US drugmaker Eli Lilly has acquired Protomer Technologies, strengthening its diabetes portfolio. The deal gives Lilly full control over the privately held US biotech, having gained a 14% stake in Protomer last November following an equity investment alongside the JDRF T1D Fund – a venture philanthropy fund accelerating treatments for type 1 diabetes (T1D).
As part of a new supply chain partnership, South Africa’s Biovac will produce Pfizer and BioNTech’s Comirnaty-branded Covid-19 vaccine at its Capetown site from the end of 2021, the companies announced this week.
New wide-sweeping restrictions on the use of glyphosate, active ingredient in herbicides such as the Monsanto-developed Roundup and the subject of thousands of lawsuits still dogging Bayer, will take hold in Germany at the end of July or beginning of August, the agriculture ministry said.
Dutch multinational terminal operator Vopak is linking up with Aegis in India to expand in the chemicals and liquified petroleum gas (LPG) storage and handling business.
Trinseo has agreed to buy Aristech Surfaces from Falcon Private Holdings for $445 million. Headquartered in Florence, Kentucky, USA, Aristech is a leading North American manufacturer of polymethyl methacrylate (PMMA) continuous cast and solid surface sheets serving wellness applications, such as hot tubs and spas, as well as architectural, transportation and industrial markets.
Catalent has kicked off the first phase of a two-phase $100 million expansion to add biologics drug substance production at the Anagni, Italy, plant it acquired from Bristol Myers Squibb in January 2020. This, the US-based CDMO said, will support the growing European market demand for biologics manufacture and supply.
Solvay has announced that the International Chamber of Commerce’s arbitration tribunal has found Edison liable for breaching environmental representations and warranties in the sale of the Spinetta Marengo and Bussi sul Tirino sites in Italy to the Belgian group in 2001.
Specialty chemicals and food ingredients distributor Azelis is acquiring Quimdis, a French distributor of ingredients for nutraceuticals, flavors & fragrances, animal nutrition, personal care, pharma and food. Closing of the transaction is expected by the end of August.
Germany’s BioNTech, best known publicly for the Covid-19 vaccine Comirnaty it developed in partnership with US drugs giant Pfizer, has announced plans to buy a cell therapy R&D platform and clinical manufacturing plant from Gilead Sciences’ Kite Pharma subsidiary.
South Africa’s Sasol has agreed to sell its sodium cyanide business to a local subsidiary of Draslovka Holding, a privately owned Czech-based company, for 1.46 billion Rand, or approximately $101 million. The deal, part of Sasol’s ongoing asset divestment program, is expected to close in the first half of 2022, subject to antitrust clearance and other license and permit regulatory approvals.
Danish drugmaker Novo Nordisk has acquired Prothena’s clinical-stage stage antibody PRX004 and broader ATTR amyloidosis program, gaining full global rights to the intellectual property and related rights of the ATTR amyloidosis business and pipeline.
Saudi Arabia’s US Gulf Coast offshoot, Motiva Enterprises has at least temporarily suspended plans worth at least $6.6 billion to add new petrochemical plants to its refining operations in Port Arthur, Texas, the Wall Street Journal (WSJ) reported, citing “people familiar with the matter.”
Verdant Specialty Solutions, Solvay’s former amphoteric surfactants business, has acquired DeForest Enterprises and ParaFlow Energy Solutions from Chemical Services Group for an undisclosed sum.
Netherlands-based AOC, a producer of unsaturated polyester resins, vinyl ester resins and other solutions for applications in coatings, colorants, adhesives and conventional composite resins, is being transferred from one private equity investor to another.
A month after buying its way out of prosecution in the long-running US litigation against opioid makers for $263 million, Johnson & Johnson is now said to be weighing plans to offload liabilities from lawsuits charging that its talc-based baby powder causes ovarian cancer or mesothelioma and, alternatively, that it contains asbestos.
European PVC and chlor-alkali producer Vynova has announced plans to build a plant for liquid potassium carbonate at its site in Tessenderlo, Belgium, replacing an existing facility. The company will invest €4 million in the new plant, which is expected to be operational by mid-2022. Construction is scheduled to begin in the third quarter of 2021.
Private equity group New Mountain Capital has acquired Ascensus Specialties, a provider of specialty materials headquartered in Bellevue, Washington, USA. Financial details were not disclosed. The former majority shareholder Wind Point Partners will reinvest in Ascensus in partnership with New Mountain. Wind Point acquired Ascensus in January 2015 from Dow Chemical.
