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CordenPharma changes hands

Private equity firm Atorg has agreed to acquire CDMO CordenPharma from International Chemical Investors Group (ICIG), subject to customary regulatory approvals. The founders, Patrick Schnitzer and Dr Achim Riemann, will also reinvest in the firm and CEO Michael Quirmbach remains in place.

EC publishes Restrictions Roadmap

The European Commission has published a Restrictions Roadmap under REACH, describing this as “an important step forward to provide detailed information on all ongoing work on future restrictions under the EU chemical legislation”.

Onyx Scientific opens second site

CDMO Onyx Scientific has opened a second facility at its headquarters site in Sunderland, UK.This doubles its footprint and allows for expansion of all CMC activities, including additional GMP facilities that increases capacity for GMP and commercial API manufacturing capacity by 50%.

BASF to end Russian activity

BASF’s board has decided to also wind down all business activities in Russia and Belarus by the beginning of July, except those needed to support food production. The company said that the decision was driven by the recent developments in the war in Ukraine and international law, including the fifth sanctions package by the EU.

Clariant completes financial investigation

Clariant has announced that an external investigation of accounting issues related to provisions and accruals has been concluded. As a result, the 2020 financial statements and corrections to quarterly reporting of key financial data for 2020 and 2021will be restated. This will have no impact on the sales, cash and cash equivalents figures reported for these years.

Dow to add alkoxylation capacity

Dow has announced plans to expand its alkoxylation capacity in the US and Europe in 2024 and 2025. The investments are backed by supply agreements with customers and are being made to meet 10-15%/year growth in end markets including home and personal care, industrial and institutional cleaning, pharmaceuticals and crop protection.

Feature article - Preparing for natech disasters

Jonathan Sharp, CFO of Environmental Litigation Group, looks at the impact on public health from increasing number of climate change-induced industrial disasters

Over the past decades, the discussion regarding climate change has shifted from estimated potential outcomes to far more urgent concerns regarding the reduction of its immediate adverse effects. Rising sea levels, coastline erosion and extreme weather events result directly from anthropogenic activities affecting global climate patterns.

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