Business Roundup | October 19, 2009 Issue - Vol. 87 Issue 42 | Chemical & Engineering News
Volume 87 Issue 42 | p. 19 | Concentrates
Issue Date: October 19, 2009

Business Roundup

Department: Business

The European Commission is calling for a 10-year, $74.5 billion increase in spending to push forward low-carbon energy research in the European Union. The proposal calls for public and private research investments of, for instance, $24 billion in solar energy, $13 billion in bioenergy, $10 billion in nuclear fission, and $19 billion in carbon capture and sequestration projects.

Chinese government agencies have started a two-month campaign to tighten controls on chemicals that can be used in the manufacturing of narcotics and other types of illegal drugs. China estimates that it is home to about 130,000 producers of illegal drug precursors.

Air Products & Chemicals has won a contract to supply nitrogen, hydrogen, argon, oxygen, silane, and other specialty gases to DuPont Apollo in Shenzhen, China. The DuPont subsidiary recently opened R&D facilities in nearby Hong Kong.

CF Industries has signed an agreement to purchase up to 99 million cu ft of natural gas per day from a consortium of suppliers for a planned nitrogen fertilizer complex in Peru. The gas purchase price will be based on an index price for urea.

Evonik Industries and Solvias have revamped an agreement under which Evonik markets vanadium-doped precious-metal powder catalysts developed by Solvias for the hydrogenation of nitro compounds. Under the new deal, anyone purchasing the catalysts automatically acquires the rights to use them without additional fees.

BASF has licensed Materia's metathesis catalyst technology for use in research for specialty chemicals. BASF says it hopes its research will bring Materia's olefin metathesis technology the industrial impact it should have.

GlaxoSmithKline and Prosensa have entered a collaboration to develop RNA-based drugs for Duchenne muscular dystrophy. GSK will obtain an exclusive license to Prosensa's PRO051, which is set to enter a Phase III trial early next year. Prosensa will get a $25 million up-front payment and could earn as much as $655 million.

Genentech has licensed a SurModics drug delivery technology based on biodegradable microparticles. Genentech gains the right to use it in a sustained delivery form of Lucentis, its treatment for wet age-related macular degeneration. SurModics will get $3.5 million and could reap up to $200 million in other payments.

Compugen and Bayer Schering Pharma have signed a collaboration agreement to evaluate Compugen-discovered tumor targets. The agreement provides Bayer with an option for an exclusive license to develop therapeutic agents for the targets that Compugen initially predicted in silico.

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