Business Roundup | Chemical & Engineering News
Volume 89 Issue 50 | p. 17 | Concentrates
Issue Date: December 12, 2011

Business Roundup

Department: Business

Momentive Specialty Chemicals is contesting with China’s State Intellectual Property Office the validity of Hebei Shield Excellence Technology’s patents to make glycidyl ester monomers. Momentive also filed suit with a Chinese court seeking an injunction to stop the Chinese firm’s alleged violation of its glycidyl ester patents.

Bayer CropScience has sold two fungicide brands—Rovral, with the active ingredient iprodione, and Sportak, with the active ingredient prochloraz—to FMC for an undisclosed sum. Bayer is restructuring its crop protection business to focus on key brand families.

Evonik Industries plans to build a 20,000-metric-ton-per-year nylon 12 plant in Asia within three years. The German firm, which calls itself the sole integrated producer of nylon 12, will also expand its existing plant in Marl, Germany, by 5,000 metric tons by 2012.

Air Liquide will spend $47 million to build an air separation unit in Singapore. The plant will supply a joint venture of the Taiwanese companies Chang Chun and Dairen Chemical that produces allyl alcohol, vinyl acetate, and cumene. Air Liquide says it has already invested $375 million in Singapore.

Ineos plans to build an ethylidene norbornene plant in Southeast Asia by the end of 2015. The chemical is a raw material for ethylene-propylene-diene rubber (EPDM).

AstraZeneca will reduce its U.S. sales force by 24%, or about 1,150 positions. The cuts are in addition to the 400 jobs the British firm recently said it would eliminate at its U.S. headquarters in Wilmington, Del.

Momenta Pharmaceuticals will acquire the Sialic Switch assets of Virdante Pharmaceuticals for $4.5 million up front and up to $51.5 million in milestone payments. The sialylation technology can be used to regulate the anti-inflammatory activity of proteins.

Bristol-Myers Squibb and Tibotec Pharmaceuticals will collaborate on the clinical development of BMS’s daclatasvir in combination with Tibotec’s TMC435 protease inhibitor to treat hepatitis C. According to BMS, daclatasvir is the first NS5A replication complex inhibitor to reach clinical trials.

 
Chemical & Engineering News
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