Volume 85 Issue 1 | p. 12 | Concentrates
Issue Date: January 1, 2007

BUSINESS ROUNDUP

Department: Business

QLT Inc. has entered a two-year agreement with the Wilmer Eye Institute at Johns Hopkins University to research treatments for age-related macular degeneration. QLT has the option to negotiate an exclusive license to products resulting from the collaboration.

Genentech has licensed ALTU-238, a once-weekly formulation of human growth hormone developed using Altus Pharmaceuticals' protein crystallization technology. Altus will receive a $15 million fee and could earn up to $140 million in milestone payments. Genentech will also take a $15 million stake in the Cambridge, Mass.-based firm.

The European Commission has cleared two petrochemical deals: Saudi Basic Industries Corp.'s purchase of Huntsman Corp.'s U.K. petrochemicals operations and Basell's purchase of the Münchsmünster, Germany, ethylene cracker from Ruhr Oel, a joint venture between BP and PDVSA.

Teijin Chemicals will increase its Chinese polycarbonate capacity by 60% to 160,000 metric tons per year. A new production line in Jiaxing, Zhejiang province, is scheduled to open in March 2009 at a cost of $92 million.

FMC Corp. and BASF have cross-licensed insecticidal ingredients for the U.S. market. As a result, BASF gains access to FMC's zeta-cypermethrin, and FMC can use BASF's pendimethalin and imazethapyr.

Albemarle has created a new alternative fuel technologies division. It will focus on developing catalysts for oil sands, coal-to-liquids, and biomass-to-fuel technologies.

ICI's National Starch unit is building a $20 million emulsion polymers unit in Shanghai's Songjiang Industrial Development Zone. The plant is scheduled for completion in mid-2007. The company recently announced a technical center and a construction polymers plant for China.

Japan's Itochu will spend $8.5 million to acquire a 4% stake in NorSun, a company launched in December 2005 by Alf Bjorseth, the former CEO of Renewable Energy, a Norwegian producer of solar-grade silicon. NorSun plans to build a silicon wafer plant in Ardal, Norway.

 
Chemical & Engineering News
ISSN 0009-2347
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