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CordenPharma Delivers Strong 2019 Financial Results

March 30, 2020
Press Release > CordenPharma Delivers Strong 2019 Results with 24.2% Sales Increase

Press Release > CordenPharma Delivers Strong 2019 Results with 24.2% Sales Increase


 

CordenPharma is pleased to announce its 2019 year-end financial results, which demonstrated solid organic growth with net sales increase of €75 million (+24.2%) and total sales of €386 million. The company’s sales development in 2019 reflected very favorably across all CordenPharma sites due to a strong demand for new customer projects and commercial product launches.

In 2019 CordenPharma successfully completed a number of strategic CAPEX projects as part of its long-term investment strategy in key platform areas such as Highly Potent & Oncology, Injectables, and Peptides, Lipids & Carbohydrates. In particular, the new investments include the construction of a dedicated veterinary manufacturing facility in CordenPharma Plankstadt (DE), the completion of a flagship aseptic fill & finish plant in CordenPharma Caponago (IT), and in CordenPharma Colorado (US), the installation of a large-scale solid-phase peptide synthesizer (to meet the increasing market demand for large-scale peptide projects), along with additional investments in HPAPI development capacities.

Dr. Michael Quirmbach, President & CEO of CordenPharma, commented, “I am pleased with our performance in 2019, as it reflects our ongoing pursuit of operational excellence, collaborative partnership, customer centricity and service across the organization, spanning from all employees to our strong network of integrated facilities. Looking ahead, we remain confident in achieving our 2020 objective of further profitability improvement, with double-digit sales growth. I would like to conclude with my sincere thanks to our 1,700 employees for their commitment, hard work and achievements in 2019 to serve our customers and their patients.”

About CordenPharma

CordenPharma, the global pharmaceutical service & manufacturing platform of International Chemical Investors Group (ICIG), is a full-service partner in the Contract Development & Manufacturing (CDMO) of APIs, Drug Products, and associated Packaging Services. Through a growing network of cGMP facilities across Europe and the US organized under four Technology Platforms – Peptides, Lipids & Carbohydrates, Injectables, Highly Potent & Oncology, and Small Molecules – CordenPharma experts translate complex processes and projects at any stage of development into high-value products.

For Inquiries: cordenpharma.com/contact-us/

About International Chemical Investors Group

International Chemical Investors is a privately owned industrial group with sales in excess of EUR 2 billion and more than 5,200 employees worldwide. ICIG is focusing on three main platforms: Pharmaceuticals under the CordenPharma brand, Fine Chemicals under the WeylChem brand and Chlorovinyls under the Vynova brand. Since inception in 2004, ICIG has grown into operating 25 independent chemical and pharmaceutical businesses in Europe and the United States, all of which have origins in major global chemical or pharmaceutical corporations.

For more information about International Chemical Investors Group, visit ic-investors.com.

 

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