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Pharma/fine chemicals roundup—12 February
7:43 AM MST | February 12, 2013 | By DEEPTI RAMESH
Teva’s API business reports rise in sales
The active pharmaceutical ingredient (API) business of Teva Pharmaceutical (Petaḥ Tiqwa, Israel), recorded a 2.5% increase in sales in the fourth quarter of 2012 compared with the year-ago period, to $202 million. Teva has the largest API business in the world in terms of sales. For the full-year 2012, Teva's API business reported a 6.5% rise in sales compared with 2011, to $796 million. Earnings figures for the API business were not disclosed.
Albemarle announces expansion of fine chemicals site in Pennsylvania
Albemarle says it has started construction on an additional expansion of its Tyrone, PA, fine chemical manufacturing facility. The company doubled the capacity for a proprietary chemical product manufactured for customers at the site, which produces several types of specialty chemicals, in December. The expansion costs $30 million and the new capacity will be operational late in first-quarter 2014, the company says.
Ampac Fine Chemicals swings to profit
Ampac Fine Chemicals (Rancho Cordova, CA), a subsidiary of American Pacific (Las Vegas), recorded an operating profit of about $1.3 million in its fiscal first quarter, ended 31 December 2012, compared with an operating loss of $1.2 million in the corresponding period of the previous fiscal year. First-quarter sales were $21.3 million compared with $21.5 million in the year-ago period.
SAFC reports rise in sales
Sigma-Aldrich Fine Chemicals (SAFC), the custom manufacturing and services business unit of Sigma-Aldrich, reported a 21% increase in sales in the fourth quarter of 2012 compared with the year-ago period, to $224 million. SAFC’s sales grew organically by 5%, Sigma-Aldrich says. For the full-year 2012, SAFC reported a 17.4% rise in sales, compared with 2011, to $855 million.
Cambrex posts gain on tax benefit
Cambrex reported a net income of $43.6 million for its fiscal fourth quarter, ended 31 December 2012, up from $741,000 in the year-ago quarter. The 2012 quarter included a tax benefit of $36 million. Sales increased 4.8%, to $70.4 million, as demand for certain custom manufacturing products partially offset lower prices. Cambrex says it expects full-year 2013 sales, excluding the impact of foreign currency, to increase 8–12% over 2012.
Beyond IHS Chemical Week
Indian imports of pharmaceutical ingredients see 93% increase
From the Mint
Indian pharma firms nearly doubled imports of drug ingredients last year. Companies said this was to make up for shortages in local production, while analysts said it may have been aimed at cutting costs ahead of proposed curbs on drug prices, especially as a chunk of the imports came from China.
India imported active pharmaceutical ingredients and drug intermediates worth $4.6 billion in 2012, up from $2.9 billion in the previous year, according to data available with customs at various ports. A breakdown of countrywise imports isn’t presently available.