Haldor Topsoe in China Methanol Catalysts Venture
Haldor Topsoe has formed a joint venture with Shaanxi Yanchang Petroleum to build a plant in Shaanxi Fupin in China to produce methanol synthesis catalysts for the Chinese market.
News
Amgen Boosts Antibody Portfolio with Teneobio Buy
US biopharma Amgen has agreed to buy privately held clinical-stage biotech Teneobio in a deal worth up to $2.5 billion. The acquisition will expand Amgen’s antibody development capabilities for drugs to treat cancer and other diseases in the firm’s core therapeutic areas.
Regeneron and AstraZeneca in Obesity Partnership
US biotech Regeneron is collaborating with AstraZeneca to research, develop and commercialize small molecule medicines targeting GPR75 for treating obesity.
Clariant Hikes Catalysts Output in Germany
Clariant has expanded and enhanced capacity for emission control catalysts at its plant in Heufeld, Germany, in order to meet growing demand worldwide, and especially in China.
GSK Plans Life Sciences Campus at Stevenage
GlaxoSmithKline (GSK), the UK’s largest drugmaker, plans to establish a new life sciences campus within its R&D site at Stevenage, England. The company said it is financing the project with the £400 million intake from selling land at the site.
Two Fatal Accidents Rock Chemicals Sector
Two fatal accidents, one in Germany, another in the US, rocked the international chemical industry on Jul 26 and 27, killing at least four workers. Another five people were still missing and feared dead on Jul. 28.
KBR Wins Israel Nitric Acid Contract
US engineering contractor KBR has won a contract from Haifa Group to expand nitric acid capacity at two plants at Mishor Rotem, Israel.
DSM Takes Full Control of Midori
DSM has paid $63 million to take full control of Midori USA, a biotech start-up based in Boston, Massachusetts. The Dutch group already owned 38.5% of Midori and has now acquired the remaining 61.5%.
Brenntag Closes China Purchases
Brenntag has completed two purchases in China within its Specialties division. On Jul. 23, it closed the acquisition of the first tranche – 67% - of food ingredients specialist Zhongbai Xingye. Purchase of the second tranche – and full acquisition – of the Beijing-based company is expected to be finalized by the end of 2024.
LyondellBasell Takes Over PolyPacific Polymers
LyondellBasell has taken over 100% of PolyPacific Polymers (PPM), a compounder based at Port Klang, Malaysia. The Malaysian production facility, which has capacity to produce 25,000 t/y of reinforced and modified polyolefin compounds, will be rebranded as LyondellBasell. All employees will transfer.
CDC Advisory Panel Says J&J Shot Safe
An expert panel advising the US Centers for Disease Control (CDC) has concluded that Johnson & Johnson’s Covid-19 vaccine presents greater benefits than safety risks, especially in view of the rapid spread of the Delta variant – despite a number of cases of the nerve disease Guillain-Barré (GBS) syndrome.
ASK Chemicals Buys SI’s Industrial Resins
German foundry chemicals company ASK Chemicals has agreed to buy the majority of the industrial resins business of SI Group, a US manufacturer of performance additives, process solutions, pharmaceuticals and chemical intermediates, for an undisclosed sum. The transaction does not include the businesses in the US and China.
Methanex Resumes Work on Geismar 3 Project
Canadian methanol giant Methanex is to resume construction on its 1.8 million t/y Geismar 3 methanol project in Louisiana, USA, because of a positive industry outlook and stronger financial position. Work was halted in April 2020 because of the global economic uncertainty from the Covid-19 pandemic.
Dow Aiming to Rebuild Plastics Portfolio?
Dow may revive an earlier expansion project that would add 600,000 t/y of LLDPE capacity on the US Gulf Coast, CEO Jim Fitterling said during a conference call with journalists last week to present second quarter financial results.
Nouryon Hikes China Expancel Capacity
Nouryon will relocate its production of Expancel expandable microspheres from Suzhou to Ningbo in China, which will lead to an increase in output. The anticipated “seamless” relocation is expected to be completed by the end of this year. The company said the move will “further strengthen its leading global position in expandable microspheres”.
Johnson Matthey in Catalysis Project with BP, UK Universities
Sustainable technology company Johnson Matthey is participating in a five-year project with multinational energy giant BP and two UK universities to explore new catalyst technology to help the world achieve net zero.
EMA Starts Rolling Review of Sanofi-GSK Covid Shot
The human medicines committee of the European Medicines Agency, CHMP, has begun a rolling review of the Covid-19 vaccine developed by Sanofi Pasteur, which following approval is planned to be marketed by drugmaker Sanofi and UK pharma Glaxo SmithKline.
Lilly Takes Full Control of Protomer Technologies
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).
Biovac to Produce Comirnaty in South Africa
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 Rules for Glyphosate Use Near in Germany
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.
Vopak and India’s Aegis in Chemicals Storage Venture
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 Pays $445 Million for Aristech
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 Kicks off $100 Million Expansion in Italy
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 Wins Environmental Case Against Edison
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.
Azelis Acquires French Distributor Quimdis
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.
BioNTech Buying Cell Therapy Plant from Kite
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.
Sasol Sells Sodium Cyanide Business to Draslovka
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.
Novo Nordisk Takes Prothena’s ATTR Amyloidosis Program
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.
Aramco’s US Gulf Expansion Said on Ice
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 Strengthens Surfactants with First Acquisition
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.
Lone Star Takes AOC from CVC
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.
J&J Said to Eye Bankruptcy for Baby Powder Unit
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.
Vynova Plans Potassium Carbonate Plant in Belgium
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.
New Mountain Acquires Ascensus Specialties
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.
Advent Sells Allnex to PTT for €4 Billion
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.
