Baxter’s biopharma solutions business, which provides contract manufacturing and other support services for pharmaceutical companies, reported $644 million in revenue last year. It’s expected to generate roughly $600 million in revenue in 2023, the companies said in a statement.
Under Advent and Warburg’s ownership, it will operate as an independent contract development and manufacturing organization. The two private equity firms will acquire biopharma solutions’ manufacturing facilities, and roughly 1,700 employees in Indiana and Germany.
Advent Managing Partner John Maldonado said in a statement that the partnership can “unlock multiple opportunities for growth and help the business realize its full potential,” by serving large customers, including Baxter, with specialized, end-to-end capabilities as a standalone company.
CEO José Almeida said in an April earnings call that Baxter had seen “significant interest” in the biopharma solutions unit. READ MORE
by Elise Reuter
Source: biopharmadive.com
CordenPharma announced its largest strategic investment to date, committing to spend ~€900m over the next three years to enhance its peptide technology platform. The planned investment consists of two major expansion initiatives occurring in parallel in the US and Europe, including both existing facilities and new constructions.
DSM-Firmenich has announced the sale of its MEG-3 fish oil business to KD Pharma Group, a contract development and manufacturing organisation that is active in pharmaceutical and nutritional lipids. As part of the transaction, DSM-Firmenich will obtain a minority stake of 29% in KD Pharma’s parent company O³ Holding GmbH.
Veranova, a development and manufacturing of specialist and complex APIs for the pharmaceutica l and biotech sectors, recently announced the appointment of Cécile Maupas as Senior Vice President, Chief Commercial Officer. Cécile will join the executive team and assume responsibility for business development, marketing, project management, commercial operations, and product management.
