Latest News

PepsiCo names a President but CEO staying put for “foreseeable future”

July 21, 2017

PepsiCo on Tuesday said it had named a president, filling a long vacant second-in-command job, as the food and beverage giant added an executive to the ranks of CEO Indra Nooyi’s potential successors. The maker of Pepsi, Gatorade and Quaker Oats said in a press..

Pharma’s U.S. reputation is bad—and Trump may be to blame: survey

July 21, 2017

The pharma industry’s reputation among patient groups in the U.S. has sunk to a recent low, and some are pointing to the country’s leader as the reason. Only 29% of groups recently surveyed by research firm PatientView believe pharma has an “excellent” or “good” corporate..

AB Inbev to buy soft drinks firm Hiball

July 21, 2017

The world’s largest brewer Anheuser Busch InBev said on Thursday it was acquiring Hiball, a San Francisco-based producer of energy drinks and owner of the Alta Palla brand of organic sparkling juices and sparkling waters. The acquisition marks another step into the non-alcoholic drinks sector..

France opens in-depth field-to-fork food review

July 21, 2017

Prime Minister Edouard Philippe launched a wide review of France’s food sector on Thursday, calling participants to help the state find solutions to improve farmers’ ailing incomes, food quality and the environment. The consultation, part of a campaign pledge of President Emmanuel Macron, is due..

Grupo Bimbo agrees to buy US baker East Balt for $650m

July 21, 2017

Grupo Bimbo has acquired US foodservice company East Balt Bakeries for $650 million in a bid to expand its global reach. Founded in 1955 and headquartered in Chicago, East Balt was bought by One Equity Partners in 2012. It employs around 2,200 people and operates..

PPG to acquire US coating services firm

July 21, 2017

PPG Industries has agreed to acquire The Crown Group (Warren, Michigan), a maker of component and product finishers in North America. Terms of the transaction, which is expected close during the third quarter, have not been disclosed. Crown has sales of $125–$150 million/year, according to..

Campbell Soup to withdraw from food industry group by year-end

July 20, 2017

Campbell Soup Co. Chief Executive Denise Morrison said Wednesday during the company’s investor event that the company will withdraw from the Grocery Manufacturer’s Association (GMA), a major food association, by the end of the calendar year. The decision, according to Morrison, is “not financial,” but..

Hampton Creek’s board quits en masse

July 20, 2017

Josh Tetrick, the co-founder and CEO of controversial food startup Hampton Creek, is now the sole member of its board. At least four directors have left the board in June over apparent “deep discord” with Tetrick, Bloomberg reported. The publication noted “at least five directors”..

Sanofi offers Ablynx billions of biobucks for nanobody partnership

July 20, 2017

Belgian biotech Ablynx just signed a potentially lucrative new deal with Sanofi that could be worth an eye-watering €2.4 billion, although just €23 million of that comes up front. The new deal is a fillip for Ablynx after AbbVie declined to take up rights to..

Reuters: U.S. Cardinal Health puts $1.5 billion China business on block

July 20, 2017

U.S. drug distributor Cardinal Health has put its China business up for sale, drawing keen interest from state-backed Chinese pharmaceutical firms in a deal that may be worth up to $1.5 billion, sources familiar with the matter said. Shanghai Pharmaceutical Holding Co Ltd, China Resources..