Fri 5 Sep 2008
Chemistry World's weekly round-up of money and molecules
Posted by James under BenchMonkey , News , The Commercial ChemistNo Comments
In this week’s Chemistry World business news round-up, we cover the escape from Hurricane Gustav, warnings over the Vytorin cancer risk, and hydrogen power in Europe’s cars.
Chemical Industry
Gustav weathered:
Chemical facilities in the US gulf coast survived Hurricane Gustav without incident or injury, according to the American Chemistry Council. Plants throughout the area are currently working to restore power, and restarting operations. Dow Chemical said its Plaquemine, Louisiana, plant suffered some damage, but this is not expected to effect restart.
Change at Clariant:
Swiss speciality chemicals company Clariant has appointed Hariof Kottmann (below) as new CEO, effective 1 October 2008. On announcing the position, chairman of the Clariant board Juerg Witmer said the company’s aim was to substantially improve performance. Kottmann joins Clariant from Germany’s SGL Group.
Reach management:
European chemical industry body Cefic has launched a service to facilitate information exchange between companies registering the same chemical under Reach, the new European chemicals regulation. The IBM-powered tool, SIEFreach, helps companies to collaborate once they set up a substance information exchange forum (Sief) after pre-registration.
Pharmaceuticals
Secret formula:
Serenex, a US oncology drug development company, has been awarded $57 million (£32 million) by a judge, who ruled that a chemist who formerly worked for the company stole formulations for experimental cancer drugs and gave them to Chinese business partners. The chemist, Yunsheng Huang, has reportedly fled the country - and the accused Chinese companies have failed to respond to the judgement. Serenex was bought by Pfizer in March 2008.
Alzheimer’s drug deal:
Pfizer has agreed a deal with San Francisco-based Medivation to develop and co-market a drug in development for Alzheimer’s and Huntingdon’s disease - which is based on a 25-year old Russian anti-allergy medicine. The drug - Dimebon - has been shown to inhibit brain cell death, and it is hoped could slow the progression of the disease, rather than simply treating the symptoms as the current generation of drugs do. Pfizer will pay an initial fee of $225 million, and up to $725 million if the drug reaches key milestones. The drug is on the verge of entering a second Phase III clinical trial for Alzheimer’s, and a Phase II trial for Huntingdon’s.
Medical journal cautions over Vytorin cancer risk:
The clinical trial that unexpectedly linked troubled cholesterol drug Vytorin with a statistically significant increase in cancer has been published in the New England Journal of Medicine. However, while the authors of the study suggest the link was likely due to chance, an editorial in the journal said that the link should not simply be dismissed, and that follow-up studies are needed.
Japanese pharma looks abroad:
Shionogi has become the latest Japanese company to expand by buying a foreign drugmaker. Following Takeda’s deal to buy Millennium Pharmaceuticals and Daiichi-Sanko’s proposed takeover of India’s Ranbaxy, Shionogi has agreed to buy US firm Sciele for $1.42 billion, boosting its presence outside Japan, where it is facing government-mandated price cuts.
Stent squeeze:
A clinical study by stent maker Boston Scientific, to compare the use of drug-eluting stents to prop open clogged arteries with heart bypass, has failed, showing instead that heart bypass is a better choice. The trial showed significantly more stent patients had to undergo repeat procedures. The stent market is worth about $4 billion annually, but has fallen due to safety concerns.
Meanwhile, a judge has cut the $250 million damages Boston Scientific had been told to pay stent rival Medtronic to just $19 million. Medtronic had accused Boston Scientific of violating several of its patents, but a federal judge has now found two of those patents unenforceable.
Energy
Hydrogen cars go Europe-wide:
The European Parliament has voted to introduce new rules on the approval of new hydrogen-powered vehicles. Currently, hydrogen cars have to be approved separately in each member state - but the rule change will mean hydrogen vehicles are included in the EU-wide approval system already used for conventionally powered cars. The change is intended to encourage the introduction of hydrogen-powered cars - although technical issues surrounding efficient hydrogen production and storage, and the lack of a filling station network, are also barriers.
Agrochemicals
Bayer targets further growth:
Bayer CropScience says it plans to launch 10 new crop protection products by 2012, with peak sales potential of over €1 billion (£808 million), as it looks to continue its record sales growth in the sector. The new products include insecticide spirotetramat, to be launched this year, plus three herbicides and three fungicides to be launched by 2010. Three further, undisclosed compounds are in development for launch by 2012. The company is continuing to increase its CropScience R&D budget, from €637 million in 2007 to over €700 million in 2012.
Meanwhile, an explosion and fire at a Bayer Cropscience plant in West Virginia, US, has left one worker dead and a second injured. The US Chemical Safety and Hazard Investigation Board (CSB) is investigating the blast.








