US oil and gas producer Occidental Petroleum has agreed to acquire Canadian climate solutions company Carbon Engineering for $1.1 billion, a developer of technology for large-scale direct air capture (DAC).
UK-based Astex Pharmaceuticals, specialized in the discovery and development of novel small molecule therapeutics for oncology and diseases of the central nervous system, announced an exclusive worldwide research collaboration and license agreement with US drugmaker MSD (in the US, the company trades as Merck & Co).
AGC Biologics, a biopharma CDMO, has completed the expansion of its manufacturing capacity at the company’s Cell & Gene Center of Excellence in Milan, Italy.
The US FDA approved Akeega and Talvey late last week. Phase 3 trials validated Akeega's use in the treatment of patients with BRCA-positive prostate cancer. Talvey is authorized for patients with heavily pretreated multiple myeloma.
Braskem, a major Brazilian petrochemicals company, may be forced to sell some assets to deleverage if economic conditions worsen in coming months, says US credit rating agency S&P.
Danish drugmaker Novo Nordisk has agreed to acquire Montreal, Canada-based Inversago Pharma. The transaction is worth up to $1.075 billion in cash if certain development and commercial milestones are achieved, the companies said in a statement.
Thyssenkrupp Uhde has won a contract by Australian renewable energy company Ark Energy to carry out a feasibility study to support the development of the Han-Ho H2 Hub project. Ark Energy is leading the Han-Ho H2 Consortium involving three of Korea’s largest conglomerate groups including Hanwha Impact, Korea Zinc and SK Gas.
The fallout from Russia's war with Ukraine is having a lasting impact on almost every market, including plastics in Europe, with inflation, low demand, and uncertainty. To gauge this uncertainty, PIE conducted its 10th Market Survey with almost 200 participants from across the European plastics industry.
Swedish venture capital firm EQT is selling pharmaceutical company Schülke & Mayr to a consortium led by Athos, the family office of Hexal founders and Biontech shareholders Andreas and Thomas Strüngmann.
Toray Advanced Materials Korea is reviewing its film line expansion in South Korea as part of a capital expenditure plan for this year valued at ₩300 billion (€209 million). This is in contrast to other chemical companies that have stalled investments due to the current economic landscape.
Pharmaceutical group Roche and Japanese diagnostics company Sysmex are expanding and extending their existing long-standing partnership. Under the renewed terms of the non-inclusive agreement, Roche will continue to offer Sysmex's hematology products, which complement the company's laboratory solutions portfolio, they said in a statement yesterday.
Fluor has been awarded a €444 million ($487 million) biotech expansion project in Denmark and is in the first phase of a new life sciences production facility in the US valued at €523 million ($574 million). The two contracts will be recognized in the Q2 backlog.
Japan-based specialty chemicals manufacturer Toyo Ink has signed an agreement to invest in US-based biotech company VLP Therapeutics (VLPT) and its subsidiary company VLP Therapeutics Japan (VLPT Japan). Financial details of the agreement were not revealed.
AkzoNobel has completed the acquisition of Sherwin-Williams’ Chinese decorative paints business, including the widely known Chinese Huarun brand.
Rotterdam-based specialty chemicals distributor IMCD has agreed to acquire 100% of the shares of Sachs Chemical, headquartered in San Juan, Puerto Rico.
Finnish contract development and manufacturing organization (CDMO) Biovian, specializing in biopharmaceuticals, is investing more than €50 million to expand its manufacturing facility in Turku, Finland.
Biogen and Reata Pharmaceuticals announced late last week that Biogen has agreed to acquire Reata for €156.51 per share in cash, reflecting an enterprise value of approximately €6.6 billion.
Alexion, AstraZeneca's rare disease division, has agreed to buy a portfolio of preclinical gene therapy programs and enabling technologies from competitor Pfizer for up to $1 billion, plus tiered royalties on sales.
French plant ingredients supplier Roquette, which is also is a leading player in naturally-derived pharmaceutical excipients, has agreed to acquire Qualicaps, a producer of hard capsules and pharmaceutical processing equipment for oral dosage.
Braskem has completed the expansion of production capacity for its biobased ethylene plant in the petrochemical complex of Triunfo, Rio Grande do Sul, Brazil.
Compared with Q2 last year AkzoNobel, a coatings and sustainable paints company, saw revenue 4% down on unfavorable exchange rates, 3% up in constant currencies, and considerable increases in both its operating income and net cash from operating activities.
Swiss pharmaceutical company Roche will collaborate with Cambridge, Massachusetts-based US biotech Alnylam Pharmaceuticals to further develop its drug zilebesiran for the treatment of hypertension. The therapeutic, which is in Phase 2 clinical trials, uses the cellular mechanism RNA interference (RNAi) for targeted gene silencing.
Over 30 drugs, including painkiller fentanyl and anesthetic lidocaine, may see disruptions in supply after a tornado destroyed a warehouse at Pfizer's Rocky Mount facility in North Carolina, US, last week.
Bayer adjusted its full-year outlook for 2023 downward, mainly due to a significant further decline in sales of glyphosate-based products. The group has thus joined the ranks of chemical companies that have cut their annual targets in recent days and weeks.
SK Biopharmaceuticals, a South Korean-based biotech, has announced its new strategy to propel the company towards becoming a global “big biotech.”
Zeta, an Austrian engineering specialist for biopharmaceutical process plants, acquired a 20% share in Swiss company CB Consultancy. The transaction was completed by Jul. 14, 2023.
Gelest, a Mitsubishi Chemical Group company, recently broke ground on its latest production facility. The new facility is 4,600 square meters and is located at Galest’s global headquarters in Morrisville, PA. Completion of the facility is expected by Sept. 2024. The new facility enhances Gelest’s production capabilities in various customer applications such as microelectronics, medical devices, and advanced thermal coatings.
Block Solutions is a Tampere, Finland-based company that has developed environmentally friendly block-modules made of recycled plastics or in combination with local excess raw materials.
CEFIC, the European Chemical Industry Council, expects the EU27 chemical production to decline by about 8% in 2023 compared to the previous year, with no imminent recovery of chemical demand in Europe.
Upperton Pharma Solutions, a UK contract development and manufacturing organization (CDMO), has completed construction of its new development and GMP manufacturing headquarters in Nottingham, UK. The company said it has invested £15 million in the new 50,000-square-foot facility.
Major drugmaker Eli Lilly has agreed to acquire Versanis Bio, a privately held obesity drug maker, for up to $1.925 billion. The transaction is subject to customary closing conditions.
Chinese contract research, development, and manufacturing organization (CRDMO) Wuxi Biologics announced the planned spin-off and separate listing of its subsidiary WuXi XDC on the Hong Kong Stock Exchange. Upon completion of the proposed listing, Wuxi XDC will remain a consolidated subsidiary.
ExxonMobil has acquired Denbury, a carbon capture, utilization, and storage (CCUS) and enhanced oil recovery company. The all-stock transaction is valued at €4.5 billion.
BP will develop two offshore wind projects as its entry into Europe's offshore wind market. The North Sea sites, with a 4GW total potential generating capacity, will be located 130 and 150 km offshore at 40 m depths.
KHUA plans to build a production plant for high-quality powder coatings in Zhanjiang and concludes a supply agreement for the precursor neopentyl glycol with BASF.
