Following its long-term goal of extracting itself from a challenging operating environment in the Niger Delta, Shell agreed to sell its Nigerian onshore subsidiary Shell Petroleum Development Company of Nigeria (SPDC) to Renaissance, a consortium of five companies comprising four exploration and production companies based in Nigeria and an international energy group, for $1.3 billion.
International Flavors & Fragrances (IFF) has appointed J. Erik Fyrwald as next CEO and member of the company’s board of directors, effective Feb. 6, 2024. He will succeed Frank Clyburn, who will remain with the IFF until the end of March and will continue to work in an advisory capacity until December 2024.
China-headquartered contract research, development and manufacturing organization (CRDMO) WuXi Biologics plans to increase the manufacturing capacity of its US facility in Worcester, Massachusetts to 36,000 l, 12,000 l more than the originally planned 24,000 l.
Solenis to invest €176 million ($193 million) in City of Suffolk facility expansion. The company will build a new 7430-square-meter (80,000-square-foot) production facility, packaging facility, and tank farm. This new facility will be used to grow the existing polymer product line and add additional capacity of this critical monomer to the existing supplier.
French chemical producer Arkema announced that it will become a shareholder of Tiamat, a start-up that designs, develops, industrializes and markets sodium-ion batteries, a new lithium-free technology. Tiamat was spun off from the Centre National de la Recherche Scientifique (CNRS) in 2017.
Nouryon has completed a production capacity expansion of nearly 50% for its Levasil colloidal silica products at its US manufacturing facility in Green Bay, Wisconsin.
Global specialty chemicals group Altana has announced to acquire Silberline, a US company that specializes in developing and manufacturing aluminum effect pigments utilized in various applications, ranging from automotive coatings and printing inks to plastics, protective coatings, and packaged consumer goods.
Isomorphic Labs announced strategic collaborations with leading pharmaceutical companies, Eli Lilly and Company and Novartis. These partnerships have the potential to be worth nearly €2.75 billion ($3 billion) to Isomorphic Labs, excluding any royalties that may result from future drug sales. Both collaborations are multi-target, focused on small molecules, and include a combination of upfront and milestone payments.
GSK has agreed to acquire biotech Aiolos Bio for a $1 billion upfront payment and up to $400 million for the achievement of certain milestones. Founded just last year, Aiolos is a San Francisco, USA and London, UK-based biopharmaceutical company that develops treatments for respiratory diseases.
Johnson & Johnson has entered into a definitive agreement to acquire Ambrx, a clinical-stage biopharmaceutical company with a proprietary synthetic biology technology platform to design and develop next-generation antibody-drug conjugates (ADCs). The all-cash merger transaction for a total equity value of approximately €1.8 billion ($2.0 billion), or €1.75 billion ($1.9 billion) net of estimated cash acquired.
US Merck & Co., known as MSD outside of North America, intends to buy cancer drug developer Harpoon Therapeutics for $23.00 per share in cash for an approximate equity value of $680 million.
IMCD has appointed Fenna van Zanten, IMCD Group Director, Mergers & Acquisitions (M&A), and Andreas Igerl, President, IMCD APAC, as new members to its executive committee, effective Jan. 1, 2024.
CordenPharma and pHLIP have announced their strategic alliance to collaborate in developing and commercializing the pHLIP-LNP targeted delivery platform for RNA-based and genetic therapeutics.
EuroAPI has appointed Ludwig de Mot as chief transformation officer and executive vice president (EVP).
Arcadium Lithium announced the completion of the all-stock merger of equals between Allkem and Livent. With roughly $1.9 billion of combined total revenue in 2022 and a global team of more than 2,600 employees, the new, combined company is one of the largest integrated producers of lithium chemicals.
Japan’s AGI Group, a producer of scientific precision glassware, has acquired flow chemistry company Chemtrix, based in Echt, the Netherlands. Chemtrix’s flow reactor portfolio delivers increased process safety, reduced operating costs and new chemical possibilities at scales ranging from milligrams in the lab through to tons for manufacturing.
Water treatment chemicals company Usalco has acquired the coagulant manufacturing business of Brenntag Southwest, a US subsidiary of Germany-headquartered chemical distributor Brenntag. Terms of the transaction, including the purchase price, were not disclosed.
US drug manufacturer Eli Lilly has completed its acquisition of radiopharmaceutical company Point Biopharma for approximately $1.4 billion.
