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Business

ICIG will acquire Novartis drug plant

by Michael McCoy
February 29, 2016 | APPEARED IN VOLUME 94, ISSUE 9

International Chemical Investors Group has agreed to acquire a Novartis enzyme-based fermentation products plant in Frankfurt. With the purchase, ICIG will become a major supplier of 7-aminocephalosporanic acid, an antibiotic intermediate. ICIG also plans to use the intermediate at its Latina, Italy, antibiotics plant. Since its inception in 2004, ICIG has acquired 24 chemical and drug businesses from major companies.

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