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Pharma/fine chemicals roundup—23 July 2013
9:16 AM MDT | July 23, 2013 | By DEEPTI RAMESH
Albemarle’s fine chemistry business reports lower sales, profits
Albemarle says that sales from the company's fine chemistry segment decreased by 15.6% in the second quarter compared with the year-ago period, to $176.1 million, mainly because of lower sales volumes and unfavorable pricing. Profits in the fine chemistry segment decreased 25% in the second quarter, to $34.4 million, because of unfavorable pricing, lower factory operating rates, and the timing of custom services projects, Albemarle says.
Pharmaceutical exports rise in Switzerland
Switzerland's exports of chemicals and pharmaceuticals rose to 41.3 billion Swiss francs ($43.9 billion) in the first half, up 3.9% versus the year-ago period, says Swiss trade association scienceindustries (Zurich). Major contributions to this growth were made by increasing demand for plant protection products (up 12.4%) and pharmaceuticals (up 5.4%). Exports of chemicals, pharmaceuticals, and biotechnology now make up 41% of Swiss exports. Exports of pharmaceutical products were worth SF33.7 billion, an increase of SF1.6 billion on the year-ago period. Pharmaceuticals made up almost 82% of Swiss exports of chemicals, pharmaceuticals, and biotechnology products.
Aesica collaborates with Australian firm
Aesica Pharmaceuticals (Newcastle, UK) says its Aesica Formulation Development subsidiary has signed an agreement with QRxPharma (Sydney), for the global promotion of QRxPharma’s proprietary Stealth Beadlets abuse deterrence technology. Aesica supplies pharmaceutical contract development and manufacturing services and operates six manufacturing sites across the United Kingdom, Germany, and Italy. The company provides controlled drug services across the supply chain, for which abuse or diversion may occur, and is actively building relationships for supplying controlled drug active pharmaceutical ingredients and finished dose products to market. Aesica, under the agreement, will promote QRxPharma’s Stealth Beadlets technology for specific use in controlled drugs formulations. The company will enter into fee-for-service contracts with customers for the development of the new abuse deterrent formulations of specific drugs, while QRxPharma will negotiate license terms directly with the Aesica clients concerned.
Sigma-Aldrich and TSRI partner to commercialize research reagents
Sigma-Aldrich says it has entered into a partnership with The Scripps Research Institute (TSRI; La Jolla, CA) to fund research and provide immediate, day-of-publication access to TSRI researchers' discoveries for the synthesis and analysis of potential drugs. The partnership promises to eliminate months from the translation of cutting-edge chemistry into widespread applications for drug discovery. The partnership includes six TSRI research labs, and TSRI will receive funds to be used to expand capacity for basic research. Sigma-Aldrich and TSRI will partner to fund development of novel reagents from the six TSRI labs, which Sigma-Aldrich will commercialize exclusively via a master licensing agreement. This will allow unfettered access to new reagents by chemists and also scientists who do not have a background in chemical synthesis, which in the past limited their ability to implement novel reagents in their research, Sigma-Aldrich says.
Foster Wheeler establishes JV in China
Foster Wheeler says it has signed an equity purchase agreement with The Fourth Construction Co. of China Electronics System Engineering (Cefoc; Beijing) to buy a 49% share in its Chinese Design Institute, Pechdi. The design institute is now a joint venture named Foster Wheeler Hebei Engineering Design. Foster Wheeler and Cefoc will execute business in China through this jv. Foster Wheeler Hebei Engineering Design is fully licensed to engineer, procure, and construct process facilities in China under single contracts, and it possesses design licenses in the pharmaceutical, chemical, and petrochemical industries.
Avantor and VWR International expand pharmaceutical chemicals distribution arrangement
Avantor Performance Materials (Center Valley, PA), a global manufacturer of performance materials and chemicals, announced it has expanded its arrangement with VWR International (Radnor, PA) for distribution of its pharmaceutical production chemicals portfolio in the Europe, the Mideast, and Africa. Avantor is a resource for biopharmaceutical and pharmaceutical manufacturers worldwide, supplying ingredients, processing agents, biobuffers, nutrients, and excipients, from discovery to full-scale production.
Beyond IHS Chemical Week:
Indian pharmaceutical groups shed copycat image
from the Financial Times, United Kingdom
For decades, India’s large, homegrown pharmaceutical industry has been both admired and reviled for producing low-cost knockoffs of patented Western medicines. The skill has made the South Asian country one of the world’s biggest suppliers of generic drugs. But a recent breakthrough by Zydus Cadilla, a family-owned drugmaker with annual revenues of $1billion, reflects a new focus for leading Indian pharmaceutical groups: original drug research.
GSK says executives appear to have broken Chinese law
British drugmaker GlaxoSmithKline said on Monday some of its executives in China appeared to have broken the law in a bribery scandal, since it had promised changes in its business model that would lower the cost of medicine in the country. GSK is the latest in a string of multinationals to be targeted by Chinese authorities over alleged corruption, price-fixing, and quality controls.
China tightening regulation of pharmaceutical sector
Spokesman for the Belgian drug maker UCB has admitted that the company’s Shanghai office is being investigated by China’s State Administration for Industry & Commerce, the country’s market watchdog. It’s the second such investigation into an overseas drug maker in China. UCB’s spokesperson says other pharmaceutical companies operating in China are also under investigation. It is not known whether the Belgian drug maker UCB is guilty of operational irregularities in China. But, officials from the economic crime office of China’s Ministry of Public Security say other overseas drug makers are also being investigation for financial misconduct. Industry insiders believe this is a sign China is starting to tighten its grip on foreign pharmaceutical operations in China.
UAE allows patented API imports to reduce local generic delay
The United Arab Emirates says it will allow generic drug manufacturers to import active ingredients of patented drugs to encourage local industry growth.