Informex ’05: Degussa to stick with pharma despite flat year

18 January 2005 21:50  [Source: ICIS news]

LAS VEGAS, Nevada (CNI)--International chemical company Degussa is committed to remaining in the pharmaceuticals business despite flat revenues in 2004, Peter Nagler, outgoing president of Degussa’s Exclusive Synthesis & Catalysts unit, said Tuesday.

 

Speaking to journalists at the Informex ’05 chemical conference and trade show here, Nagler noted that Degussa’s pharmaceutical market was “generally flat” last year. He added:  “We didn’t see a turnaround. I’d almost say it has been bad with no signs of improvement.”

 

Nagler explained that Degussa is dealing with issues such as low approval rates for new drugs, a tendency of customers to in-source much drug development and cost-containment programmes in Europe.

 

Degussa doesn’t expect a market turnaround until 2006-2007, he said, adding that “nevertheless, we still believe it is an attractive market.”

 

Nagler said there are signs of growth in the market, including an increased number of “pipeline” projects for new drugs. “We are still in a tough environment but we expect it to change,” he added.

 

Nagler said he plans to step down in February as president of Degussa’s Exclusive Synthesis & Catalysts unit so he can take the helm as head of Degussa’s South America operations.

 

Patrick Wohlhauser, head of Degussa’s construction chemicals unit, will become president of Exclusive Synthesis & Catalysts.

 

Sponsored by the Synthetic Organic Chemical Manufacturers Association (Socma), Informex is expected to draw 4000 people during its run through Thursday.

By: Brian Ford
+1 713 525 2653

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