n e w s of t h e w e e k
""pif
Russia; and Technology Commercialization International in Albuquerque. 82 Sr decays into rubidiunv82, which is used in positron emission tomography for heart imaging. 82Rb has a half-life of a minute and a half, so it cannot be shipped before it disappears. Therefore, Bristol-Myers Squibb makes a 82Rb "generator" from 82 Sr; it is distributed to hospitals by Bracco Diagnostics, New Brunswick, N.J. 82 Sr is produced by three facilities in North America—at Triumf National Meson Research Facility in Vancouver, B.C.; the Department of Energy's Brookhaven National Laboratory in Brookhaven, N.Y.; and Los Alamos. But by coincidence, all three production facilities are shut down for maintenance from January to June of this year. "That posed a critical problem, because we need the material in order to support manufacturing," says Kenneth M. Sos-
nowski, manager of purchasing for BristolMyers Squibb. Enter the Russians, who last year had already begun sending 82Sr to the U.S. to help expand the market for 82Rb generators. Now their services have become vital. With the approval of the Food & Drug Administration, they are shipping irradiated metal "targets" from which 82 Sr can be extracted at Los Alamos. "It kept us in production and kept an important diagnostic tool available," Sosnowski says. Los Alamos scientists are hailing the effort as an example of a successful nonproliferation project. "It's very important to Russia, it helps Squibb and Bracco, and [it benefits] the clinics and patients—to us, it's been a full-circle, multiple-benefit project," says Dennis R. Phillips, project leader at Los Alamos. Elizabeth Wilson
Akzo Nobel weighing Courtaulds acquisition
mentioned by Akzo is too low to secure the deal and probably will have to be raised to gain Courtaulds' assent. Other possibilities include a hostile bid opposed by Courtaulds' management and the entrance of other bidders into the fray. The entry of other bidders for Courtaulds, however, is seen as unlikely. Lots of other coatings companies might be delighted to add Courtaulds' business to their operations, but in a European fiber industry dogged by poor market conditions and financial losses, not even Courtaulds' star viscose fiber Tencel is enough to entice other companies to take on its entire fibers business. Patricia Layman
Dutch chemicals producer Akzo Nobel is talking with British specialties maker Courtaulds about a possible takeover. The lure: Courtaulds' strong position in coatings, which would boost Akzo Nobel's already large coatings business. Earlier this year, Courtaulds declared its intention to split itself up by spinning off its coatings and sealants businesses and selling its polymer products lines. Its shares, which had been trading at about 250 pence (about $4.20) per share, have since risen to more than 400 pence. However, a week and a half ago, Courtaulds said it had been approached by a possible buyer, which sent its shares zooming up to about 460 pence. Last week, in a brief statement, Akzo Nobel identified itself as that possible buyer, noting it was in talks that "may or may not lead to a cash offer" for Courtaulds. If such an offer were made, the statement said, it would be at 450 pence per share, or about $3 billion. Courtaulds had fiscal 1997 sales of $35 billion, nearly half of which were in coatings and sealants. If the deal goes through, Akzo Nobel would not only expand its coatings business, it would also merge the two companies' fibers businesses and then, the company said, "investigate the most appropriate means of spinning off the combined fibers business, including demerger. " Financial analysts predict that the price 14 APRIL 13, 1998 C&EN
Fox moving to NC State At press time, C&EN learned that Marye Anne Fox has been selected as the 12th chancellor of North Carolina State University, Raleigh. Fox, 50, is the first woman to hold the top post at the university, which has a heavy emphasis on science and technology. In announcing the appointment, University of North Carolina President Molly Corbett Broad said: "Marye Anne Fox is an internationally renowned scientist who brings to NC State academic experience of exceptional depth and breadth." Currently vice president for research and Virgil Waggoner Regents Chair in Chemistry at the University of Texas, Austin, Fox will officially take up her new position on Aug. 1.
Big tobacco leaves national settlement A week after the Senate Commerce, Science & Transportation Committee approved a massive tobacco bill aimed at reducing teen smoking, U.S. tobacco companies bowed out of a 1997 agreement that was, in part, codified by the Senate bill (see page 39). The $368.5 billion agreement was negotiated among tobacco companies, public health advocates, and 40 state attorneys general. Leading the industry pullout was Steven F. Goldstone, chief executive officer of RJR Nabisco, the parent company of RJ Reynolds Tobacco, the financially weakest of the tobacco firms. Speaking at the National Press Club in Washington, D.C., last week, Goldstone said: "The extraordinary settlement, reached on June 20th last year . . . is dead." He laid most of the blame on the White House doorstep. President Bill Clinton is disappointed by the tobacco companies' action. But, Clinton says, "they ought to rethink their position because we're going to get this done one way or the other." Goldstone also declared the Senate bill moribund: "There is no process which is even remotely likely to lead to an acceptable comprehensive solution this year." He defined acceptable as "clear and fair rules for the future." The $516 billion Senate bill, which gives little legal protection to the industry, failed by a long shot to meet his criteria, he implied. Tobacco companies' withdrawal from the national tobacco policy debate is not expected to halt congressional action. Sen. John McCain (R-Ariz.), Commerce, Science & Transportation Committee chairman and chief architect of the Senate bill, says Congress will not be "blackmailed or forced into taking any measure" short of its goal of stopping youth smoking. Even if Congress fails to pass a comprehensive bill, it has "other legislative vehicles" it could use, McCain says. It "could give the Food & Drug Administration the legal ability to severely [but not totally] restrict industry advertising," or enact "other simple tax increases," he explained. Rep. Thomas J. Bliley Jr. (R-Va.), the powerful chairman of the House Commerce Committee, calls the industry pullout regrettable, but says the House will craft its own bill. Lois Ember
