Issue Date: November 26, 2012
BASF Pushes Further Into Omega-3 Market
BASF has agreed to purchase Pronova BioPharma, a Norwegian producer of omega-3 fatty acids from fish oil, for $850 million. BASF says it has secured commitments from venture capital shareholders for approximately 60% of Pronova. The company’s omega-3-based compounds are used in nutritional supplements and in an FDA-approved drug for cardiovascular disease. Last year Pronova had concentrated omega-3 production capacity of 2,500 metric tons per year and sales of about . . .
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