AstraZeneca has agreed to acquire Gracell Biotechnologies, a Chinese developer of cell therapies for the treatment of cancer and autoimmune diseases, for up to $1.2 billion. Only on Dec. 12, 2023, AstraZeneca announced that it was planning to acquire Icosavax for $1.2 billion.
Bristol Myers Squibb will acquire RayzeBio for a total equity value of approximately $4.1 billion, or $3.6 billion net of estimated cash acquired. The transaction was unanimously approved by both the Bristol Myers Squibb and RayzeBio Boards of Directors.
Barentz has acquired Radian in India, reinforcing its product portfolio with color cosmetic ingredients. The move anticipates substantial growth in the Asia Pacific region. Radian's CEO, Manoj Botadra, and the current team will continue to manage operations, ensuring a smooth transition.
Bristol Myers Squibb (BMS) and Karuna Therapeutics have entered into a definitive merger agreement under which the US drug maker has agreed to acquire the Boston-based biopharmaceutical company for a total equity value of $14.0 billion, or $12.7 billion net of estimated cash acquired. The transaction was unanimously approved by both the BMS and Karuna Boards of Directors.
Gilead has exclusive rights for the advancement and commercialization of anti-IL18 binding protein antibodies targeting various tumor types. Gilead commits to a significant deal, including a €55 million ($60 million) upfront payment and a €27 million ($30 million) milestone payment in the near term, with a total potential value of up to €775 million ($848 million).
Swiss Biosynth, a supplier of raw materials to the life science industry, has acquired VIO Chemicals, a Zurich, Switzerland-based company with leading chemical R&D expertise and a global network of large-scale manufacturing partners. Financial details of the transaction have not been disclosed.
Dutch fertilizer and industrial chemicals group OCI Global has agreed to sell 100% of its equity interests in its US nitrogen fertilizer facility Iowa Fertilizer Company (IFCO), located in Wever, Iowa, to Koch Ag & Energy Solutions (KAES) for $3.6 billion.
Iktos, a French company specialized in artificial intelligence (AI) for new drug design, and Bayer’s Crop Science division announced a collaboration to expand the use of AI in the discovery and development of new sustainable crop protection products.
Abu Dhabi National Oil Company (ADNOC) has agreed to acquire OCI Global's entire majority stake in fertilizer producer Fertiglobe for $3.62 billion. Fertiglobe is a joint venture established in October 2019 between the state-owned oil company of the United Arab Emirates (UAE) and the Dutch fertilizer and industrial chemicals group.
Samyang Holdings has acquired the management rights of the U.S.-based specialty chemical manufacturer Verdant Specialty Solutions from private equity firm OpenGate Capital. The total acquisition was approximately €230 million ($250 million).
US API maker Veranova has appointed Lucas Sauer-Jones as the company’s vice president & general manager, New England. He will be responsible for Veranova’s sites in Devens and North Andover.
AstraZeneca has entered into an agreement to acquire Icosavax, a US biopharmaceutical company based in Seattle in a deal worth up to $1.1 billion. The company focuses on the development of differentiated vaccines with high potential using an innovative virus-like protein (VLP) particle platform.
Japan’s Sumitomo Chemical has completed the construction of a pilot facility using a highly efficient process for producing methanol from CO2 at its Ehime Works facility, located in Niihama City, Ehime Prefecture, Japan, and has started operations at the facility.
SABIC, Scientific Design (SD), and Linde Engineering have signed a Memorandum of Understanding to collaborate on decarbonizing the SD Ethylene Glycol Process.
BASF has completed its capacity expansion for key specialty amines manufactured at its US site in Geismar, Louisiana. The project, announced in June 2022, allows the company to increase production of polyetheramines and amine catalysts marketed under the Baxxodur and Lupragen brands.
PGNIG Upstream Norway (PUN), part of Polen's Orlen, has signed an agreement with Horisont Energi to acquire a 50% stake in the CO2 exploration license Polaris in the Barents Sea and become its operator. The transaction, Orlen said, marks a significant step in advancing the group’s emerging business line focused on the management of industrial CO2 emissions.
On January 1, 2024, Anna Bertona will take on the role of Group CEO, succeeding Hans Joachim Müller, who will retire after serving more than 11 years in that role. Ralf Kempf asked Müller and Bertona about the foundations for the group's continued success and plans for its future strategic direction.
