Roche has a deal to sell an API plant in South Carolina to CDMO Patheon for a nominal amount, a deal that will save about 200 jobs at the plant in Florence which the Swiss drugmaker was preparing to close.
Durham, NC-based Patheon said it has a definitive agreement to buy the 1,100-acre, 300,000-square-foot facility for what it said is an “immaterial sum, plus the cost of associated inventory and spare parts.”
It also has a multiyear year deal to supply Roche with APIs that will help cover the costs of the facility until the contractor can get new business into it. Patheon said the facility will expand its capacity for manufacturing highly potent compounds, while adding micronization capabilities and commercial spray drying.
“The company will benefit from the additional North American API capacity and adds a state-of-the-art facility with approximately 200 scientific and manufacturing professionals,” Patheon CEO James Mullen said in a statement.
In an emailed statement, Roche spokeswomen Anja von Treskow said Tuesday the deal with Patheon, which is already a supplier to Roche, is expected to close within 60 days.
Roche said last year it would close the Florence plant, along with plants in Clarecastle, Ireland; Leganes, Spain, and Segrate, Italy, as part of a cost-saving plan that would remove about 1,200 jobs from its payroll. It took a charge of about $1.6 billion for the closures.
While its decision was firm, the Swiss drugmaker said it was trying to sell the plants to save jobs. In June, Greek contract manufacturer Famar said it had struck a deal to take the Leganes, Spain, plant and to supply Roche with APIs.
“In regards to the other sites, we can confirm that we are continuing with our efforts to divest Leganés and Segrate as operational sites to a reputable company, while Clarecastle is in the process of ramping down with production estimated to end in 2019. At this point in time we cannot comment further,” Roche said in its statement.
By Eric Palmer
Source: Fierce Pharma
Sun Pharmaceutical Industries has signed a definitive agreement to buy all outstanding shares of Concert Pharmaceuticals in a deal valued at $576m. Under the deal, the company will buy all shares of Concert common stock through a tender offer for $8.00 per share in cash upfront payment.
The Food and Drug Administration on Thursday approved Novo Nordisk’s diabetes pill Rybelsus as an initial treatment to lower blood sugar levels, a label expansion that will allow it to compete more directly with other oral drugs from Merck & Co. and Eli Lilly.
Since making an ill-advised $63 billion buy of Monsanto in 2018, Bayer has faced heaps of pressure from investors that have called for the company to oust its leadership and to restructure. Now comes new pressure from a familiar source. Bluebell Capital Partners has bought an undisclosed stake in the company and is agitating for a breakup, sources told Reuters.