
Teva sells Canadian plant to CMO
pharmafile | March 30, 2012 | News story | Manufacturing and Production |Â Â CMO, Halo Pharmaceutical, Teva, manufacturingÂ
Teva has said it plans to sell a manufacturing facility in Quebec, Canada, to US contract manufacturing organisation Halo Pharmaceutical.
The deal is expected to close at the end of June and – if it goes through – will see 150 Teva staff at the Mirabel plant transfer to the CMO.
The Mirabel plant has been on the block since last July, when Teva announced it planned to divest the facility it acquired as part of its takeover of Ratiopharm in 2010, or shut it down entirely this month. At the time there was reported to be 340 people working there.
For Halo, the deal marks a significant expansion of its manufacturing capacity, which is currently carried out at its production and packaging facility in Whippany, New Jersey, which handles a range of solid, liquid and sterile ointment dosage forms, including controlled substances. That facility was bought from Abbott in 2009.
The new plant will allow the CMO to expand its operations outside the US market, while also broadening its capabilities in non-sterile creams and ointments and large-volume liquid pharmaceuticals. It will double its workforce as well as production and development capacity, according to the CMO.
“With the acquisition of this state-of-the art facility, Halo’s market reach will expand to Europe in addition to the US and Canadian markets”, said Mohd Asif, Halo’s chief financial officer. The company set up a dedicated subsidiary in Canada in 2009.
“Furthermore, Halo will be able to offer new distribution capabilities to its customers as well as unique R&D services,” he added.
Terms of the acquisition have not been disclosed.
Phil Taylor
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