#b#New in Town#/b#
Angelini Labopharm, 202 Carnegie Center, Suite 107, Princeton 08540; 609-454-0201; fax, 609-454-0202. Ann Caparros, analyst, business opeartions. www.angelabo.com
A joint venture between Canada-based Labopharm and Italy-based Gruppo Angelini, to market the antidepressant drug Oleptro, has created Angelini Labopharm, which will run its sales and marketing operations out of 202 Carnegie Center.
Labopharm develops nano-delivery technologies for water-insoluble drugs, or drugs that otherwise are hard for the body to absorb. The company has a long-standing relationship with Angelini, which has done marketing for Labopharm. As part of the joint venture, Labopharm will grant Angelini Labopharm the exclusive right to market and sell Oleptro in the United States.
Mentor Minds Solutions & Services, 3525 Quakerbridge Road, Suite 1600, Hamilton 08619; 609-586-5898; fax, 609-586-5898. Suresh Chari, CEO.
Mentor Minds, a Boston-based provider of business development, IT, and outsourcing, has opened an office on Quakerbridge Road in Hamilton.
#b#Stock News#/b#
Covance Inc. (CVD), 210 Carnegie Center, Princeton 08540-6681; 609-452-8550; fax, 609-452-9375. Joe Herring, CEO. www.covance.com
Pharma giant Covance recently announced othat it would buy back $250 million in stock
The buy-back is in addition to the roughly 800,000 shares remaining under the repurchase authorization announced in 2007 and represents nearly 10 percent of the company’s common stock. CEO Joe Herring said the move reflects “the fundamental strengths and future outlook of Covance.”
The buy-back also coincides with Conace’s announcements that it has opened a new 40,000-square-foot lab in Indiana and signed a partnership with France-based biotech Sanofi-Aventis that will have Covance doing R&D work for Sanofi over the next decade. According to Covance, the company will buy a Sanofi site in France and one in the United Kingdom for $25 million, but expects to earn as much as $2 billion from its contract R&D work over the next 10 years.
#b#Deaths#/b#
Meta Griffith, 101, on September 30. She was the co-founder, with her husband, of Griffith Electric in Trenton and a noted philanthropist.
Sue Diviaio, 48, on September 30. She was a registered nurse manager in the Mental Health Inpatient Unit for Capital Health Systems at Helene Fuld in Trenton for 19 years.
Joyce Weiden, 64, on September 30. She was employed as a bookkeeper since 1987 for Civale, Silvestri, Alfieri, Martin & Higgins, an accounting firm based in Mercerville,
Robert Miller, 71, on September 27. He retired from CMI Plastics in 2006 after 38 years.
