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Latest From Solvay SA
Beiersdorf Is Having Record Year For Sun Care, Seeing China Recovery, But Full-Year Outlook Is Guarded
The Hamburg, Germany-based firm defied economic and political headwinds and China troubles in the fiscal 2022 first half to book organic net sales growth of 10.5% to €4.5bn worldwide. Despite optimism about China recovery, sun care, and its recent Chantecaille acquisition, Beiersdorf is projecting a slowdown in the second half in what remains a volatile operating environment.
Public Company Edition: MAIA launches a $10m initial public offering, the first in the US since May, but NewAmsterdam opts for the SPAC route to the stock market. Also, Legend raises $350m in a follow-on offering, Iveric obtains access to $250m in debt and Otonomy cuts costs after a Phase II failure.
French AI-driven drug design firm will employ multiple technology platforms in latest tie-ups. Apellis looks to augment Empaveli-led portfolio in C3 complement R&D alliance with Affilogic.
Public Company Edition: The stock market has been unkind to biotech firms but investors rewarded some drug developers for clinical trial successes, including Scholar Rock and Day One, which raised $205m and $172.5m, respectively. However, some SPAC deals and an IPO never got off the ground.
- Other Names / Subsidiaries
- Laboratories Ireland Ltd.
- Innogenetics nv