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.
News
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.
Thermo Fisher Scientific to Buy CorEvitas
US scientific services supplier Thermo Fisher Scientific has agreed to acquire CorEvitas, a provider of registry data and analytic services, from Audax Private Equity for $912.5 million in cash. The transaction, which is expected to be completed by the end of 2023, is subject to customary closing conditions, including regulatory approvals.
Teva Contemplates Selling $2 Billion Active Ingredients Division
Teva Pharmaceuticals considers selling its $2 billion active pharmaceutical ingredients (API) unit as part of its "Pivot to Growth" strategy.
Shell CEO Contemplates US Move Amidst UK Windfall Taxes
Shell CEO, Wael Sawan, contemplates another headquarters move amidst the introduction of windfall taxes in the UK. Questions about the state of production and energy costs are also of concern.
Thyssenkrupp Uhde Wins Contract for BASF’s Surfactant Plant in Thailand
The Thailand branch of German engineering contractor Thyssenkrupp Uhde has won a contract by BASF to provide engineering services and proprietary equipment supply for its new non-ionic surfactant (NIS) plant at its Zhanjiang Verbund Site Project in Guangdong Province, China.
Solenis Acquires Diversey for $4.6 Billion
Solenis, a specialty chemicals manufacturer for water-intensive industries, has completed its acquisition of Diversey, a hygiene and cleaning products provider, in an all-cash transaction valued at ~ $4.6 billion.
Deteriorating Business Landscape Casts a Shadow on Germany's Chemical Industry
A survey published by the Ifo economic institute indicates that the German chemical industry fell significantly in June.
LyondellBasell Acquires Mepol Group for Advanced Polymer Solutions
LyondellBasell, a global leader in polymer and polyolefin technologies, has successfully acquired Mepol Group, a manufacturer of high-performing recycled compounds based in Italy and Poland.
Avantium and SCGC Partner on CO2-based Polymers
Avantium, a technology provider in renewable chemistry, has agreed to partner with SCG Chemicals (SCGC), an integrated chemical player and innovator in Asia, to further develop CO2-based polymers and to scale-up to a pilot plant with an indicative annual capacity of 10 t.
BASF and Yara Clean Ammonia to Study US Project
BASF and Yara Clean Ammonia (YCA), a unit of Norwegian fertilizer producer Yara, have teamed up on a joint study to develop and build a world-scale low-carbon blue ammonia production facility with carbon capture in the US Gulf Coast region.
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.
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.
Novartis Divests Ophthalmology Assets to Bausch + Lomb for Up to $2.5 Billion
Novartis has signed an agreement to divest its 'front of eye' ophthalmology assets to Bausch + Lomb, a global eye health company. The transaction is valued at up to $2.5 billion, which marks a strategic move to focus on innovative medicines and growth opportunities.
CSPC Pharmaceutical and Pfizer to Launch Local Brand of Paxlovid in China
Chinese drugmaker CSPC Pharmaceutical announced on Jun. 28, 2023, that it has signed a strategic partnership agreement with Pfizer to launch a local brand of the Covid-19 oral therapeutic treatment Paxlovid in China. The goal is to improve access to this treatment in China.
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.
