Ferring Pharmaceuticals

Last updated
Ferring Holding SA
FormerlyNordiska Hormon Laboratoriet
Company type Private limited company
not traded
IndustryPharmaceuticals
Founded1950 (1950)
Headquarters
Saint Prex
,
Switzerland
Area served
Worldwide
Key people
ProductsSee below
RevenueEUR 2,3 billion (2022)
Number of employees
7,000 (2023)
Subsidiaries www.ferringusa.com , et al.
Website www.ferring.com

Ferring Pharmaceuticals is a Swiss multinational biopharmaceutical company specialising in areas such as reproductive health, maternal health, gastroenterology and urology. [1] Ferring has been developing treatments for mothers and babies for over 50 years. [2]

Contents

Headquartered in Saint-Prex, Switzerland, Ferring has its own manufacturing facilities in several European countries, in South America, China, India, and the United States.

Founded in 1950, privately-owned Ferring employs over 7,000 employees worldwide, [3] has its own operating subsidiaries in more than 50 countries and markets its products in over 100 countries.

History

The company was founded by Dr. Frederik Paulsen Sr and Dr. Eva Paulsen in Malmö, Sweden, in 1950, initially as the Nordiska Hormon Laboratoriet, renamed Ferring in 1954. A ferring in Frisian is a person from the island Föhr off the western coast of Germany. Mr. Paulsen's family originates from that island.

The first major breakthrough was the synthetic production of oxytocin and vasopressin in 1961. With further growth and expansion, the headquarters moved to Copenhagen, Denmark, and subsequently to Switzerland.

In October 2011, Ferring acquired Cytokine PharmaSciences Inc. [4] (CPSI) and its UK subsidiary Controlled Therapeutics (Scotland) Ltd., a global biopharmaceutical company with a particular focus in obstetrics.

In August 2016, the company announced it would acquire the phase III sciatica candidate drug – Condoliase (SI-6603) from Seikagaku for approximately $95 million. [5]

In April 2018, Ferring announced its acquisition of Rebiotix Inc. an innovative biotechnology company and pioneer in the field of the human microbiome. [6] [7]

In November 2019, Ferring Pharmaceuticals and Blackstone Life Sciences announced the joint investment of over $570 million USD in an investigational novel gene therapy in late stage development for patients with high-grade, Bacillus Calmette-Guérin (BCG) unresponsive, non-muscle invasive bladder cancer (NMIBC). Ferring and Blackstone spun out a new gene therapy company called Fergene to bring the therapy to patients. [8]

Location

Ferring Pharmaceuticals, Global Headquarters in St-Prex, Switzerland. Ferring St-Prex.jpg
Ferring Pharmaceuticals, Global Headquarters in St-Prex, Switzerland.

Ferring Pharmaceuticals' global headquarters are located in Saint-Prex, Switzerland. [9] The company has over 5,400 employees [10] with manufacturing facilities in Europe, South America, China and has built two new facilities in the US and in India.

In Copenhagen, Ferring has a R&D centre in the Ferring Tower in Ørestad. The company has commissioned Foster and Partners to design a new building in the Scanport development. It will have area of 30,000 square metres and have room for 750 employees. [11]

In Portugal, Ferring has built a "center of excellence" (2020) for the IT services and some shared functions.[ citation needed ]

Dutch subsidiary Ferring B.V. [12] expanded to the US in 1980. [13] Ferring established a research group at the Ferring Research Institute in San Diego, CA (USA) in 1996. Ferring assembled a peptide research group that collaborates with academic scientists. The Ferring Research Institute moved to its new home in San Diego in February 2009 with the opening of a 38,000-square-foot facility in Sorrento Valley. The new facility houses expanded research laboratories for peptide medicinal chemistry, biochemistry, bioanalytical, and pharmacology.

