Pharma/fine chemicals roundup—3 December 2013
4:46 AM MST | December 3, 2013 | By DEEPTI RAMESH
Merck KGaA eyes pharma acquisitions in the US
Merck KGaA (Darmstadt, Germany) is looking to strengthen its presence in the prescription pharmaceuticals market in the United States and is open to more collaborations and acquisitions. At a press briefing last month in Yavne, Israel, the location of Merck Serono’s subsidiary in Israel, Stefan Oschmann, board member Merck KGaA/pharma and consumer health, said that the average global pharma company generates about 50% of its sales in the US while Merck’s share is only 20%. He said that Merck is planning to raise this soon and that may include M&A.
Egis opens API research center in Hungary
Egis Pharmaceuticals (Budapest) says it has opened a new active pharmaceutical ingredient (API) research and development center at Budapest, on 2 December. The new API Research and Development Centre was established with a total investment of 4.6 billion Hungarian Forint ($20.5 million) and it was co-funded by the European Union and the Hungarian government. The center enables Egis to develop high-potency APIs. These active ingredients have significant biological effects even in small quantities and provide advanced therapies especially in the field of oncology, Egis says. The API Research and Development Centre also includes a new pilot plant, which carries out the scale-up of APIs developed by Egis.
Glenmark appoints head of APIs and North America operations
Glenmark Pharmaceuticals (Mumbai, India) says it has appointed Philip Gioia as president/North America and global active pharmaceutical ingredients (APIs). Gioia will be based at Mahwah, NJ, and will report to Glenn Saldanha, chairman and managing director of Glenmark. In his role, Gioia will be responsible for the generics and branded business across North America and the sales and marketing activities of the global API business. Gioia has over 25 years experience in the US pharmaceutical industry, both in generics and branded space, Glenmark says. Gioia joins Glenmark from Bausch & Lomb, for which he was the global head/diversified products and business development, pharmaceuticals.
API business of Grindeks reports rise in sales
Pharmaceutical company Grindeks' (Riga, Latvia) active pharmaceutical ingredients (API) business reports an 88.2% rise in sales in the first nine months of 2013 compared with the first nine months of 2012, to 6.4 million lati ($12.3 million). Grindeks is the leading pharmaceutical company in the Baltic states and is involved in the research, development, manufacture, and sale of original products, generics, and APIs. The company’s main API export markets are Canada, Germany, Ireland, Japan, and the Netherlands.
KKR buys stake in Indian firm Gland Pharma for $200 million
KKR, a leading global investment firm, says it will acquire a minority stake in Gland Pharma (Hyderabad, India), a leading Indian pure-play generic injectables pharmaceutical products company focusing mainly on the US market. KKR will pay approximately $200 million for the entire stake held by Evolvence India Life Sciences Fund, an existing private equity investor in Gland. The transaction, which will give KKR approximately 35% in Gland, is subject to regulatory approvals and other customary closing conditions.
BASF to increase price for pharma solvent
BASF says it will increase its selling price for 1,4 butanediol, tetrahydrofuran, and polytetramethylene ether glycol across Asia, Europe, and North America, with immediate effect, or as existing contracts permit. The price increases reflect mainly the increase of raw material cost, BASF says. Tetrahydrofuran is an intermediate that serves as a specialty solvent in the production of pharmaceuticals.
Beyond IHS Chemical Week:
570 jobs to go at Merck & Co. Irish plant as part of network streamlining
As part of its global streamlining strategy a second Irish Merck & Co plant has been earmarked to close but the firm says it remains committed to Ireland.
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