The latest news, announcements and press releases from Siegfried.
Siegfried (SIX: SFZN), a leading global Contract Development and Manufacturing Organization (CDMO) for the pharmaceutical industry, has signed binding agreements with an affiliate of SK Capital Partners to acquire the drug substance business of the Noramco Group and Extractas Bioscience. The acquired businesses include three high-quality small molecules drug substances sites with approximately 400 employees.
Siegfried (SIX: SFZN) has signed binding agreements with Novartis regarding the acquisition of two pharmaceutical manufacturing sites in Spain. With this acquisition, Siegfried will significantly enhance its global production network in terms of capacity and technological capabilities and will achieve the targeted critical size in the field of drug products (finished dosage forms), thus creating further potential for profitable growth in the highly attractive CDMO market. Subject to customary closing conditions, the transaction is expected to close at the end of 2020.
Dr. Wolfgang Wienand, Chief Executive Officer of Siegfried: "This acquisition is perfectly in line with our corporate strategy EVOLVE and represents another major step towards our vision to create one of the most competitive integrated global networks in the CDMO industry. The two new manufacturing sites are ideal complements to our current activities in the field of drug products. They will help us to achieve the necessary critical size in our drug product network and enable us to apply our successful network strategy not only in the field of drug substances but also for drug products. Thanks to the significant additional capacity and the enhanced technological capabilities, we will become an even more attractive strategic partner for the pharmaceutical industry and create further potential for profitable growth. Now, my team and I look forward to our close cooperation with Novartis."
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