Merck announced Tuesday that it will spend $15 million renovating and expanding its facility in Wilson.

The capital projects, which include overhauling existing manufacturing space and adding a cold storage facility for vaccine packaging, will not increase the company’s workforce at the site.

Merck employs about 400 people at its 225-acre packaging center in Wilson, which opened in 1983.

Most of the Merck pharmaceutical products now packaged in Wilson are done so at room temperature.

Vaccines, which are a growing part of Merck’s business, require expansive cold storage space.

Merck has a vaccine plant in Durham that is poised to become the largest live-vaccine production facility in the world.

The rapidly growing lab, which makes chicken pox vaccine, employs more than 700 today and could expand to 1,000 workers at full production.

By 2013 Merck expects to be making at the Durham facility at least four vaccines for shingles, measles, mumps and rubella.

Patheon, the Canadian drug maker with headquarters in Research Triangle Park, reported an operating loss in the first quarter as revenues declined 12 percent.

The company reported revenues of $153.9 million, down from $175.7 million during the same period a year ago.

Patheon had an operating loss of $20.9 million, compared to operating income of $13.5 million in the first quarter of last year.

The company manufactures prescription drugs and provides other services, such as developing the formulation of experimental drugs. It employs about 50 in RTP. None of Patheon's nine manufacturing facilities is based in the Triangle.

Chapel Hill drug company Pozen's reported this morning that its revenue more than doubled in the fourth quarter thanks to a royalty payment for the U.S. rights to its experimental migraine drug.

The company had revenue of $73 million for the quarter, up from $29 million during the same period in 2010. Nearly all of that was from royalty payments the company received for the U.S. rights to Treximet.

In November, Pozen announced it had sold those rights to CPPIB Credit Investments, a Canadian investment firm fir $75 million, which netted the company proceeds of $71.9 million.

Pozen's net income for the quarter was $61.5 million, or $2.04 per share, compared to net income of $18.4, or 61 cents per share, during the fourth quarter of 2010.

That beat the $1.98 per share that was the consensus among the two analysts who cover the company.

Salix Pharmaceuticals reported fourth quarter earnings late today that beat Wall Street estimates thanks to robust sales of its best-selling drug Xifaxan.

The Raleigh company reported revenue of $155.2 million for the quarter, up 31 percent from the same period in 2010. Net income, excluding certain charges, for the quarter was $76 million, or $1.18 per share.

That beat the 93 cents per share that was the consensus among Wall Street analysts who cover the company.

For the year, Salix reported revenue of $540.5 million, up 60 percent from 2010.

Salix sells drugs to treat gastrointestinal ailments. Xifaxan is approved to treat travelers' diarrhea and hepatic encephalopathy, a rare liver condition.

Xifaxan revenue for the quarter was $107.2 million, up 29 percent from the same period in 2010. Xifaxan revenue for the year was $371.7 million, up 48 percent.

In a statement, Salix's chief financial officer, Adam Derbyshire, said the company expects revenues in 2012 to increase 36 percent to about $735 million.

Salix shares closed today up 3 cents at $46.14. The stock is up 38 percent over the past year.

Cempra Pharmaceuticals expects the offering price for its planned IPO to be between $11 and $13, the Chapel Hill company reported in a regulatory filing last week.

The company, which filed to go public in October, had earlier said it hoped to raise nearly $90 million through the offering.

Cempra is developing treatments for drug-resistant skin infections and pneumonia. The company has two antibiotics in clinical trials.

One targets patients with pneumonia. The other is being tested as a treatment for skin infections, including methicillin-resistant Staphylococcus aureus, or MRSA.
 

Durham drug company BioCryst Pharmaceuticals announced today positive findings from a recent study involving its experimental gout treatment.

Jon Stonehouse, BioCryst's CEO, said on a conference call with analysts that the company will meet with federal regulators in the coming months to extend the current studies involving the treatment.

"These results give us momentum as we enter 2012 and make it a very exciting year for BioCryst," he said.

BioCryst increased investment in its gout treatment, BCX4208, after receiving $23 million in March by borrowing on royalty payments anticipated from Shinogi, which has licensed the Japanese rights to BioCryst's flu treatment peramivir.
 

Chapel Hill drug company Pozen reported a narrower loss in the third quarter thanks to increased revenues from its migraine medicine Treximet.

Pozen reported a loss for the quarter of 7.1. million, or 24 cents per share, compared to $8.6 million, or 29 cents per share, during the same period a year ago.

That equalled the consensus among analysts who cover the company.

Revenue for the third quarter was $4.9 million, compared to $4.3 million during the same period a year ago.

Most of Pozen's revenue comes from its Treximet migraine medicine, which is sold by larger partner GlaxoSmithKline, and its Vimovo arthritis pain reliever, sold by AstraZeneca. Pozen receives royalties from the sales.
 

Pfizer reported Friday that is has completed its acquisition of Durham-based Icagen.

Icagen is now a wholly-owned subsidiary of Pfizer. Icagen's stock ceased trading on NASDAQ on Friday.

Icagen and Pfizer announced the $56 million deal in July, but some large investors complained the $6 share price was too low.

Pfizer was able to convince enough shareholders to go along with the deal after extending the deadline twice.

Icagen was founded in 1992 by P. Kay Wagoner, a former GlaxoSmithKline Plc research executive who focused on developing new ways to treat pain.

None of the company's drugs have been approved by the U.S. Food and Drug Administration for sale in the U.S. market.

While rumors persist about drug researcher PPD’s possible takeover by a private equity group, an analyst report this week suggests the company has room to expand as its clients increase their research and development funding, staff writer Tori Stilwell reports.

More of PPD's clients plan to boost spending on the clinical part of drug development, the company's main business, according to Garen Sarafian, an analyst with Citigroup Global Markets who follows the company.

“That naturally favors PPDI,” Sarafian said, referring to the company’s stock ticker. He also cited the company’s “lean” cost structure and strong leadership as an explanation for why he started coverage of the company with a “buy” rating.

A Durham company that helps test medicines and other products for pharmaceutical firms, universities and other customers has raised $13.1 million in venture financing.

Metabolon will use the money to hire additional workers and to expand its business. The company is developing its own tests, including one to detect insulin resistance, which can lead to Type 2 diabetes.

Founded in 2000, Metabolon expects 2011 revenue to rise to about $20 million.

The company has raised about $45 million in venture financing, and recently was named as one of 13 candidates for an initial public offering of stock by Fortune magazine.