Ethanolamines (EOA) compounds are used in the pharmaceutical industry for the production of a wide range of active pharmaceutical ingredients (APIs) and excipients, as well as being an important chemical in a number of other industries.
But with immediate effect, European drugmakers will now have to pay an extra €100 for each metric ton of monoethanolamine (MEOA), diethanolamine (DEOA) and triethanolamine (TEOA), the firm said today.
Company spokeswoman Dandan Wang told in-Pharmatechnologist.com the “reason for the price increase is the consecutive increase of raw material prices,” but would not disclose what percentage the extra €100 per mt represents.
She did, however, dismiss the price hike is related to a deadly explosion at its Ludwigshafen, Germany site earlier this month which led to the firm halting production at 20 manufacturing plants across the site.
As well as Ludwigshafen, BASF manufactures ethanolamines at its sites in Antwerp, Belgium, and Nanjing, China.
The price increase will apply to current supply agreements as soon as, and to the extent permitted by, the terms and conditions of the customer contracts.