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Pharma/fine chemicals roundup—17 July 2013
5:35 AM MDT | July 17, 2013 | By DEEPTI RAMESH
Shasun and SeQuent to form leading animal health joint venture
Shasun Pharmaceuticals (Chennai, India) and SeQuent Scientific (Bangalore, India) have signed a letter of intent to form a joint venture to develop, manufacture, and sell veterinary products, including active pharmaceutical ingredients and formulations in the global market, the companies announced last week. SeQuent, and integrated pharmaceuticals company, will hold 73% in the jv and Shasun will have the balance. The establishment of the jv is subject to corporate and statutory approvals with operations expected to begin in the first quarter of 2014. On completion of the arrangements, the jv will become India’s leading provider of animal health solutions, the companies say.
Purolite and Codexis collaborate to develop immobilized enzymes for pharmaceutical market
Codexis (Redwood City, CA), a company that engineers enzymes for pharmaceutical, biofuel, and chemical production, says it has entered into a collaboration with Purolite (Bala Cynwyd, PA), to develop and market immobilized enzymes for the pharmaceutical industry. Purolite is a leading manufacturer of ion exchange, catalyst, adsorbent and specialty resins, Codexis says. The collaboration will enable Purolite and Codexis to develop immobilized transaminase enzymes for use in the production of pharmaceuticals. “The successful implementation of these ready-to-use immobilized enzymes for fast screening processes opens the door to new concepts of drug development, where scientists who are unfamiliar with biocatalytic processes can easily apply immobilized enzymes to different screening processes that can speed up new-molecule and API development,” says Alessandra Basso, business manager of LifeTech unit at Purolite.
Global API market to grow at CAGR of 8% until 2017
The global sales of active pharmaceutical ingredients (API), which reached $113 billion in 2012, is expected to grow at a compound annual growth rate of about 8% during 2012-2017, says a recent report by RNCOS. The market for APIs, while it is consolidating in the United States and Europe resulting in the emergence of a few big players producing specialty APIs that target high value markets, new players are entering the mass markets of India and China, the report says. With global health-care spending having reached about $6.4 trillion in 2010 and a rapidly ageing population boosting the demand for pharmaceuticals, APIs represent one of the most exciting markets for growth, the report says.
Mitsubishi Tanabe Pharma to acquire Canadian biopharma company Medicago
Medicago (Quebec City, PQ), a biopharmaceutical company focused on developing vaccines based on proprietary manufacturing technologies, announced that it has entered into a definitive agreement with Mitsubishi Tanabe Pharma Corp. (MTPC; Osaka) whereby MTPC will acquire all of the issued and outstanding common shares of Medicago, other than the shares currently held by Philip Morris Investments (PMI; Bergen on Zoom, Netherlands), an affiliate of Philip Morris International and MTPC, for $1.16/share in cash or a maximum of C$179 million ($172.2 million) in total. On completion of the transaction, MTPC will own 60% of Medicago, with PMI owning the rest.
Aesica appoints new business development managers
Aesica Pharmaceuticals (Newcastle, UK) says it has appointed Sven Thomas and David Ross as business development managers. Their appointment is the next phase in the company’s international drive to increase sales from its integrated active pharmaceutical ingredient (API), formulation development and manufacturing services. Under the new structure, David Ross will focus on the United Kingdom, Ireland and Scandinavia whilst Sven Thomas will handle Central and Eastern Europe with a strong emphasis on expanding the level of business from Germany and the growing economies in Eastern Europe. In the new position at Aesica, Thomas says he will "play a key role in driving forward our services in the German market, as well as Eastern Europe. The fact that we have site facilities geographically situated in Monheim and Zwickau as well as in Italy and the United Kingdom ensures that Aesica is well situated to deliver reliable services to customers from all of Europe,” Thomas says.
Beyond IHS Chemical Week:
Aurobindo Pharma aims to double sales to $2 billion
from LiveMint, India
Aurobindo Pharma Ltd has set an ambitious target of doubling sales to $2 billion in the next three years. The Hyderabad-based generic drug maker said it plans to introduce 20–25 new formulation products this year and is working on a pipeline of 200 in the next two to three years. “We will accelerate our rate of filings and enter new, more profitable areas of growth,” said K. Nithyananda Reddy, vice chairman. For the year ended 31 March, Aurobindo reported sales of Rs58.6 trillion ($988.7 billion) and a profit of Rs1.08 trillion. The formulation business contributes 57% of sales, while the rest comes from active pharmaceutical ingredient.