Volume 89 Issue 36 | p. 28 | Concentrates
Issue Date: September 5, 2011

DSM, Sinochem Seal Antibiotics Deal

Department: Business
News Channels: Biological SCENE

DSM and Sinochem have completed a 50-50 joint venture that will own DSM’s anti-infectives business, one of the world’s largest manufacturers of penicillin and other antibiotics. Under the agreement, first announced in December 2010, Sinochem paid about $300 million for its 50% stake in the business, which has annual sales of roughly $425 million and about 2,000 employees. It will be named DSM Sinochem Pharmaceuticals and will have headquarters in Hong Kong.

 
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