NUTRICOSMETICS MARKET ANALYSIS

Market News

Recent Development:

On December 2022, IFF, food and beverage, health and Wellness Company, announced it has entered into an agreement to sell its Savory Solutions Group to PAI Partners, a leading global private equity firm with a strong focus on the food and consumer industry. The transaction values the business at approximately $900 million and cash proceeds net of taxes and expenses will be primarily used to reduce outstanding debt.

On October 2022, IFF announced the opening of its new Singapore Innovation Center, the first in its global network of research, creative and application centers to integrate the technologies, capabilities and expertise of all four business divisions: Nourish, Health & Biosciences, Scent and Pharma Solutions. At nearly 11,000 square meters, it is IFF’s largest in the region.

On December 2022, Sanofi and Innate Pharma SA announced an expansion of their collaboration, with Sanofi licensing a natural killer (NK) cell engager program targeting B7H3 from Innate’s ANKETTM (Antibody-based NK Cell Engager Therapeutics) platform. Sanofi will also have the option to add up to two additional ANKETTM targets.

On 6 February 2023, Croda International Plc ('Croda') announces that it has agreed to acquire Solus Biotech ('Solus'), a global leader in premium, biotechnology-derived beauty actives, from Solus Advanced Materials for a total consideration of KRW350bn (approximately £232m) on a debt-free, cash-free basis. The acquisition provides access to Solus’ existing biotech-derived ceramide and phospholipid technologies, and its emerging capabilities in natural retinol. This acquisition will significantly strengthen Croda’s Beauty Actives portfolio and increases its exposure to targeted prestige segments. Located in South Korea, Solus expands Croda’s Asian manufacturing capability and will create a new biotechnology R&D hub in the region.