Sector News

France’s Delpharm in talks to buy 5 Famar sites for $274M

October 7, 2019
Life sciences

Get involved in the discussion! Click here to comment on this story

French CDMO Delpharm, which already has a dozen sites across Europe, is planning a big expansion with a deal to pick up five more, including one in North America, along with 1,300 employees in a deal worth more than $250 million.

Delpharm said in an emailed release today that it is in exclusive negotiations with Greece-based Famar to buy French sites in Orléans (Loiret), Aigle (Orne) and St-Rémy-sur-Avre (Eure-et-Loire), along with Famar’s site in Bladel in the Netherlands and its Pointe-Claire site in Quebec, Canada.

The deal, which covers nearly half of the financially-struggling Famar’s network of 11 sites, represents an investment of €250 million ($274 million), Delpharm said. The CDMO’s expect to close the deal in November.

“The Board of Directors has agreed that the offer proposed by Delpharm is in the best interest of the five sites and their employees,” Delpharm President Patrick Puy, said in a statement. “The completion of this transaction will allow these sites to enter into a new phase of sustainable and promising development.”

Athens-based Famar had been aggressively building its network several years ago. In 2016 it acquired an FDA-approved site in Leganes, Spain, from Roche. The following year, Delpharm also bought a site from Roche, this one in Segrate, Italy.

But Famar’s parent, the Marinopoulos Group, ran into financial problems several years ago. At the end of last year, Reuters reported that Famar completed a €174 million debt restructuring and got an infusion of cash from private equity-backed Pillarstone.

By Eric Palmer

Source: Fierce Pharma

Join the discussion!

Your email address will not be published. Required fields are marked *

Related News

November 14, 2019

UnitedHealth adds new C-suite member from Lockheed Martin

Life sciences

LinkedIn Twitter FacebookUnitedHealth Group Inc. has hired Patricia Lewis as its new chief human resources officer. She’ll serve in the office of the chief executive, the company said in an email. […]

November 13, 2019

Novartis’ Sandoz to acquire Aspen Japan for $331m

Life sciences

LinkedIn Twitter FacebookNovartis subsidiary Sandoz has signed an agreement to buy Aspen Japan operations and related intellectual property from Aspen Global for an upfront payment of €300m ($331m) in cash. […]

November 12, 2019

Amgen to cut 149 staff in retreat from neuroscience R&D

Life sciences

LinkedIn Twitter FacebookAmgen has given notice of its intent to lay off 149 people at its Cambridge, Massachusetts, operation by the end of the year. The notice comes weeks after […]

Subscribe to our Weekly Newsletter

We're easy to reach