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Pharma/fine chemicals roundup—6 November
7:59 AM MST | November 6, 2012 | By DEEPTI RAMESH
Lonza to cut 500 jobs
Lonza, in its business update announcement for the third quarter of 2012, says that it will make further efforts to improve the profitability of the company's site at Visp, Switzerland, and that these measures will result in 400 job cuts at the site within 2 years. Lonza currently employs about 2,890 people at the site. The company also initiated a review of corporate functions structure to optimize and adapt corporate service offerings and to realize savings; this program will lead to a reduction of an additional 100 positions worldwide over the next 2 years, Lonza says.
API business of Dr. Reddy’s reports rise in sales
The pharmaceutical services and active ingredients business of Dr. Reddy’s Laboratories (Hyderabad, India) reported a 33% rise in sales in the fiscal second-quarter, ended 30 September 2012, compared with the year-ago period, to 7.9 billion Indian rupees ($146 million). During the quarter, 10 drug master files were filed globally, including 2 in Europe, the company says.
Cambrex reports fall in profits
Cambrex (East Rutherford, NJ) reported a 39% fall in net profits for the third quarter, ended 30 September 2012, compared with the year-ago period, to $1.68 million. Net sales increased 2.7%, to $59.4 million, primarily because of higher custom development revenues and higher volumes of generic active pharmaceutical ingredients partially offset by lower pricing, Cambrex says.
Report: Global high-potency API market to reach $17.5 billion in 2018
The global high-potency active pharmaceutical ingredients market, which was worth $9.1 billion in 2011, is expected to reach $17.5 billion in 2018, growing at a compund annual growth rate of 9.9% from 2012 to 2018, says a recent report by market intelligence company Transparency Market Research (Albany, NY).
Hikal reports fall in profits
Hikal (Mumbai), an outsourcing partner to companies in the pharma, biotech, agchem, and specialty chemical industries, has recorded a 81.9% fall in net profits for its fiscal second-quarter, ended 30 September 2012, compared with the year-ago period, to 20 million Indian rupees ($370,000). Second-quarter sales increased 5.5%, to Rs1.53 billion. Hikal’s pharmaceutical business recorded a 8.5% fall in second-quarter sales, to Rs800 million. The crop protection business of the company reported a 26.7% increase in second-quarter sales, to Rs730 million.
Watson completes acquisition of Actavis for €4.25 billion
Watson Pharmaceuticals (Parsippany, NJ) says it has completed the previously announced acquisition of generic pharmaceuticals company Actavis (Zug, Switzerland) for €4.25 billion ($5.4 billion). The acquisition creates the world's third-largest generic pharmaceutical company, with anticipated pro forma combined 2012 sales in excess of $8 billion, Watson says. Watson first announced its plans to acquire Actavis last April. The combined company has global and US headquarters at Parsippany, and international headquarters at Zug. Watson says it will adopt Actavis as its new global name effective in 2013.
Wacker, XL-protein sign cooperation agreement to produce biopharmaceuticals
Wacker says that its Wacker Biotech (Jena, Germany) subsidiary and XL-protein (Freising, Germany), a privately owned biopharmaceutical company, have signed an agreement to collaborate more intensely on the production of PASylated therapeutic proteins. Through this collaboration, Wacker and its customers will gain access to XL-protein’s PASylation platform. The PASylation technology enables the development of biopharmaceuticals with extended plasma half-lives, which require less frequent injection and thus are more patient friendly, Wacker says. In a recent feasibility study, PASylated human growth hormone was produced in high yields using Wacker’s Escherichia coli–based Esetec technology.