UK Biotechs Broke Investment Records in 2021
Investment in UK biotech and life science companies scored a lifetime high in 2021, according to new data from the BioIndustry Association (BIA) and Clarivate.
News
Solvay Lifts European PVDF Capacity for EV Batteries
Reacting to the comet-like rise in demand for lithium oxide batteries used as separators and cathode binders in electric and hybrid vehicles, Solvay is expanding production of its Solef-branded polyvinylidene fluoride (PVDF) at its site in Tavaux, France.
ExxonMobil Restructures, Relocates to Houston
ExxonMobil is restructuring its organization into three business lines and relocating its corporate headquarters from Irving, Texas to Houston by mid-2023 in a move the energy and chemicals giant said would better support customers, enhance performance and grow value.
EuroChem Negotiating with Borealis for Nitrogen Assets
EuroChem, a Russian-owned fertilizer producer headquartered in Zug, Switzerland, has entered into exclusive negotiations to buy Borealis’s nitrogen business, making a binding offer of €455 million. The deal could complete in the second half of 2022.
Samsung Biologics to Take Control of Bioepis JV
Samsung Biologics has agreed to buy out partner Biogen’s share of their Samsung Bioepis joint venture for up to $2.3 billion. The South Korean group said the deal will accelerate growth in biosimilars and novel therapeutics R&D.
Hexion Holdings Completes Epoxy Sale to Westlake
Hexion Holdings has completed the sale of its epoxy-based coatings and composites portfolio to Westlake Chemical for $1.2 billion. The deal comprises the epoxy specialty resins and base epoxy resins and intermediates product lines. Prior to the sale, Hexion had announced it would split into two independent companies.
UK Gives the Final OK for Novavax Covid Shot
February kicked off with a major publicity coup for US vaccine maker Novavax, based in the state of Maryland. Its Covid-19 vaccine was granted conditional marketing authorization in the UK, Germany’s vaccine advisory panel recommended its use and the company officially filed with the FDA for emergency use authorization.
Sibur Selects Technip Energies as 1-Hexene Licensor
Russian petrochemicals giant Sibur has chosen French engineering company Technip Energies as the licensor of its 1-hexene technology, known as Hexsib. The technology was developed by NIOST, one of Sibur’s main R&D centers.
H.B. Fuller Boosts Adhesives with Apollo Buy
US adhesives maker H.B. Fuller has purchased Apollo, the UK’s largest independent manufacturer of liquid adhesives, coatings and primers for the commercial roofing, industrial and construction markets.
Wacker’s Siltronic Deal with GlobalWafers Off
With Germany’s foreign trade clearance still missing on the deal’s agreed Jan. 31 closing date, Munich-based Wacker Chemie declared its plans to sell its remaining 30.8% stake in silicon wafers manufacturer Siltronic to Taiwan’s GlobalWafers officially dead. For now, at least.
Exxon-SABIC JV Starts up new Texas Petchem Site
ExxonMobil and SABIC have brought on stream what they tout as the world’s largest ethane cracker. The facility at Portland, Texas, which is operated by the companies’ Gulf Coast Growth Ventures (GCGV), has capacity to produce 1.8 million t/y of ethylene.
Akhil Ravi Named CEO of Aurigene Pharmaceutical Services
Dr. Reddy's has appointed Akhil Ravi as CEO for its wholly-owned subsidiary Aurigene Pharmaceutical Services effective Feb. 1, 2022.
Ineos Styrolution Sells StyLight Business to Ensinger
Ineos Styrolution has sold its StyLight thermoplastic composite materials business to German family-owned firm Ensinger for an undisclosed sum.
Private Equity Buyers Seen as Circling Sandoz
US private equity firms Blackstone and Carlyle may make a joint offer for the Novartis generics unit Sandoz, Bloomberg reports. With six other possible bidders seen as circling Basel-based Sandoz, the news agency’s sources said this sale could shape up to be one of the biggest-ever buyout deals, valued at around $25 billion.
SABIC Boosts African Agri-nutrients Presence with ETG Stake
SABIC Agri-Nutrients has agreed to acquire a 49% stake in ETG Inputs Holdco for an enterprise value of $320 million. ETG Inputs Holdco blends and distributes fertilizers, seeds and crop protection products across Africa from its more than 350 distribution centers.
BASF Expands Enzymes Output
BASF has expanded its feed enzymes capacity at Ludwigshafen, Germany, to meet growing global demand for its Natuphos E, Nutugrain TS and Natupulse TS products. The German group said feed enzymes have become indispensable for improving efficiency and sustainability in animal protein production.
Lanxess and DSM to Merge Plastics under Private Equity?
Lanxess and private equity investor Advent International are reportedly discussing a transaction that could see the German company’s engineering plastics portfolios merge with the polymer-related activities being flogged off by DSM in the Netherlands. The resulting new entity would likely be controlled by Advent.
Evotec Partners on Metabolic and Eye Diseases
German drug discovery and development company Evotec has entered into two separate collaborations with major pharma firms during January.
