Tuesday, 30 December 2008
FDA approvals up in 2008
The FDA will approve 21 drugs in 2008, up from 18 last year. However, the agency has missed its targets for 15 other products.
Washington Post
Dow-Rohm & Haas merger under threat
The $15.4bn merger between Dow Chemical and Rohm & Haas is under threat following the collapse of Dow's deal with Kuwait. Shares in both companies dropped.
Bloomberg
Dishman breaks ground for SEZ, plans JVs
Dishman has broken ground for its Pharma, Fine Chemicals and Engineering Special Economic Zone (SEZ) on a 300 acre site near Bavla-Bagodara. The $205m investment is due to be operational in 2010 and is expected to provide employment to 50,000 people. Dishman plans to use 40% of the site in joint manufacturing ventures with global pharma companies.
Desh Gujarat
Economic Times
CMC Biologics delays expansion
CMC Biologics has postponed its previously announced plans to expand its Bothwell manufacturing facility.
In-Pharma Technologist
Albemarle aims for $40m savings
In response to falling demand, Albemarle is planning a series of measures to achieve $40m in annualised cost savings in 2009. The company plans to achieve the savings by accelerating its cost reduction programs and resizing its business footprint.
Forbes
Dishman changes financing plans
Dishman Pharmaceuticals has failed to raise $30m from the World Bank’s International Finance Corporation. The company will now use non-convertible bonds to fund its aggressive expansion plans.
Economic Times
Thursday, 18 December 2008
Good year for Ampac, sees future growth
American Pacific's Ampac Fine Chemicals business saw revenues increase 19% to $124.2m in the year ended 30 September 2008 primarily driven by increased volume for anti-viral products. The company sees a decline in demand in 2009 but believes the pharmaceutical fine chemicals market will continue to present growth opportunities in the longer term as the pharmaceutical industry continues to outsource. Ampac expects to meet its growth in the segment through strategic acquisitions and to a lesser extent investment in our facilities.
American Pacific
Cefic groups welcome API inspection programme
Cefic's European Fine Chemicals Group and Active Pharmaceutical Ingredients Committee have welcomes the establishment of an International Cooperative API Inspection Programme. The programme is designed to coordinate inspection resources from Europe, USA, and Australia in higher risk countries - especially in Asia - and aims to prevent counterfeit APIs reaching patients.
EFCG
Thursday, 11 December 2008
Hovione buys Pfizer plant
Hovione has acquired Pfizer's Loughbeg, Ireland, API manufacturing facility. Following the deal is due to be completed by April 2009, Hovione will provide manufacturing for Pfizer. The facility will employ 70-80 staff - a reduction of about 150 on current levels. Over the next two years Hovione will transfer products from its Loures, Portugal site and validating processes for new compounds in expectation of drug approval.
RTE
Actavis' Bulgarian MBO
Actavis will sell its Razgrad, Bulgaria, production company to the management. The facility will then be used for contract manufacturing generic APIs.
In-pharma Technologist
Dow cuts back
Mirroring the recent actions by BASF and DuPont, Dow Chemical is to close 20 plants and idle 180 more. In addition the company will make 5000 redundancies, some of which will come through sell-offs.
Bloomberg
Thursday, 4 December 2008
DSM wins NicOx deal, Archimica loses out
NicOx has selected DSM to manufacture the API for its potential blockbuster, Naproxcinod, which has completed its phase III trials. The API will be produced in DSM's Linz, Austria, facility. As a result of the agreement with DSM, NicOx has ended its API supply agreement with Archimica.
Reuters
Monday, 1 December 2008
Management buy-out for Seal Sands site
The Evonik fine chemicals custom manufacturing site at Seal Sands, UK, has been acquired by the site’s management. In future the site will operate as an independent limited company - Fine Organics - and will continue to manufacture products for Evonik.
The Chemical Engineer
