November 18, 2014 | By DEEPTI RAMESH
FDA issues warning letter to Cadila's API plant in India The US FDA issued a warning letter on 15 October to the active pharmaceutical ingredient (API) manufacturing facility of Cadila Pharmaceuticals (Ahmedabad, India), which is located at Ankleshwar, India, for deviations from cGMP. An FDA inspection from 24–28 March at the facility identified significant deviations from cGMP for the manufacture of...
November 14, 2014 | By LINDSAY FROST
This Week in CW: Dow Chemical held its investor day this week and made several announcements. The company says it plans to cut its stake in its Kuwaiti petrochemical joint ventures and sell its Angus Chemical subsidiary to private equity firm Golden Gate Partners for $1.2 billion. The company also announced plans to realign external reporting, increase its dividend, and expand a shareholder repurchase...
November 11, 2014 | By DEEPTI RAMESH
API business of Dr. Reddy’s reports a slight fall in sales The pharmaceutical services and active ingredients (PSAI) business of Dr. Reddy’s Laboratories (Hyderabad, India) reports a 0.2% fall in sales in the company’s fiscal second quarter, ended 30 September, compared with the year-ago quarter, to 6.39 billion Indian rupees ($104 million). Earnings figures for the PSAI business have not...
November 4, 2014 | By DEEPTI RAMESH
New York-based private equity firm buys minority stake in Indian API manufacturer Laurus for $90 million Private equity firm Warburg Pincus (New York) says that it has acquired a minority stake in Laurus Labs (Hyderabad, India), a leading developer and manufacturer of active pharmaceutical ingredients (APIs), for about 5.5 billion Indian rupees ($90 million). Laurus is a leading manufacturer of APIs for...
October 28, 2014 | By DEEPTI RAMESH
Feature: API firms eye more investments, acquisitions Pharmaceutical ingredient manufacturers from various parts of the world, interviewed by CW during the CPhI trade fair held in Paris earlier this month, said they are very optimistic about the outlook for the industry and outlined investment plans to grow their businesses further. Several manufacturers of active pharmaceutical ingredients (APIs) told CW...
October 24, 2014 | By LINDSAY FROST
This Week in CW: Earnings season was in full swing this week as companies continued to report third quarter results. BASF reported a slight increase in third-quarter Ebitda to €2.52 billion ($3.19 billion) compared with €2.49 billion in the year-earlier quarter. Earnings before interest and tax (Ebit) before special items were 8.9% higher at €1.84 billion but net income declined 4.8% to...
October 22, 2014 | By ROB WESTERVELT
The sharp drop in crude oil prices has increased near-term volatility, but will not stop ethylene margins from marching toward a peak over the next two years, say Dow officials....
October 21, 2014 | By DEEPTI RAMESH
AbbVie and Shire terminate $51-billion deal Shire (Dublin) says that its board has agreed with AbbVie (Chicago) to terminate their previously announced agreement for the acquisition of Shire. AbbVie announced in July that it will acquire Shire for £32 billion ($51 billion). Last week, AbbVie’s board of directors withdrew its recommendation for the proposed acquisition of Shire and instead...
October 17, 2014 | By LINDSAY FROST
This week in CW: CF Industries (Deerfield, IL) and Yara International (Oslo) have terminated merger discussions. “Although we identified very significant operational and structural synergies, we were ultimately unable to agree on terms of a transaction that met the requirements of all our respective shareholders,” says Tony Will, CF president and CEO. Yara and CF, which confirmed deal talks on...
October 14, 2014 | By DEEPTI RAMESH
Feature: Positive outlook for API manufacturing industry Active pharmaceutical ingredient (API) manufacturers say that outsourcing of API manufacturing continues to rise and the outlook for the industry is positive despite cost pressures and other challenges. Manufacturers in various parts of the world have outlined their expansion plans to capture growth in the market. The size of the global API market...
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