- Email: [email protected]
Danisco 2005: business development
FOCUS Including the Thann divestiture charge of $89.2 M, the Fine Chemicals segment loss for 3Q 2006 was $73 M. R&D expenses were $11.549 M for 3Q 2006 ($10.107 M in 3Q 2005) and $34.192 M for nine months of 2006 ($31.429 M in nine months of 2005). Albemarle 3Q and nine months of 2006 results, Albemarle Corp, 330 South Fourth Street, PO Box 1335, Richmond, VA 23210, USA. Tel: +1 804 788 6000. Fax: +1 804 388 7686. Website: http://www.albemarle.com (18 Oct 2006)
BASF benefits from new environmental laws BASF’s newly acquired environmental catalyst business will benefit from the introduction of more stringent environmental laws, principally in the USA and Europe. The company estimates a 50% increase in the level of revenue growth from catalytic exhaust converters for cars with the implementation of emission regulation standards. Global revenues from these materials are seen to climb by around 6%/y through 2010 from the current $2.5 bn. BASF’s purchase of Engelhard in 2006 marked its entry into the environmental catalyst market. In 2005, Engelhard’s environmental catalyst unit, which specializes in automotive catalysts, generated sales of $1.1 bn (€870 M). The automotive catalyst operations complement BASF’s units, including engineering materials coatings and performance coatings, which serve the automotive market. With such attractive prospects for growth, BASF has identified the automotive industry as a major market. The sector accounts for 11% of BASF’s North American sales. ICIS Chemical Business, 16 Oct 2006 (Website: http://icischemicalbusiness.com)
Danisco 2005: business development For its fiscal 2005 Danisco A/S has reported on its business development ventures. Danisco supports the development of new business areas in order to identify, acquire, or license new products and technologies from external sources such as universities, institutions, start-ups, and other businesses. Danisco has also launched a number of evaluation projects relating to opportunities in health and nutrition. Originally, Danisco Venture was established with
DECEMBER 2006
ON
C ATA LY S T S
the purpose of investing in strategic technology. The takeover of Genencor provided an excellent biotechnology platform offering a host of attractive investment opportunities. Consequently, the company will no longer seek investments in new venture companies but will continue to invest in the existing portfolio companies. About DKR 100 M has been invested in venture activities to date. Danisco Annual Report 2005, 26 Jun 2006, 15 (Danisco A/S, Langebrogade 1, PO Box 17, DK-1001 Copenhagen K, Denmark. Tel: +45 3266 2000. Fax: +45 3266 2175. Website: http://www.danisco.com)
Danisco 2005: key product launches in 2005/2006 Danisco A/S has reported on its key product launches for its fiscal 2005. Stargen: A new and highly attractive bioethanol enzyme used in a new cold-process production method which will reduce the production costs of bioethanol and enhance the production volume obtained from a certain quantity of raw material such as corn. This type of enzyme is expected to capture a significant share of the future bioethanol market. Danisco Annual Report 2005, 26 Jun 2006, 14 (Danisco A/S, Langebrogade 1, PO Box 17, DK-1001 Copenhagen K, Denmark. Tel: +45 3266 2000. Fax: +45 3266 2175. Website: http://www.danisco.com)
Danisco may have to pay Novozymes $50 M In Aug 2006 it was ruled that Danisco had infringed Novozymes’ US patent for an enzyme used in ethanol production and the company could now be asked to pay up to $50 M in compensation. In the first instance Novozymes will seek $18 M in damages at the court in Delaware. It will try to prove that Danisco, via its company Genencor, knowingly infringed its patent. However, the court could triple this sum.
already used in Suzuki coupling reactions, amination, and arylketones formations but now DHC has confirmed that it can also effect reducing carbonylation reactions. Using aryl halogenides, a single stage reaction using the product generates aromatic aldehydes. These compounds are intermediates used by the pharmaceutical fine chemicals industry. The technology, which uses a di(adamantyl) phosphine ligand, was developed in collaboration with the Leibniz Institute and is more effective whilst more gentle than the traditional process. The process has already been scaled up to industrial level at DHC’s site. Another advantage the process offers is that it does not require large amounts of dangerous raw materials. Info Chimie Magazine, Feb 2006, (469), 33 (in French)
Genzyme reports strong 3Q 2006 financial results Genzyme Corp reported revenue of $808.6 M for 3Q 2006 ($708.1 M in 3Q 2005). GAAP net income was $16 M for 3Q 2006 (GAAP income of $115.7 M in 3Q 2005). Non-GAAP net income for 3Q 2006 increased to $195.9 M (non-GAAP net income of $160.5 M in 3Q 2005). A significant new contributor to Genzyme’s top line is Myozyme (alglucosidase alfa). The product is off to a highly encouraging start following its launch in the US in mid-May 2005 and in Europe a month earlier. Unaudited consolidated statements of operations of the company for three and nine months ended Sep 2005 and 2006, reconciliation of GAAP to non-GAAP earnings for three months ended Sep 2006, and unaudited condensed consolidated balance sheet data as on 31 Dec 2005 and 30 Sep 2006, are given in five enclosed tables.
