News

Johnson Matthey Set to Catalyze the Net Zero Transition

Johnson Matthey (JM) looks back at a legacy of 200+ years. Established in 1817, the London, England-based chemical company reported annual revenues of about €18 billion in 2022. JM has built a global presence with operations in more than 30 countries. The company’s strategy is based on the vision for a cleaner, healthier world and mirrors society’s need to create a more sustainable future. JM has set out to catalyze the net zero transition by delivering sustainable solutions to customers enabled by innovative technology and leading positions in JM’s key markets automotive, chemicals, and energy. To get a better understanding of the role JM’s technological developments play for a sustainable future, Michael Reubold spoke with Maurits van Tol, the company’s Chief Technology Officer.

Navigating Uncertainty in the Biopharma Market

Biopharma companies are facing funding challenges in 2023 as interest rates rise and investors are becoming more risk adverse. There is hope on the horizon, say some analysts, while others project a prolonged slump due to inflation and global instability. Established pharmaceutical companies are often seen as safer investments, with larger developers expected to perform well in 2023, especially if litigation threats against drugs like Zantac disappear. However, concerns about revenue gaps continue for big companies like GSK and Sanofi, and their strategy and leadership will be closely monitored in the coming months.

Chemical Distributors Can Be Successful Through Change

Positive Vaccine Data Bolster Novavax

The market value of US vaccine maker Novavax is gaining momentum again on the back of promising data the company recently provided on its combined Covid and flu vaccine data.

Bayer and Bicycle in Cancer Collaboration

Bayer and UK biotech Bicycle Therapeutics have agreed to collaborate to develop and commercialize the latter’s radioconjugates for multiple oncology targets.

Lummus Wins Saudi Propane Project

Alujain National Industrial has chosen Lummus Technology’s Catofin propane dehydrogenation (PDH) process for a new propylene plant to be built in Yanbu, Saudi Arabia. The contract marks the first time that Alujain will license Lummus’ PDH technology at the site.

Ashaya: Increasing the Value of Waste & Creating Social Impact

India-based start-up Ashaya focuses on increasing the value of waste and turns this waste into high-quality materials and products that are more recyclable.

H.B. Fuller Acquires UK’s Beardow Adams

US adhesives major H.B. Fuller has acquired Beardow Adams, a UK-based family-owned industrial adhesives manufacturer with capacities in Europe and the US, with a global distribution network and customers in more than 70 countries. Neither terms nor the cost of the purchase have been disclosed.

Messer and BASF Team up on CO2 Recovery

German family-owned industrial gases producer Messer has announced plans to build a carbon dioxide recovery plant at an undisclosed location in Austria, leveraging in part technology from compatriot BASF.

Sweden’s Sobi Agrees Merger with CTI BioPharma

Swedish Orphan Biovitrum (Sobi) has agreed a merger with CTI BioPharma, a US biopharmaceutical company focused on blood-related cancers and rare diseases. Through a wholly owned, indirect subsidiary, Sobi plans to commence a cash tender offer that values CTI at $1.7 billion.

Fujifilm Buys Entegris’ Electronics Chemicals Business

Japan’s Fujifilm has agreed to acquire Entegris’ electronic chemicals business for $700 million. The transaction is expected to close by the end of 2023, subject to regulatory approval and other customary conditions.

Sandoz in Biosimilars Pact with Just – Evotec Biologics

As Novartis moves toward shedding generics subsidiary Sandoz, which it touts as a global leader in off-patent generic and biosimilar drugs, Sandoz has agreed a multi-year strategic partnership with Just –Evotec Biologics, the Seattle, Washington-based US subsidiary of Germany’s Evotec, to develop and manufacture biosimilars.

TotalEnergies Acquires Iber Resinas

TotalEnergies has acquired Spanish mechanical recycling company Iber Resinas for an undisclosed sum. The French energy, chemicals and plastics company said the acquisition will increase its production of circular polymers in Europe, extend its range of recycled products and enhance its access to feedstock through Iber Resinas’ network of suppliers.

Braskem and Novonor Confirm Private Equity Bids

Braskem and its controlling shareholder Novonor (formerly known as Odebrecht) have now confirmed a takeover offer from private equity investors Apollo and Abu Dhabi National Oil Company (ADNOC) for Novonor’s shares in the Brazilian petrochemicals and plastics producer.

Gingko Enters Dyes and Drugs Partnerships

US biology company Ginkgo Bioworks has announced two separate partnerships, one on natural colors and dyes with Octarine Bio and the other on novel therapeutic molecules with drugmaker Boehringer Ingelheim.

Wacker Buys All of ADL BioPharma from Private Equity

German chemical group Wacker has acquired 100% of ADL Biopharma from private equity investor Kartesia for a price said to exceed €100 million. It now owns the entire 150,000 m2 production site in the northern Spanish city of Léon with fermentation capacity of just under 3,000 cbm (gross volume).

