News & Press
by Andrew Warmington, Editor of Speciality Chemicals Magazine
Contribution by Dr. Michael Quirmbach, Chief Executive Officer & President, CordenPharma
Speciality Chemicals Magazine – December 2019 / January 2020 Issue
New CEO Dr Michael Quirmbach said that CordenPharma has avoided the problems that have plagued some other CDMOs with similar business models based on acquiring ex-Big Pharma sites. “Five years ago, we had an 80% legacy business. Today it is only 30%. This year, we have had organic growth of 20% in sales and we expect at least 15% next year.”
This reflects the strong pipeline but also strong demand in key areas. The company has just completed a facility at Plankstadt, Germany, for an animal health blockbuster. Another major investment has led to 60 new people being taken on there. There is also good demand for sterile injectable fill & finish for peptides, antibodies, oligonucleotides and others based on brand new technology recently invested at Caponago, Italy.
Future investment plans include highly potent solid dosage forms at Plankstadt, continuous manufacturing at Chenôve, France, and large-scale solid phase peptide synthesis capacity in Colorado, as well as HPAPI development capabilities. The company will look to further expand its network, acquiring new sites that fit with its needs in technology terms.