PolyPeptide names new CEO before likely Swiss IPO during 2021
ZURICH (Reuters) - Privately held drug industry contract manufacturer PolyPeptide Group named a new chief executive on Tuesday ahead of a likely initial public offering (IPO) in Switzerland later this year. Raymond De Vre, a Belgian who previously worked at Indian contract manufacturer Dr. Reddy's Laboratories as global head of biologics, will join PolyPeptide Group as CEO-elect in April
ZURICH (Reuters) - Privately held drug industry contract manufacturer PolyPeptide Group named a new chief executive on Tuesday ahead of a likely initial public offering (IPO) in Switzerland later this year.
Raymond De Vre, a Belgian who previously worked at Indian contract manufacturer Dr. Reddy's Laboratories as global head of biologics, will join PolyPeptide Group as CEO-elect in April.
CEO Jane Salik is stepping down during the summer but will stay on the board, the Swedish-headquartered company said.
"De Vre is a respected leader in the life sciences community, bringing skills and expertise which will make significant contributions to our continued long-term growth," PolyPeptide said in a statement.
PolyPeptide, a quarter-century-old firm which bought Lonza's peptides business in 2017, is advancing preparations for a 2021 Zurich stock market listing, sources have told Reuters.
The company makes peptides, tiny proteins used among others in cancer drugs, antibiotics, vaccines or anti-wrinkle agents, at plants in Europe, the United States and India.
PolyPeptide's customers include Novavax Inc, for which it is making ingredients for its COVID-19 vaccine candidate.
PolyPeptide did not immediately respond to a request for comment.
(Reporting by John Miller)
This story has not been edited by Firstpost staff and is generated by auto-feed.
By Robin Emmott and John Irish | BRUSSELS/PARIS BRUSSELS/PARIS France and Germany will agree to a U.S. plan for NATO to take a bigger role in the fight against Islamic militants at a meeting with President Donald Trump on Thursday, but insist the move is purely symbolic, four senior European diplomats said.The decision to allow the North Atlantic Treaty Organization to join the coalition against Islamic State in Syria and Iraq follows weeks of pressure on the two allies, who are wary of NATO confronting Russia in Syria and of alienating Arab countries who see NATO as pushing a pro-Western agenda."NATO as an institution will join the coalition," said one senior diplomat involved in the discussions. "The question is whether this just a symbolic gesture to the United States
BEIJING Chinese President Xi Jinping on Wednesday called for greater efforts to make the country's navy a world class one, strong in operations on, below and above the surface, as it steps up its ability to project power far from its shores.China's navy has taken an increasingly prominent role in recent months, with a rising star admiral taking command, its first aircraft carrier sailing around self-ruled Taiwan and a new aircraft carrier launched last month.With President Donald Trump promising a US shipbuilding spree and unnerving Beijing with his unpredictable approach on hot button issues including Taiwan and the South and East China Seas, China is pushing to narrow the gap with the U.S. Navy.Inspecting navy headquarters, Xi said the navy should "aim for the top ranks in the world", the Defence Ministry said in a statement about his visit."Building a strong and modern navy is an important mark of a top ranking global military," the ministry paraphrased Xi as saying.