AGC Biologics Completes Expansion at Milan Site
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.
News
Johnson & Johnson Receives Two Cancer Drug Approvals
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.
Brazil’s Braskem Q2 Earnings Down, Possible Divestment Needed
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.
Novo Nordisk to Acquire Inversago Pharma
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 to Conduct a Feasibility Study for the Han-Ho H2 Hub Project
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.
Inflation and Uncertainty in European Plastics Industry
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.
Investor EQT Sells Schülke to a Consortium Led by Athos
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 Considers Film Line Expansion
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.
Roche and Sysmex Expand Long-Term Alliance
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 Awarded Nearly €1 Billion in Life Science Contracts
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.
Toyo Ink Invests in Biotech Company VLP Therapeutics
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 Completes Acquisition of Sherwin-Williams’ Chinese Decorative Paints Business
AkzoNobel has completed the acquisition of Sherwin-Williams’ Chinese decorative paints business, including the widely known Chinese Huarun brand.
IMCD Acquires Puerto Rican Distributor Sachs Chemical
Rotterdam-based specialty chemicals distributor IMCD has agreed to acquire 100% of the shares of Sachs Chemical, headquartered in San Juan, Puerto Rico.
Finnish CDMO Biovian Expands its Facility in Turku
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 Acquires Reata Pharmaceuticals
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.
AstraZeneca Acquires Early-stage Gene Therapies from Pfizer
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.
Roquette to Acquire Qualicaps
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 Expands its Brazilian Biopolymer Production Plant
Braskem has completed the expansion of production capacity for its biobased ethylene plant in the petrochemical complex of Triunfo, Rio Grande do Sul, Brazil.
AkzoNobel's Q2 Results Show Resilient Volumes and Increased Profits
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.
Roche Teams up with Alnylam for Antihypertensive Drug
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.
Pfizer Warns of Drug Supply Disruption Following US-Tornado
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 Lowers its Targets for the Year 2023
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 Aims to Become 'Big Biotech'
SK Biopharmaceuticals, a South Korean-based biotech, has announced its new strategy to propel the company towards becoming a global “big biotech.”
Zeta Acquires 20% Stake in CB Consultancy
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 Breaks Ground on New Production Facility
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: a Sustainable and Affordable Way of Building Houses
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.
EU Chemical Production on the Downward Slope
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 Completes Construction of New Development and Manufacturing Site
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.
Lilly to Acquire Obesity Drug Maker Versanis
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.
Wuxi Biologics Plans Spin-off and Separate Listing of Wuxi XDC
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 Acquires Denbury Valued at €4.5 Billion
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 Wins €6.8 Billion Contract to Build Two Wind Farms off the German Coast
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.
BASF and Polyester Resin Producer KHUA Cooperate in China
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.
Olon Appoints Maurizio Sartorato as Vice President of Biotech Division
Maurizio Sartorato has joined international API supplier Olon as Vice President of the group's Biotech division. In his new role, he will be a member of Olon’s leadership team.
Martin Fischer to Become Chief Financial Officer of Fresenius Medical Care
Germany-headquartered healthcare company Fresenius Medical Care has appointed Martin Fischer as its new chief financial officer, effective Oct. 1, 2023.
