Business Roundup

Frutarom Industries has purchased the shares it did not already own in the savory flavors maker Protein Technologies Ingredients for $40 million. It paid $50 million for a majority stake in 2013.

Oxis Energy, a Cambridge, England, developer of lithium-sulfur battery materials, says it will develop battery cells for a high-altitude “pseudo satellite” to provide remote sensing and internet connectivity in the developing world. Oxis aims to develop a battery cell that will enable the pseudo satellite to fly above the weather for up to three months.

Evonik Industries has invested an undisclosed amount in Hosen Capital Fund III, a Chinese private equity fund that invests in companies in the agriculture and nutrition sector. Evonik has budgeted $105 million to invest in start-ups and venture capital funds.

Teva Pharmaceutical Industries has named Yitzhak Peterburg as interim CEO. He replaces Erez Vigodman, who stepped down after clinical trial setbacks and the payment of a fine to the U.S. government to settle bribery charges against the company.

Albany Molecular Research Inc. and Bruker Daltonics are joining to develop high-throughput mass spectrometry (MS) for drug discovery at AMRI’s Albany center. AMRI says Bruker’s MALDI PharmaPulse system is the first to allow MS-based assay screening and analysis.

Strides Shasun, previously known as Strides Arcolab, will spin off its active pharmaceutical ingredient (API) business to focus on its core finished drug business. In a statement to the Bombay Stock Exchange, Strides said its API business accounted for 23% of its sales, or $105 million, in the latest fiscal year.

Portola Pharmaceuticals has sold future royalties on its developmental anticoagulation reversal drug andexanet alfa to HealthCare Royalty Partners for $50 million. Portola can get an additional $100 million upon FDA approval of the drug.