Healthcare Business Recap: J&J’s New Manufacturing Process, NuPathe Cuts Workforce
Johnson & Johnson (NYSE:JNJ) has applied for both United States and European Commission approval of a new manufacturing process which should permit a short-term fix to its Doxil cancer drug’s supply shortage. Under the firm’s plan, its existing contract drug maker Ben Venue Labs would produce Doxil, as a second supplier would take care of other tasks like ensuring that the drug is sterile.
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Merck & Co. (NYSE:MRK) intends to transfer its world headquarters within New Jersey from Whitehouse Station, to its existing property in Summit, which currently hosts its manufacturing, research, animal health and consumer care operations and is also home to 1,800 people. The transition process is expected to begin in 2014 and should be completed by mid-2015.
NuPathe (NASDAQ:PATH) expects to cut 50 percent of its workforce of nearly 40 employees, so as to reduce expenses and concentrate on winning approval for its NP101 migraine patch. The firm will also decrease marketing costs, and delay the application for its NP202 drug for schizophrenia and bipolar disorder until it gets a partner. In addition, NuPathe is attempting to raise $28 million in financing.
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