Difference between revisions of "PowderJect"
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| + | [[PowderJect]], was 'a vaccine, drug and diagnostics delivery company specialising in the needle-free, pain-free injection of drugs, biophamaceuticals, conventional and DNA Vaccines and diagnostics in dry powder form.'<ref name="Isis">Isis [http://www.isis-innovation.com/spinout/powderject.html PowderJect Pharmaceuticals Plc - part of Novartis AG], accessed 18 August 2013</ref> It was 'originally spun out' from the [[University of Oxford]] in 1993 with the aid of [[Isis Innovation]].<ref name="Isis"/> In 2003, PowderJect was acquired [[Chiron Corporation]] for $800m. Chiron was subsequently bought out by [[Novartis Vaccines and Diagnostics]] part of [[Novartis]].<ref name="Isis"/> | ||
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| + | In 2002 PowderJect, 'was caught up in controversy... after winning a £32m smallpox vaccine contract from the government'.<ref name="Gibbs">Geoffrey Gibbs [http://www.theguardian.com/business/2003/may/20/executivesalaries.executivepay1£43m windfall for PowderJect chief] ''The Guardian'', Tuesday 20 May 2003 02.34 BST</ref> | ||
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| + | In 2003 PowderJect, 'headed by Labour donor [[Paul Drayson]]', was subject to a £542m takeover bid from US pharmaceuticals group Chiron - 'yielding a £100m windfall for Mr Drayson, his father-in-law and their families.'<ref name="Gibbs"/> | ||
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| + | :Mr Drayson, the chief executive, who pumped £250,000 into PowderJect when he joined 10 years ago, will pocket almost £43m from his 8% holding. His father-in-law, [[Brian Bellhouse]], the brains behind the company's much-hyped needle-free injection technology, will pick up £19.5m for his 3.6% stake, while the two men's family trusts will receive £41m of cash.<ref name="Gibbs"/> | ||
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==People== | ==People== | ||
*[[Paul Drayson]] | *[[Paul Drayson]] | ||
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| + | ==Notes== | ||
| + | <references/> | ||
Revision as of 10:37, 18 August 2013
PowderJect, was 'a vaccine, drug and diagnostics delivery company specialising in the needle-free, pain-free injection of drugs, biophamaceuticals, conventional and DNA Vaccines and diagnostics in dry powder form.'[1] It was 'originally spun out' from the University of Oxford in 1993 with the aid of Isis Innovation.[1] In 2003, PowderJect was acquired Chiron Corporation for $800m. Chiron was subsequently bought out by Novartis Vaccines and Diagnostics part of Novartis.[1]
In 2002 PowderJect, 'was caught up in controversy... after winning a £32m smallpox vaccine contract from the government'.[2]
In 2003 PowderJect, 'headed by Labour donor Paul Drayson', was subject to a £542m takeover bid from US pharmaceuticals group Chiron - 'yielding a £100m windfall for Mr Drayson, his father-in-law and their families.'[2]
- Mr Drayson, the chief executive, who pumped £250,000 into PowderJect when he joined 10 years ago, will pocket almost £43m from his 8% holding. His father-in-law, Brian Bellhouse, the brains behind the company's much-hyped needle-free injection technology, will pick up £19.5m for his 3.6% stake, while the two men's family trusts will receive £41m of cash.[2]
People
Notes
- ↑ 1.0 1.1 1.2 Isis PowderJect Pharmaceuticals Plc - part of Novartis AG, accessed 18 August 2013
- ↑ 2.0 2.1 2.2 Geoffrey Gibbs windfall for PowderJect chief The Guardian, Tuesday 20 May 2003 02.34 BST
