Chemistry World’s roundup of money and molecules
Posted by Andrew on Fri 27 Jan 2012Categories: The Commercial Chemist , The Commercial Chemist - Friday edition | No Comments
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US approves skin treatment – Amgen buys Micromet for $1.16bn – And Dow enters carbon fibre joint venture
PHARMACEUTICAL – Privately owned Danish pharma company Leo Pharma has won US approval for anticancer treatment Picato gel (ingenol mebutate). Specifically, the gel has been approved for treating actinic keratosis, which causes red scaly skin lesions as a result of sun exposure and can lead to non-melanoma skin cancer. Leo, which specialises in dermatology, acquired Picato when it bought Australian firm Peplin in 2009 for A$350 million (£240 million).
PHARMACEUTICAL – US biotech Amgen has bought German biotech Micromet for $1.16 billion (£740 million) in cash. Amgen will gain blinatumomab, a bi-specific T cell engager antibody in phase II trials for treating leukaemia. Micromet is also investigating the use of blinatumomab for treating non-Hodgkin’s lymphoma and other blood conditions. The move builds on a €695 million (£600 million) licensing deal struck between biotech Amgen and Micromet in July 2011.
PHARMACEUTICAL – Pharma industry ‘deal making activity’ fell by 18% in 2011 as companies struggled to reduce costs associated with R&D and mitigate loss of sales associated with patent expiries, according to data from advisory firm PharmaVentures. But many companies nonetheless bought others, with the value of such purchases rising 30%. Oncology deals were particularly popular, with Roche the most prolific deal maker.
PHARMACEUTICAL – News Corporation chair and chief executive James Murdoch is to leave the board of UK pharma company GlaxoSmithKline after three years. Specifically, he will not stand for re-election at the 2012 annual general meeting. GSK chair Christopher Gent said that Murdoch had made the decision to ‘focus on his current duties as non-executive chair of BSkyB’. In recent months, James Murdoch, alongside his father, media mogul Rupert Murdoch, has been deeply involved in an ongoing UK investigation into press freedom and in particular the controversial practice of ‘phone hacking’.
CHEMICAL – Dow has signed a deal to create a joint venture with Turkish acrylic company Aksa Akrilik Kimya Sanayii to make carbon fibre composite products. Dow says that the global market for such products is $10 billion and it is expected to reach $40 billion by 2022. Each company will have a 50% stake in the joint venture, which will represent $1 billion of investment within five years and create up to 1000 jobs.
CHEMICAL – Bayer has won US approval for its TwinLink genetic modification for cotton. The modification gives cottons plants two special traits: resistance to caterpillars and tolerance of glufosinate ammonium herbicides. When released commercially, the modification with be stacked with the GlyTol modification, which confers glyphosate tolerance.
Andrew Turley














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