Australian Drug Firms Move Abroad
Two Australian pharmaceutical companies, F H Faulding and CSL Ltd, have recently announced plans to expand their operations abroad.
The country's largest pharmaceutical company, CSL, is currently negotiating to set up a Europe and UK headquarters. The town of Maidenhead in Berkshire has been chosen, and a site is close to being decided. CSL principally manufacturers Factor VIII, which is used largely by hemophiliacs as a blood-clotting agent.
Meantime, Faulding has entered into an agreement with Bristol-Myers Squibb in the USA for the latter to acquire exclusive US marketing rights for the Australian group's new oral, sustained-release morphine product Kadian. Faulding has said it expects US Food and Drug Administration approval for the product by the end of June, and forecasts a launch in 1966.
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