Chemistry World’s roundup of money and molecules
Posted by Andrew on Fri 3 Feb 2012Categories: The Commercial Chemist , The Commercial Chemist - Friday edition | No Comments
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India investing big in clean energy – Merck strikes deal with Threshold – And Valeant buys Probiotica
PHARMACEUTICAL – The news that UK pharma giant AstraZeneca is to cut a further 7300 jobs is not a sign that the UK pharma industry is at risk, according to the Association of the British Pharmaceutical Industry (ABPI). ‘AstraZeneca has a long history of investment as a big employer and contributor to the economy as well as the progress of innovation in life sciences,’ it said in response to the announcement. ‘That will continue.’ It added that the industry had ‘moved beyond purchaser and seller transactional relationships’ and that the UK government has done much to encourage investment – but that it needs to follow through on recent commitments.
GREENTECH – Investment in clean energy projects in India hit $10.3 billion (£6.5 billion) in 2011 representing a 52% increase compared with the previous year, according to information from data analysis firm Bloomberg New Energy Finance. The growth was driven by a ‘seven-fold’ increase in funding for grid connected solar projects: from $600 million in 2010 to $4.2 billion in 2011. The analysts add that there is room for further expansion: ‘In 2011, India accounted for 4% of global investment in clean energy’.
CHEMICAL – German chemical giant BASF says that the value of its agrichemical pipeline has increased by €400 million (£330 million) to €2.8 billion. The growth has come from seed treatment fungicide F500 (pyraclostrobin), for protecting soybeans, corn and cereals, which the company expects to generate peak annual sales of sales of €1 billion. The pipeline also includes Xemium, a carboxamide fungicide to be launched in 2012 and used as a seed treatment for protecting crops from a wide range of pathogens. BASF says that in 2011 it invested 10% of its agrichemical sales in R&D.
PHARMACEUTICAL – German drug maker Merck KGaA has struck a deal with US start-up Threshold Pharmaceuticals that gives Merck rights to TH-302, a small molecule anticancer drug candidate in phase III development. The candidate targets a type of tumour cell that is particularly difficult to treat – one that is able to grow and reproduce in a very low oxygen environment. Merck will pay €19 million upfront and up to €41.5 million if and when key milestones are passed.
PHARMACEUTICAL – Canadian pharma company Valeant has bought Brazilian food supplements firm Probiotica Laboratorios for R$150 million (£55 million). Valeant says that Probiotica has a 30% share of the market for food supplements, including over the counter sports nutrition products, in Brazil. Probiotica made R$80 million in sales in 2011.
Andrew Turley













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