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Myrexis, a biotech company developing small molecule compounds with novel chemical structures and distinct mechanisms of action, has decided to keep its interim president and CEO, Robert Lollini, in place as permanent CEO and a member of the board. Mr Lollini was also previously the company's CFO, a role which has now been filled by Andrea Kendell. Mr Lollini joined Myrexis in 2009 from Iomed, and Ms Kendell, who previously served at Moog Medical Devices Group, was most recently Myrexis' vice-president of finance and human resources.
The drug delivery device industry is on track to reach almost $23 billion by the year 2011, and the fastest growth will come from the transdermal sector. According to a recent Windhover Information/Medtech Insight report, transdermal delivery technologies will build up to sales of $4.6 billion by 2011. Pharma's increasing fondness for macromolecules will fuel that growth, as will the perennially hot market for transdermal formulations of pain drugs.
Brief summaries of recent product and company developments in the device industry, including: developments in continuous glucose monitoring, new liability conerns for device companies, medtech acquisitions in 2007, and the 2008 IPO market.
Transdermal drug delivery has come a long way since the first patch for seasickness. In a drug delivery device industry on track to reach almost $23 billion by the year 2011 (according to "US Markets for Drug and Fluid Delivery Devices," published in October 2007 by Windhover Information's Medtech Insight division) the transdermal sector will grow at a faster rate than injection or inhalation drug delivery systems. Transdermal delivery technologies will grow at a compound annual rate of more than 11% over the next four years, building up to sales of $3.5 billion in the year 2011.
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