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ICIG Acquires Sandoz Site in Germany
PTSM: Pharmaceutical Technology Sourcing and Management
ICIG’s CordenPharma Group expands fermentation-based production technology with acquisition of Sandoz Site.
International Chemical Investors Group (ICIG), owner of CordenPharma, announced on Feb. 24, 2016 that it will acquire all of the shares in Sandoz Industrial Products, a Frankfurt-Höchst, Germany based manufacturer of enzyme-based fermentation products and intermediates for the pharmaceutical industry, especially for the use in antibiotics.
Sandoz Industrial Products will maintain its operations associated with the CordenPharma Group. The business will be complementary to ICIG’s pharma activities through CordenPharma as well as to its fine chemicals business in the WeylChem Group.
The site represents an important building block for further expansion into fermentation-based production technology for ICIG, the company reports. With the acquisition of the Sandoz Höchst site, CordenPharma Group will become one of the major suppliers of 7-ACA to customers worldwide, the company reports. CordenPharma will also use the material for its own antibiotics value chain at its Latina site in Italy.
The transaction is expected to close on April 1, 2016.
Source: CordenPharma