To gain a berth in the sustainable industrial coatings market, Thailand’s PTT Global Chemical (PTTGC), a 45% affiliate of Bangkok-based, state-owned energy major PTT, is paying Advent International €4 billion for the private equity giant’s Germany-based Allnex resins portfolio company. The selling price is more than 12 times last year’s EBITDA.
Azelis has made two acquisitions this month to date, both in South Korea. The most recent agreement, announced on Jul. 14, is the proposed takeover of Seoul-headquartered Coseal, which specializes in the distribution, repackaging and blending of agricultural/horticultural surfactants.
The bark of the UK’s Competition and Markets Authority (CMA) evidently is worse than its bite – which in the case of AstraZeneca’s $39 billion acquisition of Alexion was none at all. Only a week after European authorities approved the deal, the CMA also gave the green light, without voicing any competition concerns. With this behind it, the two drugmakers are free to merge by Jul. 21.
Building on the Green Deal it rolled out at the end of 2019 and the European Climate Law that goes into effect this month, the European Commission on Jul. 14, concretized its long anticipated targets toward putting the EU at the forefront of political blocs dealing with climate change.
Air Liquide, Borealis, TotalEnergies, Esso and Yara International have signed a Memorandum of Understanding (MoU) to explore the development of a carbon capture and storage (CCS) infrastructure project to help decarbonize their facilities in Normandy, France.
Japan’s Fujifilm has pledged an investment package of about $850 million to accelerate the growth of its core bio CDMO subsidiary Fujifilm Diosynth Biotechnologies by expanding capabilities at undisclosed locations in the US and UK. Initial engineering studies are underway and the projects are scheduled to begin operating by late 2023.
Only a day after announcing it was changing its name to Curia, the US CDMO known up to now as AMRI announced a “definitive agreement” to acquire Integrity Bio, a privately held biologics formulation and fill & finish organization headquartered in Camarillo, California.
Spanish energy and petrochemicals group Repsol has announced plans to build new polymer plants at its Sines complex in Portugal. The €657 million project, it said, represents the largest industrial investment in Portugal in the past 10 years.
The prospects for Johnson & Johnson’s viral vector vaccine to play a major role in the global inoculation against Covid-19 in the developed world are looking increasingly dim. The latest blow is that the US Food and Drug Administration (FDA) is preparing to mandate a warning label that the vaccine can lead to an increased risk of Guillain–Barré syndrome, a rare but serious neurological condition.
Lanxess and Wacker have become the first two chemical companies to join Foundation 2°, a German corporate initiative lobbying for effective market-based conditions for climate protection and recognition of the “problem-solving skills of German companies.”
Chemical distributor Petrochem Middle East and multinational logistics group DP World are collaborating to develop a chemical terminal in Jebel Ali Port in Dubai, the United Arab Emirates (UAE).
UK investment group Investindustrial has exited Polynt-Reichhold, selling its shareholding to partner and compatriot private equity firm Black Diamond Capital Management. The deal is expected to close within six months, subject to receiving the necessary regulatory approvals. Upon closing, Black Diamond will be Polynt-Reichhold’s controlling shareholder.
Pharma giant Pfizer plans to ask the US Food and Drug Administration (FDA) to authorize a booster dose of the Covid-19 vaccine it makes with Germany’s BioNTech. The company said it will file an application within the next month.
US coatings company Axalta has entered into an agreement to buy U-POL Holdings, a UK manufacturer of repair and refinish products for the automotive industry, from private equity owner Graphite Capital Management. Closing is expected to for the second half of 2021. The purchase at about $590 million.
Nouryon, the former specialty chemical business of AkzoNobel, has completed the spin-out of its base chemicals business, Nobian. The latter company will be held separately by Nouryon’s private equity owners, the Carlyle Group and GIC.
German pharmaceuticals, chemicals and life sciences group Merck has signed two collaboration agreements in its new bioelectronics innovation field, which it said builds on and combines its experience and expertise in its Healthcare and Electronics business segments.
Dow has announced a series of “incremental, high-return” capacity expansions around the world to support fast-growing demand across key end-markets.
Maersk Saudi Arabia, part of Danish shipping and logistics giant A.P. Moller – Maersk, has entered into a strategic partnership with King Abdullah Port to provide services for the Kingdom’s petrochemical exporters. The partners will set up the Maersk Integrated Logistics Hub, a non-bonded warehouse for handling and storing cargoes.
