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Business

Business Roundup

June 7, 2010 | A version of this story appeared in Volume 88, Issue 23

DuPont has sold its business in nonmixture mancozeb fungicides, including a plant in 
Barranquilla, Colombia, to India’s United Phosphorus for an undisclosed sum. United Phosphorus earlier bought DuPont’s fenbutatin oxide miticide and triphenyltin hydroxide fungicide businesses.

Dow Corning will spend up to $13 million to build solar energy exploration and development centers in Seneffe, Belgium. A synthesis technology center will house chemists focused on silicon-based materials. A solar solutions application center will work on photovoltaic cells.

DSM has completed the sale of its nitrogen fertilizers and melamine business to Egypt’s Orascom Construction Industries for $420 million. The deal includes a fertilizer complex in Geleen, the Netherlands. Separately, DSM has completed the swap of its polycarbonate business for Mitsubishi Chemical’s nylon unit.

Nichia, a Japanese firm that calls itself the world’s largest supplier of white-light-emitting diodes, will cooperate with India’s Sujana Energy to develop lighting products for the Indian market. Sujana says energy-efficient LED lighting systems have bright prospects in energy-deficient India.

Air Liquide has acquired Amco-Gaz, a 
Poland-based distributor of liquefied and compressed gases with 90 employees. The French firm says it plans to invest $120 million in Poland this year.

Sanofi-Aventis and Japan’s Nichi-Iko Pharmaceutical are forming a joint venture to distribute generic drugs in Japan. The new entity, owned 51% by Sanofi and 49% by Nichi-Iko, will take advantage of government policies encouraging the use of generics.

VaxGen is combining with the diagnostics maker diaDexus. VaxGen will issue shares to give its shareholders a 62% stake in a combined company and provide a loan of up to $6 million to diaDexus. The merged firm will be called diaDexus and be run by former diaDexus managers.

Sanofi-Aventis has formed an alliance with MIT’s Center for Biomedical Innovation. Called the Sanofi-Aventis Biomedical Innovation Program, the alliance will fund MIT researchers over the next three years. Sanofi can develop new products based on discoveries made during the pact.

Tetraphase Pharmaceuticals has raised $45 million in a new round of financing led by Excel Venture Management. Tetraphase, an antibiotic drug development firm spun out of the labs of Harvard University chemistry department chair Andrew G. Myers, plans to use the proceeds to progress three compounds into Phase I and II clinical studies.

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