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Pharma/fine chemicals roundup—5 March
9:50 AM MST | March 5, 2013 | By DEEPTI RAMESH
Siegfried reports huge rise in profits
Siegfried (Zofingen, Switzerland), a producer of active pharmaceutical ingredients (APIs), intermediates, and finished drugs, reports a more than doubling in net profits for 2012, compared with 2011, to 20.9 million Swiss franc ($22.2 million). Full-year sales increased 12.1% to SF367.8 million. Ebitda increased 24%, to SF45.4 million. Fourth-quarter figures were not disclosed.
“Continued progress in implementing strategy has created the conditions for sustained growth of sales and profitability,” says Rudolf Hanko, CEO of Siegfried. Siegfried says that the outlook for the company is positive. “Increasing quote requests show that interest in cooperating with an outsourcing partner is growing and that Siegfried is well positioned to benefit from this development. Siegfried expects sales for 2013 to increase slightly and profitability to continue,” Hanko says.
Ajinomoto to double production capacity for amino acids for pharmaceuticals and foods in China
Ajinomoto (Tokyo) says it plans to invest about ¥1.3 billion ($14 million) to double production capacity for amino acids for use in pharmaceuticals and foods at its subsidiary Shanghai Ajinomoto Amino Acid (Shanghai). The expansion is expected to be completed in October and will help meet demand in the fast-growing China market as well as in other parts of the world, Ajinomoto says. Shanghai Ajinomoto Amino Acid, which was established in 1998, manufactures and sells amino acids for pharmaceuticals and foods, and employs 153 people.
Codexis’s loss widens in fourth quarter
Codexis (Redwood City, CA), a developer of engineered enzymes for pharmaceutical, biofuel, and chemical production, has reported a net loss of $15.5 million in the fourth quarter of 2012 compared with a net loss of $5.3 million in the year-ago quarter. Fourth-quarter sales decreased 76%, to $7.9 million, primarily because of the termination of Codexis’s collaborative research agreement with Shell as of 31 August 2012, Codexis says. Product revenue in the fourth quarter of 2012 was $6.8 million, a decrease from $15.5 million in the prior-year quarter, primarily because of the timing of generic and innovator pharmaceutical product orders, Codexis says. For full-year 2012, Codexis reports a net loss of $30.8 million compared with a net loss of $16.5 million in 2011. Full year sales decreased 29%, to $88.3 million. For full-year 2013, Codexis expects total pharmaceutical related revenue in the range of $35–40 million.
Kemira completes sale of food and pharmaceutical businesses
Kemira says that it has completed the previously announced sale of the food and pharmaceutical businesses together with its acetate based chemicals business to Niacet (Niagara Falls, NY), for €82 million ($107 million). These businesses were a part of Kemira's ChemSolutions segment. Kemira had first announced plans for the divestment in December 2012. The businesses sold have combined annual sales of about €50 million and employ 90 people.
API business of Grindeks reports rise in sales
Pharmaceutical company Grindeks (Riga, Latvia) says that the company’s active pharmaceutical ingredients (API) business reported a 38% rise in sales in full-year 2012 compared with 2011, to 12.7 million lati ($23.5 million). Grindeks is the leading pharmaceutical company in the Baltic States and it is involved in the research, development, manufacturing, and sale of original products, generics, and APIs. Grindeks produces 22 APIs in total, and the company’s main API export markets are Germany, Ireland, Japan, Netherlands, and Russia.