Pfizer has agreed to acquire Seagen, a global biotech focused on developing cancer treatments, for $43 billion. The announcement comes just a couple of weeks after the Wall Street Journal reported that the two companies were in talks.
Paris-based French drugmaker Sanofi has agreed to acquire Provention Bio for $25 per share in cash, representing an equity value of about $2.9 billion. The publicly traded US biopharma focuses on intercepting and preventing immune-mediated diseases including type 1 diabetes (T1D).
US biopharma Sumitovant – a wholly owned subsidiary of Japan’s Sumitomo Pharma – has closed its purchase of the remaining equity in Myovant Sciences, taking full control of the Swiss clinical-stage biopharma for about $1.7 billion. Myovant will now be delisted from the New York Stock Exchange.
As the discussion surrounding the high price of insulin in the US continues unabated, drugmaker Eli Lilly implemented price reductions of 70% for its most commonly prescribed insulin products at the beginning of March.
LyondellBasell has entered into a definitive agreement to acquire Mepol Group, a manufacturer of recycled, high-performing engineering compounds based in Italy and Poland.
Finnish technology and engineering company Coolbrook has signed a partnership agreement with Germany’s Linde Engineering to develop and deploy its RotoDynamic Reactor (RDR) technology that replaces fossil fuels with clean electricity for heating the furnaces in ethylene crackers.
In the presence of Danish royalty, Ineos and Wintershall Dea, lead players in 23-member Project Greensand consortium, last week inaugurated what is being touted as the world’s first safe injection of carbon dioxide – into a depleted North Sea oil field operated by Ineos.
Clinical stage biotechs Adaptimmune and TCR2 Therapeutics have agreed to merge, forming what they said would be a “preeminent cell therapy company focused on creating solid tumors” with projected sales of about $27 billion by 2026.
Gas shipping company Navigator Holdings is expanding the capacity of its ethylene export terminal near Houston, Texas, USA, that it operates as a 50:50 joint venture with Enterprise Products Partners.
The mood of the German chemical industry brightened at the beginning of 2023 on the back of a sharp downslide in the last quarter of 2022, when production slumped by 14%, producers operated plants at around three-quarters of capacity, demand sank and sales declined both in domestic and foreign markets.
German chemicals, pharmaceuticals and life sciences group Merck and US semiconductors giant Intel have signed a letter of intent to fund a European academic research program that will leverage artificial intelligence (AI) and machine learning technologies to drive innovation.
US specialty chemicals company Solenis is to take over disinfectant producer Diversey Holdings in an all-cash transaction valued at about $4.6 billion, including debt.
BASF is expanding its global capacity for aroma ingredients citral, menthol and lnaloon at existing locations in China and Germany. The biggest investment will involve construction of a new citral plant at its growing integrated site in Zhanjiang, China. New plants for menthol and linalool will to be built at Ludwigshafen.
Swedish chemical company Perstorp has selected Johnson Matthey to provide the license and engineering for its Product Air methanol plant at Stenungsund.
SABIC has announced it is planning to build three new plants in Saudi Arabia to produce catalysts used in the manufacture of chemicals and polymers.
Bachem, a Swiss specialist developer and manufacturer of peptides and oligonucleotides, has signed another order worth more than 500 million Swiss francs – or $531 million – to supply large volumes of peptides following a joint development project. The identity of the customer has not been disclosed.
Independent French specialty chemicals distributor Safic-Alcan has acquired UK engineering plastics distributor 4PLAS for an undisclosed sum.
US specialty chemicals producer Cabot has chosen Münster, Germany, as the site of a planned new technology center to guide its efforts toward meeting the growing demand for electric vehicle (EV) lithium-ion batteries in Europe, the Middle East and Africa (EMEA).
Solvay has now finalized terms to sell its half share in Russian PVC producer RusVinyl to its joint venture partner Sibur.
US vaccine maker Moderna has chosen the Harwell Science Campus in Oxfordshire, England, as the location for its planned UK Innovation and Technology Center which is expected to be in operation by 2025.
Danish pharma Novo Nordisk is expanding its R&D capabilities in Boston, Massachusetts, US, which will lead to the closure of a facility in Indianapolis and a restructuring of its Seattle operations.
Abu Dhabi National Oil Co (ADNOC) has netted $2.5 billion from the initial public offering of its subsidiary ADNOC Gas. The biggest-ever issue in Abu Dhabi, topping the $2 billion Borouge listing in mid-2022, was oversubscribed more than 50 times as investors placed offers worth $124 billion for a 5% stake in the United Arab Emirates-based firm.
BP is investing up to €2 billion in a green hydrogen plant at its Castellon refinery in Spain, replacing the site’s existing fossil-fuel based facility and expanding production of biofuels threefold. The project is the basis of a public-private initiative named HyVal and led by BP to decarbonize the Valencia region, including the Castellon refinery.
Clean Cells, part of France’s Clean Biologics group, which provides biopharmaceutical product quality control services and manufactures starting materials, has begun analytical activities at its new €22 million facility in Montaigu-Vendée, near Nantes.
Hanno Scheffczik has been appointed as the new Managing Director of Temmler Pharma, a member of the Aenova Group. Effective Mar. 1, 2023, he succeeds Alfred Veit, who is retiring.
Under US president Joe Biden, the Department of Justice has been moving energetically of late to uncover and prosecute offenses that might otherwise have been swept under heavy rugs, including Covid-related API manufacturing contracts won under unclear circumstances.
In its second deal of 2023 so far, IMCD has acquired Orange Chemicals, a distributor covering the coatings & construction, advanced materials and other industrial markets in the UK and Ireland.
Invibio Material Solutions, the medical business of UK high-performance polymer producer Victrex, has opened a new product development facility in Leeds in order to accelerate commercialization of future applications.
With the completion of its acquisition of Huntsman Textile Effects on Feb. 28, Swiss specialty chemicals producer Archroma, a portfolio company of US private investment firm SK Capital Partners, has revamped its operational structure.
Acting on behalf of the Environmental Protection Agency (EPA) and the US Attorney’s Office for the Eastern District of Louisiana, the US Department of Justice has ordered Japanese plastics and rubber producer Denka Performance Elastomer to “significantly reduce” hazardous chloroprene emissions from its neoprene plant in LaPlace, Louisiana.
Solvay has agreed with EnergyRe to buy all renewable energy certificates generated by the latter’s Lone Star Solar project in Calhoun County, South Carolina, USA.
Pfizer is in the early stage of talks to acquire Seagen (formerly Seattle Genetics), a US biotech focused on developing treatments for cancer, according to a report in the Wall Street Journal that cited people familiar with the matter. The purchase price could potentially be more than $30 billion.
Brenntag has expanded its capabilities in South Africa with the purchase of a Johannesburg facility focused on water treatment solutions. The purchase price was not disclosed.
At his last – virtual – annual results press conference before handing over the CEO’s job to Bill Anderson in May, in addition to reviewing figures for 2022 and trying to assess the still clouded look for 2023, outgoing Bayer chief Werner Baumann took the opportunity to criticize the US legal system.
ExxonMobil has signed a Heads of Agreement with South Korea’s SK Inc. to collaborate on blue ammonia. Under the terms of the deal, SK expects to offtake supplies of blue ammonia from ExxonMobil’s proposed hydrogen and ammonia facility in Baytown, Texas, USA.
