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04.07.2023 • News

AstraZeneca and Daiichi Sankyo's Lung Cancer Drug Shows Promise, Shares Fall

Results from AstraZeneca and Daiichi Sankyo’s datopotamab deruxtecan clinical trials were released this week. The antibody drug, also known as Dato-DXd, was developed in partnership between the two companies and aims to help patients with the most common lung cancer live longer without worsening their condition when compared to standard treatments. However, the announcement fell short of expectations, leading to a decline in AstraZeneca's shares. 

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03.07.2023 • News

Abcam Attracts Interest from US Life Sciences Giants

Abcam, a biotech supplier, has garnered interest from major US life sciences companies Danaher and Agilent as it explores its potential sale. The company has also approached Germany’s Merck and attracted attention from large buyout firms, say sources of Bloomberg.

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30.06.2023 • News

Solvay in $393 Million PFAS Deal with New Jersey

Belgian chemical major Solvay has reached a $393 million deal with the US state of New Jersey to remedy contamination from poly- and per-fluorinated alkyl substances (PFAS) – also known as “forever chemicals – caused by its subsidiary Solvay Specialty Polymers.

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30.06.2023 • News

Arkema Takes Majority Stake in PI Advanced Materials

French specialty chemicals company Arkema plans to acquire the 54% majority stake held by Glenwood Private Equity in South Korea-listed PI Advanced Materials (PIAM) for €728 million and fully consolidate the holding. The remaining 46% of equity will continue to be listed in South Korea.

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30.06.2023 • News

Germany’s Merck Expanding Reagents in China

As part of an agreement with China’s Nantong Economic and Technological Development Area (NETDA), Germany’s Merck said it plans to spend €70 million to expand production capacity for highly-purified reagents at its site in the Chinese city of the same name, a major transportation hub in the Yangtze River Delta region.

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29.06.2023 • News

Ineos Charters Two LNG Carriers for Shipping US Gas

Ineos Energy, one of the newer units in Jim Ratcliffe’s growing portfolio of chemicals and related holdings, has signed dual agreements with Japanese shipbuilder Mitsui O.S.K. Lines (MOL) for two very large LNG carriers it plans to use to transport US-produced liquefied natural gas to Germany.

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29.06.2023 • News

EPA Ends Louisiana Environmental Justice Probe

Due to considerations likely to reflect objections not only from the chemical industry, the US Environmental Protection Agency (EPA) and the US Department of Justice have pulled a much-heralded campaign for environmental justice in the state of Louisiana.

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29.06.2023 • News

Grupa Azoty Starts New PP Plant in Poland

Polish chemicals and plastics producer Grupa Azoty has started up what it says is the first new polypropylene plant to be built in Europe in 15 years, while also realizing one of the largest investments in the European chemical industry.

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28.06.2023 • News

Covestro Seals first US Renewable Energy Pact

German engineering plastics producer Covestro has signed a 90 megawatt (MW) virtual power purchase agreement (vPPA) with Danish renewables producer Ørsted for its US site at Baytown, Texas.

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27.06.2023 • News

Six States Join FTC Lawsuit to Block Amgen-Horizon

Six US states – New York, California, Illinois, Wisconsin, Minnesota and Washington – have joined the Federal Trade Commission's lawsuit to block Amgen's proposed nearly $28 billion acquisition of Horizon Therapeutics.

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27.06.2023 • News

3M to Pay $10.3 Billion for PFAS Claims Resolution

3M has agreed to pay $10.3 billion to resolve legal challenges brought against the company by US public water systems over its discharges of polyfluoroalkyl substances (PFAS) into US waterways. The deal is subject to approval by a US federal court.

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26.06.2023 • News

H.B. Fuller Completes Two Strategic Acquisitions

H.B. Fuller, which bills itself as the world’s largest pure-play adhesives provider, has announced the completion of two strategic acquisitions that it said will accelerate the transformation of the US company’s portfolio toward more highly specified applications and enhance diversification of its Construction Adhesives (CA) business.

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26.06.2023 • News

Ultragenyx Opens Gene Therapy Manufacturing Plant

US biopharma Ultragenyx Pharmaceutical has opened a gene therapy manufacturing facility in Bedford, Massachusetts, USA. The company said it is one of the first in the US with complete end-to-end gene therapy capabilities, from R&D through to therapeutic production at scale.

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23.06.2023 • News

US Senators Seek Answers on Drug Shortages

In what is being billed as a bipartisan effort to address shortages along the US pharmaceutical supply chain, two senators — one Democrat, one Republican — have introduced legislation that calls for an investigation of the problems and development of a plan to reduce the country’s dependence on imported drugs.

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23.06.2023 • News

Enzene Biosciences Plans Biopharma Campus in USA

Indian CDMO Enzene Biosciences — a subsidiary of Alkem Laboratories — is to build a biopharmaceutical manufacturing plant on the Princeton West Innovation Campus in Hopewell, New Jersey, USA.

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23.06.2023 • News

Covestro Said to Reject ADNOC Buyout Offer

German engineering plastics producer Covestro has rejected an initial takeover proposal from Abu Dhabi National Oil Co (ADNOC) as too low, the Bloomberg news agency reports, citing “people familiar with the matter.”

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22.06.2023 • News

Lilly Boosts Immunology with Dice Buy

Major drugmaker Eli Lilly is to pay up to $2.4 billion to acquire Dice Therapeutics, a US biotech specializing in developing oral medicines to treat chronic autoimmune and inflammatory diseases.

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22.06.2023 • News

Lanxess Warns on Earnings as Buyout Talk Circles Covestro

Two former spinoffs from Bayer were competing for headlines on Jun. 19 and 20, as specialty chemicals company Lanxess issued a profit warning amid rumors that Middle East chemicals and energy behemoth Abu Dhabi National Oil Company (ADNOC) had made a takeover offer for engineering plastics producer Covestro.

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21.06.2023 • News

Neste Spearheads Finnish Hydrogen Valley Plans

On behalf of the Finnish government, refiner Neste is spearheading the development of a so-called industrial hydrogen valley in the country’s Uusimaa region. Other participants in the recently begun exploratory studies include energy utilities Gasgrid Finland, Helen and Vantaa Energy.

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20.06.2023 • News

BASF Breaks ground for Zhanjiang PE Plant

BASF has broken ground for its new 50,000 t/y polyethylene plant due to go on stream at its integrated production site in Zhanjiang, China, in 2025. The new facility will be its first PE unit in the People’s Republic.

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19.06.2023 • News

Shell Reviews Singapore, Europe Assets

Shell is reviewing operations in Singapore, with a view to repurposing, selling or decommissioning assets in Bukom and Jurong Island. The energy and chemicals giant will also “high-grade and right-size” its energy and chemicals parks in Europe, which could mean plant closures.

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19.06.2023 • News

IMCD Boosts Singapore, Vietnam Presence with Brylchem Buy

IMCD has agreed to buy Brylchem Group, comprising Brylchem in Singapore and Chemipac and CMS Marketing Trading in Vietnam. Brylchem has roughly 50 employees and generated revenue of about €58 million last year. The transaction is expected to close in the fourth quarter of 2023.

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19.06.2023 • News

Bayer Pays $6.9 Million to Settle Roundup Advertising Claims

Bayer has agreed to pay nearly $7 million to settle false advertising claims alleged by New York’s state attorney general. The state said the German agrochemicals and pharma group misled consumers by asserting that its Roundup herbicide is harmless and safer than soap or detergent.

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