FMC spends $345M for Epax omega-3 plants

U.S.-based FMC will pay about $345 million to buy two premium-grade omega-3 plants from Trygg Pharma. The company said it is buying the Epax division and will get plants in Alesund, Norway, and Seal Sands, U.K., in the deal. FMC will also have a long-term contract with Trygg to provide it with high-concentration omega-3 fish oil for use as an active pharmaceutical ingredient. Omega-3 has become a hot market in recent years with several drugs and lots of nutraceuticals based on the heart-healthy oil. There have been a number of acquisitions in the category. In January, chemical behemoth BASF ($BASF) closed on its €684 million ($910 million) acquisition of Pronova BioPharma in Norway. Pronova made the active ingredient for GlaxoSmithKline's ($GSK) blockbuster omega-3 drug, Lovaza. BASF picked up manufacturing facilities in Norway and Denmark. Release | More