After a year of big investments, Recipharm sells assets in Europe – Endpoints News
Recipharm organizes a garage sale to start the new year.
The company announced a pair of deals on Monday, as Swedish biotech sold its production site in Fontaine-lès-Dijon, France, to a new Astrea Pharma CDMO. It also sold Aesica Pharmaceuticals and the UK active pharmaceutical ingredient manufacturing site to Pharmaron.
The sale will help streamline Recipharm’s operations and improve its financial position as it seeks to position itself among the top five CDMOs, CEO Marc Funk said in statements.
“We see this as a positive step in streamlining our operations and solidifying our position as one of the top five global contract development and manufacturing organizations,” he said of the deal with Astrea. “I am pleased that this business is getting a committed owner with the ability and capability to grow it to its full potential. We will continue to grow and invest in our very successful contract manufacturing business. »
Astrea Pharma is expanding its manufacturing network and offerings. The company is planning further acquisitions down the line. The Cramlington site in Newcastle, UK has a commercial capacity of 1,076 square feet, approved by the MHRA and FDA, among other regulatory bodies. This is Astrea’s first investment, as the CDMO provider has just been established by a team of well-established industry veterans.
Meanwhile, Pharmaron is in a similar boat and is looking to bolster its already existing API manufacturing operations in Hoddesdon as it tries to offer full end-to-end services in the UK. This sale will allow the company to offer its customers more customizable options.
Recipharm is rapidly expanding its manufacturing to areas of the world that need it. In July 2021, the company announced the construction of a new fill-finish facility in Uttarakhand, India, near Dehradun, as part of a partnership with the Sobti family that began in 2019.
It is also building a fill-finish plant in Morocco, largely thanks to a $500 million investment from the government over the next five years. This site will focus on manufacturing vaccines for Africa, which has lagged significantly behind in international immunization efforts. It will be designed to reflect the location of Monts, France, and is expected to be operational by 2023.
Sanofi sold from its UK respiratory drugs manufacturing site to Recipharm in June in a $60 million deal. Recipharm took over all of the 450 factory employees.
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