CDMO Cambrex has sold its Drug Product business unit to Noramco. Terms were not disclosed. The business comprises product development, clinical and commercial manufacturing and packaging from facilities in Mirabel, Québec, and Whippany, New Jersey.
Solvay has published materials for an extraordinary shareholders’ meeting, including details of the executive leadership nominations for when it splits into two firms.
Italian CDMO Olon Group has announced a €10 million, multi-year expansion plan for its production site in Mahad, India. This will increase its chemical synthesis capacity for intermediates and APIs by 45%, particularly for products in high demand where Olon is already the market leader.
During its Q4 earnings update, Ashland announced plans for a series of “portfolio optimisation actions to further strengthen the company’s resilience and improve margins and returns in this uncertain environment”.
Ingevity has announced that it will close its site at DeRidder, Louisiana, by the end of 1H 2024 plus other cost reduction actions. Combined with previously announced cuts, these are expected to yield savings of $65-75 million/year from 2024 onwards.
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Solvay has published materials for an extraordinary shareholders’ meeting, including details of the executive leadership nominations for when it splits into two firms. The meeting will be held in Brussels on 8 December for shareholders to approve the split, which has been unanimously recommend by the board and the executive leadership.
During its Q4 earnings update, Ashland announced plans for a series of “portfolio optimisation actions to further strengthen the company’s resilience and improve margins and returns in this uncertain environment”. These are expected to improve adjusted EBITDA margins by about 2% and returns on net assets by 1.5-2%.
CDMO Cambrex has sold its Drug Product business unit to Noramco. Terms were not disclosed. The business comprises product development, clinical and commercial manufacturing and packaging from facilities in Mirabel, Québec, and Whippany, New Jersey.
CEO Thomas Loewald described this as “the result of a strategic decision to focus on core areas of growth and investment”. The company will henceforth prioritise its drug substance and analytical testing businesses, which are based across 13 sites worldwide, including the recently acquired Snapdragon Chemistry and Q1 Scientific.
