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Pharma/fine chemicals roundup—5 February
11:02 AM MST | February 5, 2013 | By DEEPTI RAMESH
Johnson Matthey reports lower quarterly sales
Johnson Matthey reported a 2% year-on-year decrease in group sales, excluding precious metals, to £635 million ($998 million), for its fiscal third quarter ended 31 December 2012. The company announced the figures in an interim management statement. Johnson Matthey's fine chemicals division made steady progress with sales up 2%, to £63 million. Operating profit increased slightly compared with the year-earlier quarter but was lower than in the previous quarter, the company says.
Lonza restructures management team, businesses
Lonza says it plans to adapt the management structure of the company to focus on its target markets and to improve the effectiveness of its worldwide organizational structure and operations. As part of this effort, the management committee will be renamed executive committee and will consist of five members: Richard Ridinger, CEO; Toralf Haag, CFO; Marc Funk, chief legal officer; Stephan Kutzer, COO; and Beat In-Albon, COO. As a result, Jeanne Thoma, Uwe Böhlke, and Lukas Utiger will today step down from their former management committee functions, Lonza says. The company's custom manufacturing and bioscience business sectors will be regrouped into one pharma market segment group. The microbial control and life science ingredients businesses will be regrouped into a specialty ingredients market segment group.
Perrigo's API activities report a 4.4% year-on-year drop in sales
The active pharmaceutical ingredient business segment of Perrigo (Allegan, MI) reported a 4.4% decrease in net sales, to $40.9 million in its fiscal second quarter ended 29 December 2012, compared with the same quarter in the previous fiscal year. The drop in sales was due primarily to a decrease of about $5.0 million in existing product sales as a result of increased competition. This was partially offset by a $4.0-million boost related to the continued successful launch of a customer's product, Perrigo says.
BASF completes acquisition of Pronova BioPharma
BASF says it has completed the previously announced acquisition of Pronova BioPharma (Lysaker, Norway), a pioneer in the fields of researching, developing, and manufacturing omega-3 fatty acids. BASF now holds 98.19% of Pronova.
ScinoPharm and Foresee Pharmaceuticals to form drug development JV
ScinoPharm (Tainan, Taiwan) and Foresee Pharmaceuticals (Newark, DE) have signed a joint venture agreement under which they will develop injectable peptide drugs, starting with a Leuprolide oncological drug, the companies say. The jv involves a $3.6-million investment from ScinoPharm and will develop a treatment for prostate cancer. Other details of the jv agreement have not been disclosed. "This collaboration with Foresee signifies ScinoPharm's strategic move into the new drug development field with focus on applying new drug delivery technologies involving oncological [active pharmaceutical ingredients] APIs. We are expanding our capabilities into the formulation sector providing our existing clients with one-stop service for oncological and peptide APIs and drug products, capitalizing on our expertise and leadership in their development and manufacturing," says Jo Shen, president and CEO of ScinoPharm.