Controversies

Ferring director's close ties to Russia

Since 2009 until 2022, Frederik Paulsen was the honorary consul of Russia in Lausanne, Switzerland and is reported to have a privileged relationship with the country and its president, Vladimir Putin. [14] [15] [16]

According to an article published by Swiss newspaper, Le Temps, Frederik Paulsen accompanied on several occasions Swiss politicians to Russia such as Pascal Couchepin, Isabelle Chassot, François Longchamp, Géraldine Savary and Pascal Broulis. [17]

The nature of these visits has been the object of criticism and interrogations by Swiss judicial authorities, who have launched investigations on Pascal Broulis and Géraldine Savary. The magistrate wished to clear if these trips were perceived as a bribe in return for fiscal arrangements for Frederik Paulsen and his company, Ferring Pharmaceuticals. [18]

The year before, on 21 February 2008, Russian president Vladimir Putin awarded Frederik Paulsen with the Order of Friendship. Three other expedition members of Arktika 2007 were also awarded titles at the occasion. During the expedition, a Russian flag was planted on the ocean floor of the North Pole, which sparked up controversy. [19] [20]

In the past, Ferring has been accused of disclosing misleading information about several of its products (Desmopressin, Glypressin) at the benefit of consumers. [21] [22] Pentasa ad in UK journal failed to comply with publication regulations.[ citation needed ]

In July 2020, the Medicines and Healthcare products Regulatory Agency, based in the United Kingdom, drew attention to the fact that Ferring Pharmaceuticals is recalling all Desmopressin nasal sprays. [23]

In 2016, a class action was filled against Ferring Pharmaceuticals regarding the Bravelle product. One year earlier, the company recalled Bravelle products after tests revealed that the drug was not as effective as declared, therefore exposing women to serious health risks. [24] [25]

Ferring Pharmaceuticals is currently engaged in a legal battle opposing it to Professor Claudio de Simone. In the early 1990s, Professor Claudio de Simone invented a probiotic formulation fighting against intestinal disorders. The "De Simone formula" was the subject of several clinical tests, attesting of its efficiency to treat certain diseases. [26]

The pharmaceutical company distributed the formula under the name VSL#3. A few years after the end of the agreement between the two parties, Ferring Pharmaceuticals continued to distribute a product referred to as "VSL#3" in several countries, containing a modified formula. [27] [26]

Products

Products are used in reproductive health, gastroenterology, urology, orthopaedics and endocrinology. [28]

