Investment firm adds Roche facility to growing portfolio
pharmafile | August 9, 2011 | News story | Manufacturing and Production |Â Â Colarado, International Chemical Investors, Roche, pharma manufacturing newsÂ
International Chemical Investors Group has snapped up another manufacturing facility, this time agreeing to buy a plant owned by Roche in the USA.
The company says it has entered into an agreement to acquire Roche Colorado Corp, which includes the production facility in Boulder. The deal covers approximately 265 employees and includes technical development and manufacturing capabilities. Financial terms were not disclosed.
ICIG is a holding company for Corden Pharma, and has been steadily buying up chemical and pharmaceutical plants since it was set up in 2004. Its strategy is to take over mid-sized assets which are considered non-core by their owners and can be acquired at “attractive” prices.
The company says it plans to operate the Boulder site as Corden Pharma, and will continue to supply Roche with APIs that the Boulder site currently produces for an interim period.
Roche’s Boulder facility specialises in the production of therapeutic peptides, other complex small molecules and highly potent APIs. Corden Pharma president Dr. Wolfgang Niedermaier said the acquisition will give the firm “a commanding presence in the contract peptide manufacturing industry”.
Earlier this year, ICIG bought Genzyme’s pharmaceutical intermediates business, including a development and manufacturing unit in Liestal, Switzerland. Prior to that it acquired plants formerly operated by Bristol-Myers Squibb, AstraZeneca, Mitsubishi (Miteni) and Albemarle.
The acquisition strategy has turned Corden Pharma into a full-service contract development and manufacturing company, with activities spanning advanced pharmaceutical intermediates, APIs and drug product formulations and plants in Italy, France, Germany, Ireland and Switzerland.
All told, the acquired business – factoring in Roche’s Boulder unit – are thought to have turnover approaching €1 billion a year.
Phil Taylor
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