Patheon offloads clinical packaging ops
pharmafile | September 11, 2012 | News story | Manufacturing and Production |Â Â Bellwyck, Ontario, PatheonÂ
Patheon has sold its global secondary clinical packaging and clinical distribution services business to Bellwyck Packaging Solutions as it continues its wide-ranging restructuring exercise.
The Canadian contract development and manufacturing services company has been progressively selling off and shuttering non-core activities as part of a bid to streamline its business.
“This transaction is part of our continued focus on our core competencies of solid-dose and parenteral development and manufacturing,” said Patheon’s chief executive James Mullen in a statement.
The clinical packaging operations are centred on a facility in Burlington, Ontario, with satellite operations in Cincinnati in the US, and around 20 staff are expected to transition to Bellwyck once the deal closes. Terms of the sale have not been disclosed.
Bellwyck is a privately-held company with 20 years’ experience in providing clinical trial and contract services for secondary packaging, according to Patheon.
“We look forward to an ongoing partnership with Patheon as we work together to ensure that Bellwyck continues to provide superior clinical packaging and distribution services to Patheon’s current and future customers”, commented Bellwyk’s co-chief executive Jeff Sziklai.
Last year, the Canadian outsourcing specialist announced its intention to close facilities and exit certain businesses, singling out its semi-solid production and clinical packaging operations for the chop.
Among the measures already taken are the closure of its sterile products manufacturing unit in Swindon, UK, the shutdown of another production unit in Puerto Rico and transfer of operations between sites in Canada and Switzerland.
The company’s latest set of financial results suggest that the restructuring is starting to have an impact, with a near-19% hike in underlying business driving gross profits up nearly 12% to $34m, although charges associated with the restructuring meant it posted an operating loss.
Phil Taylor
Related Content
US prescription drugs most expensive in world, analysis shows
Brand name prescription drugs cost on average 4.3 times more in the United States than …
Illegally manufactured fentanyl drives deaths in Ontario
Illicit forms of the powerful opioid fentanyl have been driving increased rates of opioid-related deaths …
Patheon acquires state-of-the-art manufacturing facility from Roche
Patheon, a provider of drug development and delivery to the pharmaceutical and biopharma sectors, announced …
