Cognis is considering the sale of its process chemicals and oleochemicals businesses, according to the company. Various strategic options for the businesses are being considered. Owners Capital Partners, Permira, and Schroder Ventures also plan to launch an initial public offering for Cognis, but are expected to wait until after 2005 to see if stock market conditions improve. NeuTec Pharma, a UK biopharmaceutical company targeting drug-resistant, life-threatening infections, has signed a contract for the commercial scale manufacturing of Mycograb, a human recombinant antibody and the company's lead product targeting invasive candidiasis, with CMC Biopharmaceuticals. The Denmark-based CMO specialises in Escherichia coli fermentation and will provide NeuTec with development, manufacturing, analytical and quality control services. US-based Avidia Research Institute and Boehringer Ingelheim's Austrian subsidiary have entered a multi-year development and manufacturing agreement, in which the latter will develop manufacturing technology for Avidia's Maxybody proteins and supply the US group with these products for use in clinical studies and commercial sale. US over-the-counter drug firm Perrigo has agreed to acquire Israeli drug developer Agis Industries for $818 million (€614m) in stock and cash. The acquisition will provide Perrigo with access to the generics market but also a position in active pharmaceutical ingredients (API) manufacturing. The combined companies will have annual revenues of approximately $1.3 billion.
