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Business Roundup

August 28, 2006 | A version of this story appeared in Volume 84, Issue 35

Wellman has cut its quarterly dividend to 2 cents from 5 cents per share. The polyester products maker says it also is exploring steps to improve its overall performance, including strategic alternatives for its noncore businesses.

Medarex and GenPat77 have entered into a collaborative research agreement to develop and commercialize fully human antibody therapies. They will use Medarex' UltiMAb Human Antibody Development system to generate antibodies to novel disease targets provided by GenPat77.

Barr Pharmaceuticals last week formally published its offer for the purchase of Pliva, a Croatian generic drug company. Pliva's supervisory board welcomed the U.S. firm's bid, which is valued at about $2.3 billion.

Jacobs Engineering Group has received a contract from Boehringer Ingelheim Chemicals to provide preliminary engineering, design, subcontract administration, and construction management for a new bulk active pharmaceutical ingredients facility in Petersburg, Va.

DuPont will spend $50 million to expand production of Tedlar polyvinyl fluoride film by 2007 in Fayetteville, N.C. A surge in solar panel installations worldwide is driving increased demand for the film, which is used in the protective back sheets of the panel.

Altus Pharmaceuticals has selected Althea Technologies to manufacture Phase III quantities of ALTU-238, Altus' crystallized formulation of human growth hormone. Althea will manufacture the clinical trial materials at its San Diego facility.

Cabot Corp. has started up a carbon black joint venture in Tianjin, China, with Shanghai Coking Chemical. The plant, which cost about $60 million, has an annual capacity of 105,000 metric tons.


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