Dagbladet Borsen, 11 Oct 2006 (Website: http://www.borsen.dk) (in Danish)
Genzyme 3Q and nine months of 2005-2006 results, 12 Oct 2006 (Genzyme Corp, One Kendall Square, Cambridge, MA 02139, USA. Tel: +1 617 252 7500. Fax: +1 617 252 7600. Website: http://www.genzyme.com)
New applications for Degussa’s cataCXium A
Grace announces new BioFuel Technologies Group
Degussa’s new start-up company Degussa Homogeneous Catalysts (DHC) has extended the range of catalytic reactions produced by its product cataCXium A. This catalyst is
Grace Davison, an operating segment of WR Grace & Co, has established the BioFuel Technologies Group that will oversee intensified product development in the renewable fuels
3
BASF benefits from new environmental laws BASF’s newly acquired environmental catalyst business will benefit from the introduction of more stringent environmental laws, principally in the USA and Europe. The company estimates a 50% increase in the level of revenue growth from catalytic exhaust converters for cars with the implementation of emission regulation standards. Global revenues from these materials are seen to climb by around 6%/y through 2010 from the current $2.5 bn. BASF’s purchase of Engelhard in 2006 marked its entry into the environmental catalyst market. In 2005, Engelhard’s environmental catalyst unit, which specializes in automotive catalysts, generated sales of $1.1 bn (€870 M). The automotive catalyst operations complement BASF’s units, including engineering materials coatings and performance coatings, which serve the automotive market. With such attractive prospects for growth, BASF has identified the automotive industry as a major market. The sector accounts for 11% of BASF’s North American sales. ICIS Chemical Business, 16 Oct 2006 (Website: http://icischemicalbusiness.com)
Danisco 2005: business development For its fiscal 2005 Danisco A/S has reported on its business development ventures. Danisco supports the development of new business areas in order to identify, acquire, or license new products and technologies from external sources such as universities, institutions, start-ups, and other businesses. Danisco has also launched a number of evaluation projects relating to opportunities in health and nutrition. Originally, Danisco Venture was established with
DECEMBER 2006
ON
C ATA LY S T S
the purpose of investing in strategic technology. The takeover of Genencor provided an excellent biotechnology platform offering a host of attractive investment opportunities. Consequently, the company will no longer seek investments in new venture companies but will continue to invest in the existing portfolio companies. About DKR 100 M has been invested in venture activities to date. Danisco Annual Report 2005, 26 Jun 2006, 15 (Danisco A/S, Langebrogade 1, PO Box 17, DK-1001 Copenhagen K, Denmark. Tel: +45 3266 2000. Fax: +45 3266 2175. Website: http://www.danisco.com)
Danisco 2005: key product launches in 2005/2006 Danisco A/S has reported on its key product launches for its fiscal 2005. Stargen: A new and highly attractive bioethanol enzyme used in a new cold-process production method which will reduce the production costs of bioethanol and enhance the production volume obtained from a certain quantity of raw material such as corn. This type of enzyme is expected to capture a significant share of the future bioethanol market. Danisco Annual Report 2005, 26 Jun 2006, 14 (Danisco A/S, Langebrogade 1, PO Box 17, DK-1001 Copenhagen K, Denmark. Tel: +45 3266 2000. Fax: +45 3266 2175. Website: http://www.danisco.com)
Danisco may have to pay Novozymes $50 M In Aug 2006 it was ruled that Danisco had infringed Novozymes’ US patent for an enzyme used in ethanol production and the company could now be asked to pay up to $50 M in compensation. In the first instance Novozymes will seek $18 M in damages at the court in Delaware. It will try to prove that Danisco, via its company Genencor, knowingly infringed its patent. However, the court could triple this sum.
already used in Suzuki coupling reactions, amination, and arylketones formations but now DHC has confirmed that it can also effect reducing carbonylation reactions. Using aryl halogenides, a single stage reaction using the product generates aromatic aldehydes. These compounds are intermediates used by the pharmaceutical fine chemicals industry. The technology, which uses a di(adamantyl) phosphine ligand, was developed in collaboration with the Leibniz Institute and is more effective whilst more gentle than the traditional process. The process has already been scaled up to industrial level at DHC’s site. Another advantage the process offers is that it does not require large amounts of dangerous raw materials. Info Chimie Magazine, Feb 2006, (469), 33 (in French)
Genzyme reports strong 3Q 2006 financial results Genzyme Corp reported revenue of $808.6 M for 3Q 2006 ($708.1 M in 3Q 2005). GAAP net income was $16 M for 3Q 2006 (GAAP income of $115.7 M in 3Q 2005). Non-GAAP net income for 3Q 2006 increased to $195.9 M (non-GAAP net income of $160.5 M in 3Q 2005). A significant new contributor to Genzyme’s top line is Myozyme (alglucosidase alfa). The product is off to a highly encouraging start following its launch in the US in mid-May 2005 and in Europe a month earlier. Unaudited consolidated statements of operations of the company for three and nine months ended Sep 2005 and 2006, reconciliation of GAAP to non-GAAP earnings for three months ended Sep 2006, and unaudited condensed consolidated balance sheet data as on 31 Dec 2005 and 30 Sep 2006, are given in five enclosed tables.
Dagbladet Borsen, 11 Oct 2006 (Website: http://www.borsen.dk) (in Danish)
Genzyme 3Q and nine months of 2005-2006 results, 12 Oct 2006 (Genzyme Corp, One Kendall Square, Cambridge, MA 02139, USA. Tel: +1 617 252 7500. Fax: +1 617 252 7600. Website: http://www.genzyme.com)
New applications for Degussa’s cataCXium A
Grace announces new BioFuel Technologies Group
Degussa’s new start-up company Degussa Homogeneous Catalysts (DHC) has extended the range of catalytic reactions produced by its product cataCXium A. This catalyst is
Grace Davison, an operating segment of WR Grace & Co, has established the BioFuel Technologies Group that will oversee intensified product development in the renewable fuels
3