Chevron Phillips Chemical is focused on North America and customer solutions, said Dan Coombs, senior vice president of specialties, aromatics and styrenics. Among the company's products is a polyphenylene sulfide material used to make lightweight, plastic automotive-turbocharger components.
Dow Chemical, Braskem and Rhodia are among a number of petrochemical firms looking to establish renewable-based chemical production facilities in Brazil, according to this analysis. Such investments are getting more attractive as sugar prices decline and the production of renewable chemicals becomes cheaper. "Brazil will produce half of the world's bio-based chemicals by 2020," said Pedro Fortes, operations director for Eastman's Brazilian unit.
Sanofi announced it would offer a 50% discount to doctors and hospitals on cancer drug Zaltrap after three doctors from Memorial Sloan-Kettering Cancer Center publicized the health system's refusal to prescribe the drug because it was too expensive and no more effective than similar drugs. Medicare reimbursement and patient co-payments will be based on the higher list price in the short term.
The U.S. International Trade Commission has affirmed a decision last month by the Obama administration to impose tariffs and anti-subsidy fees for five years on Chinese companies exporting solar panels and related products. The tariffs will stand for five years before coming up for reconsideration.
BP and the federal government have reached an $8 million settlement over alleged pollution violations at the company's refinery in Whiting, Ind. BP also agreed to spend about $400 million to install pollution controls for processing Canadian heavy crude oil. "We look forward to completion of the modernization project, which will improve the refinery's efficiency and competitiveness while continuing to reduce emissions," said Nick Spencer, the plant's manager.