I D
× COMMENTARYCOVER STORYIN THE NEWSNEWSFRONTSCHEMENTATOR + Show More
Chemical Engineering MagazineChementator Briefs
PDH catalyst Last month, Clariant's Catalyst business (Munich, Germany; www.clariant.com)…
BUSINESS NEWSTECHNICAL & PRACTICALFEATURE REPORTFACTS AT YOUR FINGERTIPSTECHNOLOGY PROFILESOLIDS PROCESSINGENGINEERING PRACTICEEQUIPMENT & SERVICESFOCUS
Focus on Pumps
Self-priming, liquid-ring pumps enable hygienic operation The CFS AS/ASH Series…
NEW PRODUCTS + Show More

Comment Business & Economics

Evonik acquires Eli Lilly’s Tippecanoe manufacturing site

By Gerald Ondrey |

Evonik Industries AG (Essen, Germany; www.evonik.de) has agreed to acquire Indianapolis, Indiana-based Eli Lilly and Co’s (Indianapolis, Ind.) Tippecanoe Laboratories manufacturing facility in Lafayette, Indiana. The site, which employs about 700, manufactures active pharmaceutical ingredients (API) and precursor materials for the pharmaceutical industry. The purchase price was not disclosed. The transaction is expected to close by the end of the year, pending approvals from regulatory agencies. The Tippecanoe plant will be fully integrated into Evonik’s global production and marketing network. “The acquisition of Tippecanoe Laboratories enables us to meet the growing demand for intermediates and active pharmaceutical ingredients in the pharmaceutical industry and substantially boosts our global exclusive synthesis business,” says Klaus Engel, CEO of Evonik Industries. “The pharmaceutical market is attractive, economically stable, and produces growth rates near the double-digit range every year.” In addition to the acquisition of the site, Evonik and Lilly will also enter into a multi-year supplier agreement for active pharmaceutical ingredients and intermediates.    
Related Content
Victaulic acquires Globe Fire Sprinkler
Effective July 8, 2019, Victaulic (Lehigh Valley, Pa.; www.victaulic.com) has purchased Globe Fire Sprinkler (Standish, Mich.; www.globesprinkler.com). Combined, the two…

Chemical Engineering publishes FREE eletters that bring our original content to our readers in an easily accessible email format about once a week.
Subscribe Now
Quadruple Sensor Lifetime with a Retractable Housing
Minimizing Explosion Risk Where Other Solutions Cannot
Minimizing Corrosion with Fast, Robust Gas Analysis
Lower Measurement Point Costs with Automatic pH Sensor Cleaning
Reduce the Risk of Corrosion in Fertilizer Production

View More

Live chat by BoldChat