Business news – Page 74
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BusinessGSK cuts US jobs in push for savings
Research Triangle Park site bears the brunt as drugmaker consolidates research in Philadelphia and Stevenage, UK
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Business
Otsuka to buy neurology specialist Avanir
$3.5bn deal adds to Otsuka’s mental health portfolio and strengthens its US presence
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BusinessCystic Fibrosis Foundation sells drug royalty rights for $3.3bn
‘Venture philanthropy’ model pays off with massive cash injection for charity
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Business
DuPont quantifies scale of deadly chemical leak
10.4 tonnes of methyl mercaptan were released in La Porte, US
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OpinionProgress at the pace of the slowest
Chemistry is rarely the rate-limiting process in getting a drug to market, says Derek Lowe
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Business
UCB sells speciality generics subsidiary
Firm will use $1.5bn proceeds to reduce debt and concentrate on developing new drugs in neurology and immunology
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Business
Syngenta to cut or relocate 1800 jobs in 2015
Global reorganisation plan will involve ‘consolidation’ of R&D facilities
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BusinessActavis rescues Allergan with $66 billion deal
Deal ends takeover fight with Valeant – but Actavis must still be ‘fairly ruthless’ to justify the high price
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Business
Ranbaxy sues over withdrawn US approvals
Company says decision is ‘unconstitutional’ and deprives it of hundreds of millions of dollars in revenue
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BusinessMethyl mercaptan leak kills four workers
Cause of accident at US DuPont plant is still under investigation
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News
Dow to sell nitroalkenes unit for $1.2bn
Private equity firm Golden Gate Capital will buy Angus Chemical subsidiary
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BusinessRussian sanctions hurt chemical industry
Equipment imports and modernisation hampered by extra administrative burden
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Business
Labcorp to buy Covance and enter contract research
Firm wants to diversify away from diagnostics, but law firm investigation suggests investors are unconvinced of the deal’s value
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Business
Perrigo to buy Omega Pharma for €3.6bn
Deal strengthens Perrigo’s over-the-counter portfolio and pushes strongly into Europe
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Business
Lanxess to cut 1000 jobs over two years
Agrium also cutting 500 positions and divesting underperforming business segments
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Business
Chinese buyer resurrects US Boehringer plant
UniTao will take over manufacturing site scheduled for closure, saving over 200 jobs
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Business
EU warns DuPont and Honeywell over green refrigerants
Commission thinks cooperation may have been anti-competitive
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FeatureFrom oil to chemicals
After decades of exporting oil, Saudi Arabia is looking to increase its capacity to produce chemicals. Emma Davies reports
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Business
Judge slashes fines in drug safety case
Takeda and Eli Lilly’s $9 billion damages in diabetes trial reduced to $38 million
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Business
Platform to expand in agrochemicals by buying Arysta
Business will be integrated with previous acquisitions for a broad crop protection portfolio