International Flavors & Fragrances Inc. - IFF STOCK NEWS

IFF Pharma Solutions will showcase breakthrough research at AAPS 2024 PharmSci 360 in Salt Lake City, Utah, from Oct. 20-23. The company will demonstrate the critical role of excipients in drug formulation through scientific posters and presentations. Key advancements include:

- Nitrosamine risk mitigation
- Controlled-release performance
- Extrusion spheronization processibility and pellet quality
- Softgel stability
- Formulation of plant-based pharmaceutical gummies

IFF experts will present research on topics such as immediate-release solutions, controlled release matrix tablet formulations, and analytical methods for detecting nitrites in pharmaceutical excipients. The company aims to empower pharmaceutical manufacturers to develop safer, more effective formulations.

IFF Pharma Solutions is showcasing its 75-year legacy as an excipient manufacturer at CPHI 2024 in Milan, October 8-10. The company is unveiling new product launches and technologies, including:

1. Low nitrite excipient solutions for nitrosamine risk mitigation, such as Avicel® PH Low Nitrite (LN) and METHOCEL™ products.

2. Ultrapure alginate technologies for biotechnology, including NOVAMATRIX-3D™ and PRONOVA® UP CAM.

3. New foil bag-in-box packaging for POLYOX™ water-soluble resins, extending stability and supporting sustainability initiatives.

These innovations aim to address critical industry challenges and support pharmaceutical and biotech advancements.

IFF (NYSE: IFF), a leader in food, beverage, health, biosciences, and scent industries, has announced that CEO Erik Fyrwald will participate in a fireside chat at the Barclays Global Consumer Staples Conference on Thursday, Sept. 5, 2024, at 1:30 p.m. ET. Investors can access the live webcast on IFF's website at ir.iff.com, with a recorded version available for replay later.

IFF combines science and creativity to develop essential solutions for a better world, partnering with customers to create products that consumers crave. The company is committed to doing more good for people and the planet through its innovative approach to scents, tastes, experiences, ingredients, and solutions.

IFF reported second quarter 2024 results with sales of $2.9B and adjusted operating EBITDA of $588M. The company saw a 7% increase in comparable currency neutral sales led by growth in Scent, Health & Biosciences, and Nourish segments. Adjusted EPS excluding amortization was $1.16 per diluted share. IFF is raising its full-year 2024 guidance, now expecting sales between $11.1B to $11.3B and adjusted operating EBITDA of $2.1B to $2.17B. The company projects volume growth of 3% to 5% across most of its portfolio. CEO Erik Fyrwald expressed satisfaction with the company's performance, citing improvements in volume growth and productivity initiatives.

IFF, a global leader in food, beverage, and personal care products, has announced plans to complete the renovation and expansion of its Shanghai Creative Center by August 2024. This 16,000 square-meter facility, IFF's largest in Asia, is designed to drive innovation across the company's portfolio in China and the Greater Asia market. The center will feature state-of-the-art labs, a culinary demo kitchen, and a digital space for immersive olfactory experiences.

CEO Erik Fyrwald emphasized that this investment follows the opening of their Singapore Innovation Center in 2022, reaffirming IFF's commitment to innovation in Asia. With China being a important market for flavors and fragrances, and the region's growing demand for bioscience-based products, the Shanghai Creative Center positions IFF to capture a greater share of the Asian market and support customers' brand growth strategies.

IFF (NYSE: IFF), a leader in food, beverage, scent, health, and biosciences, has announced a regular quarterly cash dividend of $0.40 per share of its common stock. This dividend is payable on October 9, 2024 to shareholders of record as of September 20, 2024. IFF is an international collective of thinkers partnering with customers to create essential solutions for a better world, combining science and creativity to develop innovative products. The company focuses on doing more good for people and the planet through its diverse portfolio of scents, tastes, experiences, ingredients, and solutions.

IFF (NYSE:IFF) will release its second quarter 2024 earnings results on August 6, 2024, after the market closes.

A live webcast to discuss the results and future outlook will be hosted by the management team on August 7, 2024, at 9:00 a.m. ET.

Investors can access the live webcast and slide presentation via the company's website, with a recorded version available for replay.

IFF specializes in creating solutions for the food, beverage, health, biosciences, and scent industries, blending science and creativity.

For further information, media and investor relations contacts are provided.

IFF has received EU-wide regulatory approval for two new feed solutions for poultry: Axtra® XAP and Syncra® AVI. These products, developed by Danisco Animal Nutrition & Health, aim to improve poultry performance and reduce feed costs.

Axtra® XAP is a blend of xylanase, amylase, and protease enzymes, which enhances nutrient absorption and allows for flexible dietary formulations. Syncra® AVI combines enzymes and probiotics to optimize gut health and overall productivity. These solutions are also available in North America, South Africa, and Asia Pacific.

IFF (NYSE: IFF) has appointed Margarita Paláu-Hernández to its Board of Directors, effective June 3, 2024. This appointment aligns with IFF's cooperation agreement with Icahn Capital LP. The Board will now consist of 11 members, 10 of whom are independent. Roger Ferguson, lead director of IFF, emphasized Paláu-Hernández's legal expertise and consumer insights as critical assets for IFF's growth and transformation plan. Carl Icahn, CEO of Icahn Capital, also expressed confidence in Paláu-Hernández's ability to contribute to IFF's strategic advancements and shareholder value.