Albemarle plans fine chems acquisitions

Albemarle's fine chemicals business unit will focus on targeting the pharmaceutical market, said Ron Gardner, vice-president fine chemicals, speaking at the company's Vision 2010 investor meeting. Gardner said the company plans to develop its API and pharmaceutical intermediates businesses. The company also plans to build its capabilities first in Europe and then in India to be nearer to some of its customers and potential customers. The business is already expanding its R&D capabilities in Asia with teams in India and China.
The company is also building its brand image in the sector by working with its customer to publicise the relationships it develops. Albemarle's current pharma pipeline has 38 projects in preclinical development, 51 in phase I, 14 in phase II and 20 in phase III - the most it has ever had in pIII. Gardner said its pipeline was worth more than $100m in sales.
Acquisition will form part of the company's plan to grow the business, said Gardner. The company plans to acquire businesses that deliver $250m in sales to take the fine chemical business unit sales to $1bn by 2010.
As for competition in the arena from China, Gardner said the company was seeing customers that were hesitant to take business to China. In addition he sees the economic environment changing such that Western manufacturers are seen as relatively more attractive as china becomes relatively less competitive.
Albemarle presentation