DuPont Doubling Down on Biotech

Wilmington's DuPont Co. doubled down on biotechnology last week, completing its $6.4 billion bid for Danish enzymes firm Danisco and beginning the process of combining the two companies.
With the Danisco purchase, DuPont moves yet further away from its storied history in explosives and commodity chemicals and further into what may be considered a third era for the 209-year-old Delaware company -- this one defined by biotechnology.
DuPont is already a force in agricultural biotech through its ownership of Pioneer Hi-Bred International, a $5.3 billion Iowa firm that sells genetically altered soybean seeds. DuPont purchased Pioneer for $7.7 billion in 1999, in its last major acquisition.
Architects of the Danisco deal say the addition of the Copenhagen-based company makes DuPont a major player in industrial biotechnology and will bolster efforts to produce materials from renewable sources like corn starch and soy. Danisco, which makes food ingredients and additives, also markedly strengthens DuPont's food business. Its addition will create a standalone $3 billion nutrition and health segment.
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