Trade in counterfeit goods, including fake drugs, is a growing problem worldwide, the Organisation for Economic Cooperation and Development (OECD) has reported. The trade has serious health implications, the OECD claim. The report shows counterfeit drugs are a particular problem in Africa, but that Europe and North America have also been hit.
Benzene in Pepsi
US soft drink company PepsiCo has failed to dismiss a law suit alleging that they are selling drinks containing ingredients that can react to form benzene. Benzene, a known carcinogen, can form in drinks that contain vitamin C and either sodium benzoate or potassium benzoate. Coca-Cola has already settled with plaintiffs and will reformulate their drinks.
German chemical firm Lanxess has cancelled plans to bid for fellow German business Degussa , following news that Degussa's parent company RAG will go ahead with an initial public offering for the firm. Rumours of the Lanxess bid have circulated for almost a year, but were finally put to rest when the German government agreed to the IPO in late May.
AMRI moves manufacturing
US pharmaceutical services firm Albany Molecular Research has agreed an $11 million deal to buy two drug manufacturing sites in India. The company will invest a further $15 million in the facilities over the next three years.
Reshuffle at Pfizer
Pfizer has continued its internal reorganisation, announcing that the heads of R&D and finance will both go. Research chief John LaMattina will retire before the end of the year, shortly after a successor is found, the company reports. Pfizer has been criticised for its weak drug pipeline , an issue exacerbated by the recent failure of cholesterol drug torcetrapib in Phase III clinical trials.