Nicotine is so toxic that it’s been used as a pesticide, and less than a teaspoon can kill a person. With the advent of electronic cigarettes, that potency is creating an opportunity for pharmaceutical companies that can assure the purity and quality of the drug.
Thomas O’Malley made two fortunes buying U.S. oil refineries at rock-bottom prices and selling when the economy rebounded. On the third try, in Europe, the 70- year-old ex-Salomon Brothers Inc. oil trader got it wrong.
Clariant AG, which acquired catalyst- maker Sued-Chemie for $2.7 billion last year, said its full-year goals remain achievable, even while unprofitable textile- and paper-chemical businesses are still part of the company.
Clariant AG agreed to sell three businesses to SK Capital Partners for 502 million Swiss francs ($550 million) as the chemical maker divests assets a year before its own deadline to concentrate on more profitable units.