Ineos has launched a €3.6 billion leveraged loan – split between euros and US dollars – to refinance existing debt and reduce its term loan margins. Barclays, Citi and JP Morgan are global coordinators, alongside joint book runners BMO, Credit Suisse, Deutsche Bank, ING and Lloyds.
Toward improving the standard of public healthcare across the EU, the European Parliament (EP) has passed a resolution calling for a common standard and a common post-Covid-19 response strategy that would guarantee emergency preparedness including a strategic reserve of pharmaceuticals.
US pharma giant Merck & Co is boosting its cancer drug development, adding two more collaborations – with Foghorn Therapeutics and Zymeworks.
German chemical producer Lanxess is realigning its water treatment business, divesting its reverse osmosis membrane activities to Suez and strengthening its ion exchange resins business to focus on high-end specialty applications.
New structure bundles the CDMO's production areas into the business units Solids, Semi Solids & Liquids and Soft Gel Capsules.
KNM Process Systems (KNMPS), a wholly owned subsidiary of Malaysia’s KNM Group, has entered into a heads of agreement to form a joint venture with ADAP Capital to participate in oil, gas and petrochemicals projects in Sarawak, Malaysia.
Cambrex is spending $3.6 million to expand flexible drug substance manufacturing at its site in Karlskoga, Sweden. Engineering has already begun, and work is expected to be completed by November 2020.
As the European Council meets tomorrow, July 17, in Brussels for its first in-person session since the coronavirus forced business, offices and governments into virtual reality, along with budgetary matters the heads of the 27-member states will debate a European Recovery Plan.
Air Liquide will spend over $100 million to install an air separation unit (ASU) on its Gulf Coast pipeline network in Ingleside, Texas, USA, to support a long-term supply agreement with Steel Dynamics Inc (SDI).
Under the name M Lab, Germany’s Merck has opened a new collaborative drug development center in Pudong, Shanghai, China. The facility with lab space of around 10,000 m2 is the largest of the pharmaceutical, chemicals and life science group’s nine such centers worldwide and is located in the heart of Shanghai’s biomedical sciences and research community.
The European Commission has fined Swiss specialty chemicals producer Clariant €155.8 million for its role in an ethylene purchasing scheme that also implicated other chemical producers, including US-based Celanese.
UK-headquartered multinational energy group BP has announced it will inject $70 million later this year into India’s Green Growth Equity Fund (GGEF). Based in Mumbai, GGEF invests in scalable operating companies and platforms across renewable energy, energy efficiency, energy storage, e-mobility, resource conservation and associated value chains.
Clariant is collaborating with Ineratec, a spin-off from the Karlsruhe Institute of Technology (KIT), to develop and commercialize novel technologies for producing renewable fuels and chemicals.
The UK will not participate in a plan to distribute a potential coronavirus vaccine to Europe’s most vulnerable citizens first. Tim Barrow, the UK’s ambassador to the EU, said in a letter to the European Commission the British government would not join the effort because as a non- EU member it would have no decision-making power in negotiations about purchases.
Norwegian energy group Equinor is leading a project in Humber, UK, to produce hydrogen from natural gas in combination with carbon capture and storage (CCS). The Hydrogen to Humber Saltend (H2H Saltend) project will be the start of a decarbonized industrial cluster in the Humber region, the UK’s largest by emissions.
Bayer has backed away from plans to create a science advisory panel to help decide still outstanding claims from US plaintiffs that Monsanto’s glyphosate-based herbicide Roundup caused their non-Hodgkins lymphoma.
Germany’s BioNTech is confident it will be ready to seek regulatory approval for its mRNA-based Covid-19 vaccine by the end of this year, its co-founder and chief executive Ugur Sahin said in an interview with the Wall Street Journal (WSJ).
Leading chemicals distributor Brenntag has agreed to buy Oils ‘R US, a Thai distributor of lubricants for automotive, commercial vehicle, industrial and marine applications. The transaction is expected to complete in the second half of 2020.
Bayer’s relief over its recent deal to settle three-quarters of its outstanding Roundup-related US lawsuits for more than $10 billion altogether could be short-lived.
Nouryon has announced plans to start developing a manufacturing facility at its site in Ningbo, China, for two key organic peroxide intermediates: tert-butyl hydroperoxide (TBHP) and tert-butyl alcohol (TBA).
CordenPharma has expanded peptide manufacturing capacity at its GMP API facility in Boulder, Colorado, USA, to accommodate what it said is “a large spike in demand” for peptide APIs and to continue its overall growth strategy.
US industrial gases group Air Products has signed an agreement with Saudi Arabia’s Acwa Power and the Neom project to build a $5 billion world-scale green hydrogen-based ammonia plant. The facility, which Air Products said would be one of the largest of its kind, will supply 650 t/y of carbon-free hydrogen.
After it emerged last week that the US federal government had nailed down the lion’s share of the world’s supply of the antiviral remdesivir, Gilead Sciences’ new drug being touted as a promising treatment for Covid-19, the EU has held talks with the US drugmaker.
Corteva Agriscience has agreed to take over J.G. Bosell’s stake in their joint-venture company PhytoGen Seed Co. Financial terms of the deal were not disclosed.
Ineos has announced it may build its 4x4 off-roader in France, suspending existing plans to build it in Wales and Portugal. The Swiss-headquartered group is now in talks with Mercedes-Benz about acquiring the major German carmaker’s site at Hambach, France, describing the site in was “ideally suited” to the Grenadier.
Brazilian national oil group Petroleo Brasileiro (Petrobras) is reportedly within six months of reaching a consensus with construction group Odebrecht on a new shareholder agreement for petrochemicals producer Braskem.
A newly formed Japanese joint-venture company is investing in Anellotech’s Plas-TCat plastics recycling process, with the aim of commercializing the technology by 2027.R Plus Japan was established last month by 12 cross-industry partners within the Japanese plastics supply chain.
Novartis has finally wrapped up a suite of bribery-related lawsuits in the US, paying well over $1 billion to settle two long running multifaceted cases within a week.
The European Investment Bank (EIB) has granted German biotech CureVac a €75 million loan to support its ongoing development of vaccines against infectious diseases, including its Covid-19 candidate CVnCoV.
As the American Chemistry Council (ACC) publishes its 2020 Guide to the Business of Chemistry, the world is coping with a global pandemic and the worst economic downturn in nearly a century.
The newly built chemical tanker Bow Persistent has entered Odfjell’s 80-ship fleet, joining sister ship Bow Prosper in the Norwegian group’s round-the-world trade. Built at the Fukuoka shipyard in Nagasaki, Japan, the 36,000 dwt vessel comprises 28 stainless steel tanks.
Italian energy group Eni and compatriot NextChem, the green chemistry division of contractor Maire Tecnimont, have expanded their partnership to include building a circular gas plant in Taranto, Italy, adding to projects for waste-to-hydrogen and waste-to-methanol plants.
Haldia Petrochemicals, part of The Chatterjee Group (TCG), and investment funds affiliated with Rhone Capital have completed their joint acquisition of Lummus from major engineering and construction group McDermott International as of Jun. 30.
US generics specialist Mylan is investing an additional $20 million in Mapi Pharma to support the latter’s ongoing Phase 3 clinical study and eventual commercialization of Glatiramer Acetate (GA) Depot for treating patients with relapsing-remitting multiple sclerosis (RRMS) in the US.
US-based CDMO Catalent has agreed a collaboration with US biotech Moderna for large-scale, commercial fill-finish manufacturing of Moderna’s mRNA-based COVID-19 vaccine candidate (mRNA-1273) at Catalent’s biologics facility in Bloomington, Indiana, USA.
