PharmaNet Development Group, the US-based provider of drug development services to the pharmaceutical, biotechnology and medical device industries, has officially ended its bioanalytical services joint venture with Anapharm Europe.
Dr Maria Cruz Caturla, Anapharm Europe’s majority shareholder, has bought out PharmaNet’s minority interest in the joint venture, becoming the sole owner of the company based in Barcelona, Spain.
Both parties will continue independently to provide, and invest in, bioanalytical services at their respective laboratory facilities, PharmaNet and Anapharm Europe noted. Where necessary, they will also give co-ordinated support to client projects undertaken jointly during the term of the venture.
In its previous incarnation as SFBC International, PharmaNet Development Group acquired Anapharm, Inc, a Canadian company specialising in early-stage clinical studies and laboratory services, in 2002. It took a 49% stake in the Anapharm Europe joint venture in October 2003.
PharmaNet continues to offer bioanalytical laboratory services through its Anapharm sites in Quebec City and Toronto, Canada and through Taylor Technology, a US subsidiary acquired in July 2004.