Volume 89 Issue 29 | p. 18 | Concentrates
Issue Date: July 18, 2011

Business Roundup

Department: Business

MacDermid plans to raise up to $200 million in an initial public offering of stock. The firm, which supplies chemicals for electroplating, hydraulic control, printed circuit board fabrication, and other applications, had sales of $694 million last year. It went private in 2007.

LS9 has extended its research collaboration with Chevron to produce hydrocarbon products from sugar feedstocks via fermentation by engineered microbes. Separately, LS9 has partnered with MAN Latin America, a Brazil-based manufacturing company, to test its renewable diesel in stationary engines and fleet vehicles.

Praxair has signed a multiyear contract to supply high-purity hydrogen to Hemlock Semiconductor’s polysilicon plant, now under construction in Clarksville, Tenn. Separately, Praxair’s White Martins unit has signed a 15-year agreement to supply nitrogen and oxygen to Braskem’s polyvinyl chloride expansion in Alagoas, Brazil.

ElevancE Renewable Sciences and Clariant will cooperate in the field of renewable additives for plastics. The firms say they are combining Clariant’s market knowledge and formulation development capabilities with Elevance’s renewable products and process technology.

Valeant Pharmaceuticals has agreed to acquire Dermik, a Sanofi subsidiary that markets dermatology products including BenzaClin acne treatment and the facial injectable Sculptra. Valeant will pay Sanofi about $425 million for the business, which had sales last year of approximately $240 million.

Carbogen Amcis has named Mark C. Griffiths as CEO. Griffiths has been overseeing the construction of high-potency drug manufacturing facilities in China and India by Dishman Pharmaceuticals & Chemicals, the India-based parent of Carbogen.

Hikma Pharmaceuticals, a London-based drugmaker, has acquired a “significant” minority interest in China’s Hubei Haosun Pharmaceutical for $5.0 million. Haosun operates a plant in China’s Hubei province that specializes in active pharmaceutical ingredients for oncology.

Merrimack Pharmaceuticals plans to raise up to $172.5 million in an initial public offering. The antibody drug company says funds raised from the IPO will support further development of its lead cancer drug candidates as well as early-phase projects.

 
Chemical & Engineering News
ISSN 0009-2347
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