year, on par with 2008, to more than $820 billion (see IBO 10/31/08). The substantial cash holdings of major pharmaceutical companies could increase M&A activities. The target of these acquisitions are expected to be smaller biotech firms that are unable to access […]
A new survey by KPMG and the Semiconductor Industry Association finds that semiconductor companies do not expect an industry recovery any time soon. The November survey interviewed 85 senior executives at device, foundry and fabless companies. Fifty-two percent of the executives expect revenues to decrease and 69% expect profitability to decline over the next year […]
According to Battelle and R&D Magazine, R&D spending worldwide will increase by approximately 3.2% next year to $1,140 billion, excluding inflation. US R&D spending is estimated to increase 1.75% to $383.5 billion, excluding inflation. Including the effects of inflation, US R&D spending is forecasted to decline 1.6%, as federal government funding falls 1.9% and industrial […]
A meeting of the FDA’s Oncologic Drugs Advisory Committee earlier this month discussed the use of retrospective biomarker data in making regulatory decisions. Amgen and ImClone are seeking approval to include such data on drug labels. Amgen’s Vectibix and ImClone’s Erbitux are monoclonal antibodies used to treat colon cancer. Amgen is also seeking approval of […]
Universities worldwide are tightening spending in the wake of the financial markets’ downturn. In Japan, Keio University has reported $233 million in investment losses. In the US, financial losses at Yale and Harvard have forced the colleges to delay new buildings and new hires. The failure of Iceland’s banking industry has hit UK universities, including […]
The steel industry could be ripe for a new round of mergers and acquisitions. The $800 billion industry has already experienced a number of mega-mergers during the last 10 years. Steel prices have fallen 50% over the last four months, as have stock valuations, leaving many companies vulnerable to takeovers. Companies with substantial cash and […]
The FDA will continue to allow off-label use of the antibiotic cephalosporin in animals raised for food, including cows, chickens and pigs. In July, the FDA announced that it would crack down on the use of off-label antibiotics in animals used for food. The American Medical Association is among the groups critical of the overuse […]
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IBO (Instrument Business Outlook) is a twice-monthly newsletter aimed at providing decision-makers with the latest and most complete information available on the life science and analytical instrument industry, and lab product markets. IBO delivers the latest curated industry news, information and trends, as well as SDi data and analysis to deliver the maximum in industry insight with a minimum time investment for executives and investors.
