News & Press
CordenPharma, a leading Contract Development & Manufacturing Organization (CDMO), has entered into definite agreements to acquire the former Hospira Boulder (Colorado) high containment API site from Pfizer, Inc. The closing of the transaction is anticipated to occur in November 2017.
Integrated into the CordenPharma network, the combination of CordenPharma Colorado and Hospira Boulder’s pharmaceutical supply business represents a unique opportunity to further strengthen CordenPharma’s leading position as a premier CDMO supplier of Highly Potent & Oncology APIs to the pharmaceutical industry. CordenPharma will also enter into a multi-year supply arrangement with Pfizer, with the expectation that the agreement will help defray costs associated with running the site for the next few years while it adds new client work into the facility.
CordenPharma represents the global pharmaceutical manufacturing & service platform of International Chemical Investors Group (ICIG). “The acquisition will augment CordenPharma’s Highly Potent & Oncology platform and integrated supply service offering in association with its drug product manufacturing expertise in the area of solid dosage and sterile injectables in CordenPharma Plankstadt (DE) and CordenPharma Latina (IT) respectively”, says Dr. Achim Riemann, Managing Director of ICIG.
“This acquisition represents a further key milestone in CordenPharma’s targeted acquisition strategy implemented over the last several years”, adds Patrick Schnitzer, Managing Director of ICIG. As part of this strategy, CordenPharma continuously acquired API and Drug Product manufacturing capabilities over the last decade, including peptide and small molecules API plants as well as highly potent Drug Product sites in Italy, Germany and Belgium.
In addition, CordenPharma Colorado completed the construction of a new API process bay in 2016, equipped to handle highly potent compounds up to OEB Level 4, to accommodate increasing customer demand in this segment. “With this new acquisition, CordenPharma is uniquely positioned to provide pharma customers with the most comprehensive Highly Potent & Oncology service in the industry, spanning the entire API and Drug Product supply chain at any stage from development to commercialization.” says Dr. Michael Quirmbach, Vice President, Global Marketing & Sales, CordenPharma International.
Hospira Boulder, to be renamed “CordenPharma Boulder,” will be managed by Brian McCudden, the current CEO of CordenPharma Colorado who was responsible for Hospira Boulder during one of his previous assignments as an employee of Hospira.