Business Roundup | Chemical & Engineering News
Volume 86 Issue 33 | p. 15 | Concentrates
Issue Date: August 18, 2008

Business Roundup

Department: Business

DC Chemical, in South Korea, has signed a contract worth $575 million to supply polysilicon to SolarWorld from 2010 to 2016. SolarWorld, a leading German manufacturer of solar cells, also sources raw materials from its joint solar silicon venture Deutsche Solar.

Ashland has received an early go ahead from the Department of Justice and the Federal Trade Commission for its $3.3 billion acquisition of Hercules. The companies expect to complete their transaction by the end of the year.

Kemira is investigating “ownership alternatives” for its subsidiary Galvatek, which supplies surface treatment plants and industrial water treatment plants and maintenance services. With a staff of 33 and headquarters in Finland, Galvatek had sales of about $24 million in 2007.

Lanxess plans to move its headquarters to Cologne, Germany, from Leverkusen, Germany, where it has been based since it was spun out of Bayer in 2005. Relocation is to be completed by 2011. Lanxess says it has outgrown the buildings it occupies at Leverkusen Chempark and needs its management consolidated under one roof.

Chembiotek, a subsidiary of TCG Lifesciences, has started operating a small-scale facility in India that can produce kilogram-quantities of active pharmaceutical ingredients for use in human trials. The Calcutta-based contract research company says the facility complies with FDA’s current Good Manufacturing Practices.

Bristol-Myers Squibb has signed on to use Tekmira Pharmaceuticals’ technology to deliver small interfering RNAs (siRNAs). BMS had an siRNA drug-delivery pact with Protiva Biotherapeutics, which recently merged with Tekmira. BMS is employing Tekmira’s liquid nanoparticle technology to deliver RNA-interference drugs to specific organs and tissues outside the liver.

Merck & Co. has licensed an investigational oral anticoagulant drug to Diakron Pharmaceuticals, a private New Jersey-based drug company. At the same time, India’s Orchid Chemicals & Pharmaceuticals has become a “significant” shareholder in Diakron and a codeveloper of the drug.

Bayer Schering Pharma has acquired a preclinical oncology drug program from the Swiss drug company Nycomed. The deal includes two drug candidates and several backup compounds targeting a kinase critical for cancer cell survival. Nycomed could receive payments totaling about $75 million.

Wacker Chemie has developed a new synthesis for Amdoxovir, an anti-HIV drug now in Phase II clinical studies by RFS Pharma. Wacker and RFS signed an agreement giving exclusive rights to the new synthesis to RFS.

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