Avecia creates pharma and biotech businesses to spearhead growth

Avecia has rearranged its business into four units as part of its strategy to double its fine chemicals sales within the next three years.

Speaking at the Informex exhibition in New Orleans in January, coo David Greensmith said that two new business units would be created, Avecia Biotechnology and Avecia Pharmaceuticals, to complement the existing agrochemicals and intermediates & stabilisers businesses.

The company is to invest a further US$3m in chemical development facilities at its site in Grangemouth, UK. Another US$4m investment at its subsidiary Torcan Chemical in Canada will see expanded r&d capability brought on-stream by the autumn of this year. Its biotechnology expertise now includes capabilities in manufacturing DNA medicines, peptide pharmaceuticals and biologics.

The company says it also intends to focus on expanding key technologies and contract manufacturing services for early phase clinical trials and late phase full-scale manufacture of pharma products.

'The major thrust is to make sure we have what our customers need, including full-scale facilities,' Greensmith said.

David Killworth, vp of the new fine chemicals division, said the company thought it important to have technical skills in the US, and all three of the recent acquisitions have given access to products earlier in the development pipeline.