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Business Roundup

January 28, 2013 | A version of this story appeared in Volume 91, Issue 4

Novozymes has appointed Peder H. Nielsen as president and CEO, effective April 1. He will replace Steen Riisgaard, who has held the position for the past 12 years. Novozymes, a Danish firm, is the world’s largest maker of industrial enzymes.

BASF has acquired 97% of the outstanding shares of Pronova BioPharma, a Norway-based maker of omega-3 dietary supplements, after it offered an 8% share price increase to holdouts in its takeover bid. BASF says it will obtain the remaining 3% in a “squeeze out” action within the next few weeks.

Reichhold, a manufacturer of unsaturated polyester resins for coatings, will close its facility in Newark, N.J. The plant was damaged by Hurricane Sandy on Oct. 30, 2012, and production has since been shifted to other Reichhold sites.

Chevron Phillips Chemical is studying an expansion of linear α-olefins at its Cedar Bayou site, in Texas. The project would add 20% to the plant’s capacity of nearly 1.5 billion lb per year. Pending a final go-ahead, the company anticipates starting construction in early 2014 and completing it by the end of 2015.

Xylem has won $158 million in financing from the European Investment Bank to fund R&D projects across Europe. Xylem, a water technology firm, will study new means of biological water treatment, desalination, filtration, and disinfection at seven European facilities.

McPhy Energy, a French hydrogen fuel cell firm, has raised $13 million from the French government’s Ecotechnologies fund and earlier investors. McPhy will use the money to develop its solid-state hydrogen storage technology based on metal hydrides.

Almac has completed a technology transfer program with Queen’s University Belfast under which it accessed fer- mentation and biopro- cessing expertise. The pharmaceutical services firm says the expertise increased its biocatalysis offering, “allowing us to compete in an area which was previously beyond our reach.”

Actavis has acquired Belgium’s Uteron Pharma for $150 million in cash plus up to $155 million in potential future milestone payments. Uteron, a 60-person spin-off of the University of Liège, is developing female health care products including a novel oral contraceptive.

Bristol-Myers Squibb has named Mike Burgess as its head of discovery medicine and clinical pharmacology. Burgess previously served as interim head of Roche’s pharmaceutical research and early development unit. John C. Reed, former CEO of Sanford-Burnham Medical Research Institute, took on that job earlier this month.



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