Mallinckrodt boosts specialty pharma unit with $1.3B Cadence buy | Oil and gas industry looks for faster, more efficient way to drill | Dow Chemical: Splitting company would lower value
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February 18, 2014
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Mallinckrodt boosts specialty pharma unit with $1.3B Cadence buy
Cadence Pharmaceuticals, the maker of pain and fever drug Ofirmev, will be purchased by Mallinckrodt Pharmaceuticals for around $1.3 billion, or $14 per share. Mallinckrodt said the deal would expand its portfolio of specialty pharmaceutical products and extend its reach into the hospital market, where many Cadence products are used. The deal, expected to be finalized in March, "is consistent with our goal of becoming a leading global specialty pharmaceuticals company," Mallinckrodt CEO and President Mark Trudeau said. Genetic Engineering & Biotechnology News (2/11), Reuters (2/11)
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Oil and gas industry looks for faster, more efficient way to drill
The oil and natural gas industry is looking for new ways to drill shale reserves with greater speed and efficiency in a bid to produce more oil. Companies such as Halliburton, Schlumberger and Baker Hughes have separately developed new technologies that would help their companies produce more oil from U.S. shale plays. "The industry is in a learning phase. Every well we drill, we learn more. I would maintain that the faster we drill, the faster we are going to learn," said Drillinginfo Vice President of Product Management John Fierstein. FuelFix.com (2/16)
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Dow Chemical: Splitting company would lower value
Third Point's proposal to split Dow Chemical's petrochemical and specialty-chemical operations from its core business would not improve Dow's productivity and would reduce its value, the chemical company said. An internal review found that "a break-up of the company in a significant manner ... created no productivity or capital allocation improvements," Dow said in a regulatory filing Feb. 11. Bloomberg (2/12), The Wall Street Journal (tiered subscription model) (2/11)
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PwC: Chemical asset divestitures to spur chemical M&A deals
The number of chemical merger and acquisition deals in the U.S. picked up in the final quarter of 2013, buoyed by the favorable economy and optimistic profit forecasts, according to PricewaterhouseCoopers. Chemical M&A activity will likely continue to be strong in the coming months and will be driven by firms looking to divest their non-core business assets, said A.J. Scamuffa, U.S. chemicals leader at PwC. American City Business Journals/Houston/Houston BizBlog (2/13)
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Chemical Technology News
Poplars genetically engineered to produce floral scented chemicals
Biochemists at Washington State University are genetically engineering poplar trees to produce 2-phenylethanol, a chemical that produces a floral scent. The goal, according to researchers, is to produce specialty chemicals to sell in the hope of propping up the biofuel industry. "We've been trying for many decades to understand how plants make these special chemicals that can be used in flavorings, fuels and medicinals, and that seemed like the obvious first place to target," said Norman Lewis, director of the Institute of Biological Chemistry at the university. The Washington Times/The Associated Press (2/10)
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Charge separation could make organic solar cells more efficient
Organic solar cells may be able to increase their typical energy-conversion efficiency of about 10% as a result of university research being done in the area of charge separation. Argonne National Laboratory, imec, and Northwestern, Penn State and Princeton universities have collaborated on the research, which is exploring the use of two different organic semiconductors positioned next to each other. CleanTechnica (2/7)
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Energy, Sustainability & Safety
New FDA study supports finding that BPA is safe in contact with food
A new study by the U.S. Food and Drug Administration found rats fed low doses of bisphenol A experienced no health effects. The doses used in the study are similar to what humans are routinely exposed to, this article notes. EnvironmentalHealthNews.org (2/13)
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Biological Engineering & Pharmaceuticals
California Stem Cell receives grant to help develop 3D retina
A $4.5 million grant from the California Institute of Regenerative Medicine has allowed California Stem Cell to tap the University of California at Irvine to continue research and development of transplantable 3D retinas using stem cells, which could lead to treatments for diseases such as age-related macular degeneration and retinitis pigmentosa. CSC will differentiate and culture the stem cells while UC Irvine will conduct in vivo studies at its Sue & Bill Gross Stem Cell Research Center. Healio (free registration)/Primary Care Optometry News (2/11)
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Materials & Nanotechnology
Researchers hone in on 3D printing of cellular materials
Stanford University researchers say they should be able to offer proof of concept by October for 3D printing of cellular materials. The process would produce arrays of cells that excrete non-living structural biomaterials, according to this article. These would mimic things such as wood, minerals and bone and even edibles like meat. TechCrunch (2/9)
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Education & Government Update
Industry groups, states name attorneys for Supreme Court emissions case
Lawyer Peter Keisler will represent industry groups before the Supreme Court in a case regarding the Environmental Protection Agency's rule on greenhouse-gas emissions. Texas Solicitor General Jonathan Mitchell will stand for Texas and other states also seeking to overturn the regulations. EENews.net (free content) (2/14)
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Career Focus
Ask this question before starting a job hunt
Before starting a job search, ask yourself why you want out of your current job, Scot Herrick writes. "The answer should allow you to filter out your anger at your work, your frustration with all things at the company, and get you to a place of 'By leaving, I will be able to do X with my career,' " he writes. CubeRules.com (2/12)
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Institute News
Access to Biotechnology Progress is free for a limited time
Wiley Online Library, AIChE's publishing partner, is providing free access to the new issue of the bi-monthly journal, Biotechnology Progress, produced for AIChE and its Society for Biological Engineering. Edited by Michael Domach of Carnegie Mellon, the issue's topics range from cell culture and tissue engineering to bioseparations and downstream processing. Read more.
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Video tutorial: Material balance basics
ChEnected, AIChE's blog, is featuring a brief "back to basics" video tutorial on material balance. Developed by the faculty at the University of Colorado, Boulder, the video is part of the "Learn ChemE" series. Watch.
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SmartQuote
Only in America could a refugee girl from Central Europe become secretary of state."
-- Madeleine Albright,
former U.S. secretary of state
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