Reproductive medicine and maternal health / Fertility

Gastroenterology

Urology

Orthopaedics

Endocrinology

See also

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References

  1. ↑ "Personalised medicine and partnering – key areas for Ferring". European Pharmaceutical Review (Interview). Vol. 2017, no. 6. Brasted, Kent, United Kingdom: Russell Publishing. 10 January 2018. Retrieved 30 June 2023.
  2. ↑ "Ferring Pharmaceuticals". Helping mothers and babies, from conception to birth. Retrieved 30 June 2023.[ self-published source ]
  3. ↑ "Home". Ferring Global. Ferring Pharmaceuticals. 2023-06-22. Join us. Retrieved 30 June 2023.[ self-published source ]
  4. ↑ "Les compétences en matière fiscale respectées" [Competences in tax matters respected]. Site officiel du Canton de Vaud (in French). Switzerland. 8 November 2018. Retrieved 30 June 2023.
  5. ↑ "Ferring Acquires Sciatica Candidate from Seikagaku for Up to $95M". Industry news. Genetic Engineering and Biotechnology News. Mary Ann Liebert. 29 August 2016. Retrieved 30 June 2023.
  6. ↑ Meiling, Brittany (5 April 2018). "Ferring buys up PhIII microbiome drug with acquisition of Rebiotix" . Endpoints News. Lawrence, Kansas, United States. Retrieved 30 June 2023.
  7. ↑ "Rebiotix, Inc". Member Directory. Groton, Connecticut, United States: BioCT. 1 October 2022. Retrieved 30 June 2023.
  8. ↑ Taylor, Nick Paul (25 November 2019). "Ferring, Blackstone spin out gene therapy with $570M in funding". FierceBiotech . Retrieved 30 June 2023.
  9. ↑ "Ferring Holding SA". Company Profile and News. Bloomberg News. Address. Retrieved 30 June 2023.
  10. ↑ "Ferring Pharmaceuticals' Biotechnology Centre, Saint-Prex, Switzerland - Pharmaceutical Technology". Pharmaceutical Technology. GlobalData. 5 April 2018. Retrieved 30 June 2023.
  11. ↑ Sørensen, Bent Højgaard (5 December 2015). "Ferring bygger forskningscenter på Amager" [Ferring is building a research center in Amager]. Virksomheder. Berlingske (in Danish). Retrieved 30 June 2023.
  12. 1 2 "Ferring BV". Company Profile and News. Bloomberg News . Retrieved 30 June 2023.
  13. ↑ "Ferring Pharmaceuticals Inc". Company Profile and News. Bloomberg News . Retrieved 30 June 2023.
  14. ↑ "Russia Consulate in Lausanne". www.vd-consulatrusse.ch. Retrieved 2022-03-16.
  15. ↑ "Kazan Federal University visited by Honorary Consul of the Russian Federation in Lausanne Frederik Paulsen". kpfu.ru. Retrieved 2020-08-20.
  16. ↑ "Une société offshore se cache derrière le consulat de Russie". 24 heures (in French). ISSN   1424-4039 . Retrieved 2020-08-20.
  17. ↑ "Frederik Paulsen, un (riche) ami qui vous veut du bien". Le Temps (in French). 2018-09-21. ISSN   1423-3967 . Retrieved 2020-08-20.
  18. ↑ "La justice vaudoise va enquêter sur les voyages de Pascal Broulis". Le Temps (in French). 2018-09-13. ISSN   1423-3967 . Retrieved 2020-08-20.
  19. ↑ "Putin awards underwater polar explorers". Reuters. 2008-02-21. Retrieved 2020-08-20.
  20. ↑ "Die seltsamen Aktivitäten des Konsuls". Tages-Anzeiger (in German). ISSN   1422-9994 . Retrieved 2020-08-20.
  21. ↑ Gould, Mark (2002-01-05). "Drugs company makes false claims over bedwetting drug". BMJ: British Medical Journal. 324 (7328): 9. doi:10.1136/bmj.324.7328.9a. ISSN   0959-8138. PMC   1121981 . PMID   11777792.
  22. ↑ McKee, Selina (2010-05-27). "Ferring falls foul of ABPI Code of Practice". PharmaTimes. Retrieved 2020-08-20.
  23. ↑ "Class 2 Medicines Recall: Ferring Pharmaceuticals Limited, desmopressin nasal spray (all strengths), PL 03194/0024, PL 03194/0090, PL 03194/0056, EL (20)A/29". GOV.UK. Retrieved 2020-08-20.
  24. ↑ "Bravelle Lawsuits". www.classaction.org. 15 May 2017. Retrieved 2020-08-20.
  25. ↑ St Eve, Amy J. "Keith v. Ferring Pharmace | Case No. 15 C 10381. | 20160928e23". Leagle. Retrieved 2020-08-20.
  26. 1 2 "Face aux pharmas, un médecin en résistance". Le Temps (in French). 2020-06-20. ISSN   1423-3967 . Retrieved 2020-08-20.
  27. ↑ "Civil Action No. 8:19-cv-2173" (PDF). United States District Court for the District of Maryland.
  28. ↑ "Ferring Austria".
  29. 1 2 3 businessweek.com: "Pharmaceuticals Company Overview of Ferring Holding SA", retrieved 26 May 2014
  30. ↑ "FDA Approves Rebyota (Fecal microbiota, live-JSLM) Microbiota-Based Live Biotherapeutic for the Prevention of Recurrence of Clostridioides Difficile Infection".
  31. ↑ "FDA approves Ferring's Adstiladrin as first gene therapy for bladder cancer". 22 December 2022.
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