Latest news for Croda International (OTC:COIHF) Stock

Croda International

Croda is a British specialty chemicals company with 60% of sales outside Europe. Croda operates through three segments: consumer care, life sciences, and industrial specialties. Consumer care produces specialty and active ingredients for cosmetics and skincare/haircare and also flavors and fragrances. The life sciences business manufactures products for healthcare and agrochemicals. The company sold the majority of its industrial businesses to Cargill in 2022, retaining only a subsegment of the business (housed under the industrial specialties segment) that supports the other two segments and sells their byproducts.

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International Flavors Mulling Sale Of Lucas Meyer Cosmetics For $1B: Report

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Benzinga Before The Bell: Roe vs Wade Ruling Effect, Airbnb&#39;s Ban on Parties, JetBlue&#39;s Modified Proposal And Other Top Financial Stories Tuesday, June 28

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US Government Offers $75M Support For Lipid Systems Expansion Used In mRNA COVID-19 Vaccines

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<ul> 
	<li>International Flavors &amp; Fragrances, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IFF#NYSE">IFF</a>) plans to sell its flavors, fragrances&nbsp;and cosmetic unit Lucas Meyer Cosmetics for about $1 billion.&nbsp;</li>
	 
	<li>The business could attract interest from rivals like U.K. specialty chemicals group&nbsp;Croda International Plc&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/COIHF#OTC">COIHF</a>),&nbsp;Givaudan S.A.&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/GVDBF#OTC">GVDBF</a>) of Switzerland, and Germany&#39;s&nbsp;Symrise Ag&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/SYIEF#OTC">SYIEF</a>),&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2023-05-19/iff-weighs-sale-of-1-billion-lucas-meyer-cosmetics-unit?sref=TBDibEcD#xj4y7vzkg" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Bloomberg&nbsp;</a>reported, citing people familiar with the matter.</li>
	 
	<li>The report mentioned&nbsp;the company is working with an adviser to explore options for Lucas Meyer Cosmetics.</li>
	 
	<li>Lucas Meyer Cosmetics manufactures ingredients for the cosmetics and personal care industry.</li>
	 
	<li>In the recently-reported&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/23/05/b32273409/iff-reports-first-quarter-2023-results" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">first quarter of FY23</a>, CEO Frank Clyburn said, &quot;We remain steadfast in our focus to control what we can control as we solidify profitability, maximize cash flow and drive portfolio optimization to generate strong returns for our shareholders.&quot; In the quarter, the company&#39;s earnings came in line with the street view of $0.87 per share.&nbsp;</li>
	 
	<li>Price Action:&nbsp;IFF shares are trading higher by 0.24% to $84.36&nbsp;Friday at publication.&nbsp;&nbsp;</li>
</ul>

Read Next:&nbsp;<a href="https://www.benzinga.com/general/biotech/23/05/32486768/if-you-invested-1-000-in-this-energy-drink-stock-when-covid-19-lockdowns-started-youd-now-have-ov">If You Invested $1,000 In This Energy Drink Stock When COVID-19 Lockdowns Started, You&#39;d Now Have Over $41,000 &mdash; And It May Be Time To Sell</a> 
Photo: Unsplash

Benzinga Before The Bell: Roe vs Wade Ruling Effect, Airbnb's Ban on Parties, JetBlue's Modified Proposal And Other Top Financial Stories Tuesday, June 28

<ul>
	<li>The&nbsp;<a class="editor-rtfLink" href="https://otp.investis.com/clients/uk/croda_international_plc/rns/regulatory-story.aspx?cid=1044&amp;newsid=1599406" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">U.S. government will provide up to $75 million</a>&nbsp;to expand U.K.-listed&nbsp;Croda International Plc&#39;s&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/COIHF#OTC">COIHF</a>) U.S. manufacturing capacity of ingredients for lipid systems used in novel therapeutic drugs, such as mRNA vaccines.</li>
	<li>Croda will also invest up to $58 million.</li>
	<li>The investment will be used to establish a new lipid facility in Lamar, Pennsylvania. Construction is expected to start later this year, with the new capacity anticipated in 2025.&nbsp;</li>
	<li>The investment supports the expansion of Croda&#39;s portfolio, by creating a third manufacturing site for lipid systems, alongside Croda&#39;s existing Alabaster, Alabama, U.S. (Avanti) and Leek, U.K. capabilities.</li>
	<li>&nbsp;The cooperative agreement is a joint award from the Biomedical Advanced Research and Development Authority (BARDA), and an arm of the U.S. Department of defense will join forces for preparedness for future health emergencies.</li>
	<li><a class="editor-rtfLink" href="https://www.ft.com/content/2a6e1725-ebdc-4066-a450-7df8812c46ce" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Financial Times writes</a>&nbsp;that&nbsp;Pfizer Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) /&nbsp;BioNTech SE&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNTX#NASDAQ">BNTX</a>) and&nbsp;Moderna Inc&#39;s&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) COVID-19 vaccines were the first approved jabs to be made with mRNA technology.&nbsp;</li>
	<li>The vaccines rely on bubbles of fat known as lipid nanoparticles to deliver genetic codes that teach the immune system to recognize the virus.</li>
	<li>Lipid systems offer significant potential as the delivery system for many nucleic acid applications, including novel mRNA-based therapeutics, such as flu vaccines and cancer treatments.&nbsp;</li>
	<li>Given the current clinical development pipeline&#39;s scale, the lipid systems market is expected to grow significantly over the next ten years.</li>
	<li>Image by Spencer Davis from Pixabay</li>
</ul>

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