Ib Jensen Appointed as CFO of Perstorp
Perstorp has appointed Ib Jensen as new CFO, effective Feb. 1, 2022. He takes over the CFO role from Ulf Berghult, who will leave Perstorp in April.
Sterling Pharma Solutions to Expand US Plant
Sterling Pharma Solutions, a globally active CDMO based in Birmingham, England, has kicked off a $2.1 million expansion project to increase chemical and analytical capabilities at its facility at Cary, North Carolina, in the heart of the US state’s Research Triangle. The work is scheduled to be completed by the end of this year, allowing the recruitment of up to 20 additional scientists, the company said.
Arkema to Produce even more PVDF at Changshu
Citing strong demand for lithium-ion batteries, as well as from other important markets, Arkema said it is now planning to increase its fluoropolymer capacity at Changshu, China by 50%, rather than 35% as announced earlier. The expected start-up date at the end of 2022 remains unchanged.
Catalent Completes UK and US Expansions
CDMO Catalent has completed a $10 million project to install large-scale isolator units at its sites in Dartford, UK, and Malvern, Pennsylvania, USA. The facilities will provide advanced containment capabilities for the micronization of highly potent drug compounds.
Fertiglobe Collaborates on Green Hydrogen in UAE
Fertiglobe, the joint venture formed between Dutch fertilizer and industrial chemicals group OCI and the Abu Dhabi National Oil Company (ADNOC) in October 2019, has signed a deal to collaborate with renewable energy companies Masdar and ENGIE to develop a green hydrogen facility in the United Arab Emirates (UAE).
Aramco and SABIC Explore Global Projects
Saudi Aramco has set its sights on becoming a global player in a number of petrochemical and energy fields. As one of its biggest projects, the world-leading oil producer recently announced plans to invest in the Polish chemicals sector. Together with its 70% subsidiary SABIC, it signed a Memorandum of Understanding (MoU) with Plock-based PKN Orlen to explore possibilities for cooperation.
Hikma Buys Teligent’s Canadian Assets
The UK’s Hikma Pharmaceuticals has agreed to pay $45.75 million for the Canadian business of Teligent, a US generic drugmaker that filed for Chapter 11 bankruptcy protection in October 2021 and initiated a sale of its core assets. The deal is expected to close before the end of the first quarter of 2022.
Aceto Consolidates Six Acquisitions
Aceto, a US-based manufacturer of specialty materials for life sciences and advanced technology end markets, has consolidated and integrated six recent acquisitions with an eye to developing its hybrid manufacturing/distribution model to supply high-growth end markets.
Pfizer and BioNTech to Start Omicron Trials
Pfizer and BioNTech are poised to begin their first clinical trial with a new vaccine candidate adapted to offer protection against the Omicron variant of the coronavirus. The study with 1,420 healthy adults aged 18 through 55 that will include some of the participants from the companies’ Phase 3 booster study is aimed at determining the potential need for variant-based vaccines.
ExxonMobil Takes Stake in Norwegian Biofuels Business
US multinational energy company ExxonMobil has bought a 49.9% stake in Biojet, a Norwegian biofuels company that plans to convert forestry and wood-based construction waste into biofuels and biofuel components. Financial terms were not disclosed.
Arkema Widening Specialty Elastomers in France
Arkema is lifting global capacity for its Pebax elastomers at its plant in Serquigny, France. The specialty chemicals manufacturer said the investment will benefit both the bio-circular Pebax Rnew and the traditional Pebax ranges. The expansion will be in place by mid-2023.
Evonik Builds Rhamnolipids Plant in Slovakia
Germany’s Evonik is investing a three-digit million-euro sum to build a new plant for producing bio-based and fully biodegradable rhamnolipids in Slovakia. The facility is due to go on stream in two years.
Unified patent system for Europe
Innovation protection with the EU's unitary patent will be more uniform and cost-effective, but also harbors risks.
Recipharm Divests Sites in France and the UK
Over the course of January, Swedish CDMO Recipharm has sold two of its manufacturing sites to two different buyers in two different countries. One of the divested sites is at Fontaine-lès-Dijon, France, and the other in Newcastle, UK.
Azelis Buys Major Stake in Thailand’s Catalite
In its first acquisition of 2022, Azelis has purchased a majority stake in Thailand’s Catalite. The deal is expected to complete in the first quarter. The size of the stake and financial terms were not disclosed.
Unilever under Pressure after GSK Consumer Bid Flop
Unilever’s CEO Alan Jope has had to bury his hopes of buying GlaxoSmithKline’s consumer drugs portfolio. After shareholders questioned the move, and analysts said that due to the relatively low price its third offer, worth £50 billion, was “as good as dead, the London-based consumer giant pulled the plug. Now it looks as if the CEO may face more trouble, as an activist investor has stepped into the fray.
Trump’s EPA Head Picked for Virginia Office
More than 150 former employees of the US Environmental Protection Agency (EPA) have appealed to lawmakers in the state of Virginia not to approve new Republican governor Glenn Youngkin’s nomination of former EPA administrator Andrew Wheeler as the state’s Secretary of Natural Resources.