Baxter Sells BioPharma to Private Equity

Confirming media reports, Baxter International announced it has agreed to sell its BioPharma Solutions (BPS) business to a private equity consortium of Warburg Pincus and Advent International for $4.25 billion in cash.

Air Products and AES Link on Green Hydrogen Plant

US industrial gases producer Air Products and energy group AES are teaming up to build, own and operate a green hydrogen plant in Wilbarger County, Texas, in the northern part of the state.

Canlak Coatings Expands US Presence with Ceram-Traz Buy

Canlak Coatings, owned by private equity group SK Capital Partners, has acquired Ceram-Traz, also known as Ceramic Industrial Coatings, for an undisclosed sum.

Private Equity Steps up for Baxter Biopharma

A private equity consortium of Warburg Pincus and Advent International is said to be in advanced talks to acquire medical device maker Baxter International’s biopharma solutions business. The deal could be worth $4 billion or more, news agencies and the newspaper Wall Street Journal reported.

IMCD Seals Two Acquisitions and a Distribution Deal

Rotterdam-based speciality chemicals distributor IMCD kicked off the month of May agreeing a major distribution partnership and two outright acquisitions.

Siegfried Takes Majority Stake in Dinamiqs

Swiss CDMO Siegfried has acquired a 95% stake in Dinamiqs, a compatriot biotech focused on developing and manufacturing viral vectors for cell and gene therapies.

OQ Chemicals Starts up Esters Pilot Plant

OQ Chemicals has successfully started up its new pilot plant for esters at Oberhausen, Germany. The company said the facility enables it to manufacture small quantities of esters tailored to customer needs for test purposes before making an industrial-scale investment.

PCAS in Exclusive Talks for Sale of Canada Business to Japan’s DIC

PCAS, a French specialist in complex molecules for the life sciences and specialty chemicals markets, has received an offer for its Canadian subsidiary from Japanese chemicals company DIC.

Technip and John Cockerill Launch Hydrogen Venture

French engineering and technology contractor Technip Energies and Belgian mechanical engineering group John Cockerill have launched green hydrogen company Rely.

Chemical Distribution in China

The Chinese chemical distribution market is very likely the largest in the world. To be successful in this competitive market, foreign distributors in particular need to consider some important aspects.

Glenfarne and Samsung Link on Chile Hydrogen Fuels

US energy and infrastructure developer Glenfarne Energy Transition has entered into a collaboration with South Korean contractor Samsung Engineering to conduct feasibility studies for multiple green hydrogen and ammonia projects in Chile.

Germany’s Merck Signs MoU on Korean Biotech Hub

Germany’s Merck said this week it has signed a non-binding Memorandum of Understanding (MoU) with South Korea’s Ministry of Trade, Industry and Energy (MOTIE), and Daejeon City to establish a new Asia-Pacific BioProcessing Center.

Proposed EU Ban on Lead in PVC Adopted

Within the framework of the REACh chemicals legislation, the European Commission said it is implementing previously discussed restrictions on the use of PVC in finished products to protect people and the environment from the toxic effects of lead.

NextChem Takes Majority Stake in MyRemono

NextChem, part of Italian engineering group Maire Tecnimont, has paid €6.12 million to take a 51% stake in MyRemono, a new company set up with partner Biorenova, which holds the remaining 49%.

CordenPharma Expands at US Site in Colorado

CordenPharma is expanding strategically into synthetic oligonucleotide manufacturing at its plant at Boulder in the US state of Colorado. The two-phase investment is designed to provide innovative biotech and pharma customers with a fully integrated API to Drug Product service offering.

Syngenta Acquires Australian Weed Management Specialist

Syngenta Crop Protection has bought Macspred Australia, a specialist in weed management for the forestry, roads, rail, utilities and infrastructure sectors.

DuPont to Acquire Spectrum Plastics Group

DuPont has agreed to pay US private equity firm AEA Investors $1.75 billion to acquire Spectrum Plastics Group, a small specialty plastics company based in Atlanta, Georgia. The price is a 15.6x multiple on Spectrum’s forecast 2023 EBITDA.

LyondellBasell Takes Veolia’s Recycling JV Stake

LyondellBasell said it plans to acquire Veolia Belgium‘s stake in the joint venture Quality Circular Polymers (QCP), which has recycling facilities in Belgium and the Netherlands. Currently, the Paris-headquartered waste management group supplies soiled plastic waste to the recycling units, a role it will continue on an independent basis.

Versalis Takes Control of Novamont

Versalis is taking full control of renewables specialist Novamont by acquiring the 64% stake held by joint venture partner Mater-Bi, which is held by equity funds Investitori Associati II and NB Renaissance.