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 | + | [[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. In April 2006 Chiron was bought out by [[Novartis Vaccines and Diagnostics]] part of [[Novartis]].<ref name="Isis"/>Thomson Reuters [http://cws.huginonline.com/N/134323/PR/200604/1045686_5_2.html Novartis acquisition of Chiron approved by Chiron shareholders], 19/04/2006, 2006, 6.28 PM CET </ref> |
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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> | 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> | ||
Revision as of 18:16, 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. In April 2006 Chiron was bought out by Novartis Vaccines and Diagnostics part of Novartis.[1]Thomson Reuters Novartis acquisition of Chiron approved by Chiron shareholders, 19/04/2006, 2006, 6.28 PM CET </ref> 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
Resources
- Steve Doughty Lord Moneyjabs: How Drayson fattened up his drug firm on the taxpayer - then made £80m selling it to Americans Daily Mail, UPDATED: 01:18, 16 June 2009.
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 £43m windfall for PowderJect chief The Guardian, Tuesday 20 May 2003 02.34 BST
