Lonza reclassified as life sciences and biotechnology company

Hemscott

FDA needs budget boost

FDA Commissioner Andrew von Eschenbach says critics of the agency have a point: it needs more money than budgeted and requires a revamped organisation to better oversee drug safety and other issues.
Wall Street Journal

Evonik plans IPO and sale

Further to reports earlier this week about the future of Evonik, RAG-Stiftung reportedly plans to sell 25% of Evonik to a financial investor, float 50% in an IPO and retain 25%. RAG plans to approach Permira, BC Partners, KKR, Bain Capital and Blackstone. David Blitzer, senior managing director at Blackstone, said Blackstone may be interested in acquiring a stake in Evonik.
Forbes
Hemscott

Shasun signs Merck deal

Shasun Chemicals has licensed its Buchwald cross-coupling technology to Merck & Co for API manufacture. Shasun will receive upfront payments from Merck and expects contractual rights from Merck if products are commercialised.
Hindu Business Line

Genmab addresses manufacturing need

In-Pharma Technologist

Arch looks to Europe

Arch Pharmalabs is looking for European acquisitions following the opening of its new manufacturing facility in Gurgaon, India. The new $12.5m facility, which will manufacture APIs for the US and European markets, includes four manufacturing plants and a pilot plant. Arch expects the facility to be inspected by the US FDA in the first half of 2008. Ajit Kamath, Arch's managing director,, said the company is also looking to acquiring a medium sized firm in Europe with sales of $100m.
Business Standard

New powers for FDA proposed

The US FDA could receive new authority over drug imports from overseas. The proposals would give the FDA to address criminal conduct overseas that may affect US consumers. However, questions remain over how the new powers would be funded or whether the FDA would have enough staff to carry them out.
Wall Street Journal

Jubilant Organosys has signed manufacturing contracts worth $92m

Equity Bulls

Evonik postpones IPO seeks buyer

Evonik Industries AG has put its IPO on hold and is thought to have seeking an out-right buyer. The company has spoken with financial investors from southeast Asia, Dubai and the US.
Forbes

Cambrex facing fine after October fire

WCF Courier

Call for inspections law change

Key congressmen, John Dingell, chairman of the Committee on Energy and Commerce, and Bart Stupak, chairman of the Subcommittee on Oversight and Investigations, are looking at changes in law that will prohibit the marketing of any drug from a plant that has not been properly inspected.
Committee on Energy and Commerce

BASF sees higher fine chems earnings

The fine chemicals business at BASF saw higher earnings in 2007 following recent restructuring measures. However, the company said it believes the full potential of its custom synthesis business has not been fully exploited and that development work with customers will further contribute to earnings in 2008. The company as a whole saw sales rise 10% to €58bn and earnings rise to €7.6bn in 2007.
BASF

Bids come in for Chemtura

Financial Times

FDA inspected wrong plant

The Chinese plant implicated in supplying the API in heparin was not inspected by the FDA. Instead, the agency mistakenly inspected a plant with a similar name.
Washington Post

Call for FDA head to resign

A member of the US House Energy and Commerce Committee has called for the resignation of FDA chief Andrew von Eschenbach. The call follows revelations that the FDA had not inspected the Chinese manufacturing facility which is believed to have produced the irregular heparin.
New York Times
Los Angeles Times

Record for Cambrex

Cambrex completed a record number of projects in 2007 - 85, said James Mack, company Chairman, President, and Chief Executive Officer. The company also has a growing number of projects in its pipeline.
Cambrex

AZ spins off GI research

Further to earlier reports, AstraZeneca has spun off its Swedish gastrointestinal research unit into a standalone company: Albireo Pharma. AstraZeneca will own a minority stake in the new company, which is financed by Nomura Phase4 Ventures, TVM Capital and Scottish Widows Investment Partnership.
Wall Street Journal

DSM to buy and sell

DSM is seeking acquisitions in the $0.5-1bn range to bolster its life sciences and materials businesses. The company also plans strategic divestments, said chief executive officer, Feike Sijbesma.
Forbes

Saltigo has officially inaugurated its state-of-the-art multi-purpose unit for the production of APIs and intermediates

Fibre2Fashion

SAFC grows in 2007

Sigma-Aldrich reported strong growth -over 19% - for its SAFC business in 2007, with organic growth of 7%. SAFC said strong demand from pharmaceutical customers in the US also continued. Overall Sigma-Aldrich reported annual sales over $2bn.
Sigma-Aldrich