Patheon, Roche Announces Agreement
News Dec 02, 2016
Patheon N.V. has announced that it has signed a definitive agreement to acquire a active pharmaceutical ingredients (API) manufacturing facility in Florence, South Carolina, from Roche Holdings, Inc., an indirect, wholly owned subsidiary of Roche Holding Ltd., which it will integrate into the Patheon network.
Under the terms of the purchase agreement, Patheon will acquire the site for an immaterial sum, plus the cost of associated inventory and spare parts. Patheon has also entered into a multi-year supply arrangement with Roche. Patheon expects the supply agreement to help defray the costs associated with running the site for the next few years while it adds new client work into the facility. Over time, Patheon expects the Florence facility to have a similar financial profile to its other sites in its drug substance segment.
Patheon will acquire a 1,100 acre, 300,000 square-foot facility with manufacturing capacity for API ranging from development to manufacturing services. With the addition of this site, the company expands its capacity for manufacturing highly potent compounds, and adds capabilities to support solid-state chemistry, micronization, and eventually, commercial spray drying.
“As the only end-to-end provider of pharma development and manufacturing services, Patheon is uniquely positioned to integrate this new site into our global network and quickly leverage the capabilities with existing and new clients,” said James Mullen, CEO of Patheon. “The company will benefit from the additional North American API capacity and adds a facility with approximately 200 scientific and manufacturing professionals.”
The site features reactors ranging from 50-11,000 liters producing multiple products simultaneously, fully compliant with all applicable regulations, such as cGMP (current Good Manufacturing Practices) safety and environmental standards. It will provide Patheon with a major U.S. API operation capable of supporting products from clinical scale to commercial manufacturing and further enhances Patheon’s scientific and technical expertise.
The statements in this press release that are not historical facts may be forward-looking statements. Such forward looking statements, based upon the current beliefs and expectations of Patheon's management, are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. Accordingly, readers should not place undue reliance on forward-looking statements as a prediction of actual results.
Source: Story from Patheon. Please note: The content above may have been edited to ensure it is in keeping with Technology Networks' style and length guidelines.
Concept Life Sciences appoints New Group Programme Manager and US Head of SalesNews
Key leadership appointments support integration of the Group and expansion in the US market.READ MORE
Alzheimer’s Drug Discovery Foundation Announces $1.8M in New FundingNews
The Alzheimer’s Drug Discovery Foundation (ADDF) announces nearly $1.8 million in new funding, which reflects a commitment to advancing drugs in or near human clinical trials. All five funded programs are potential treatments for Alzheimer’s disease and other forms of dementia.READ MORE
New Research Hub to Tackle Global Vaccination ChallengesNews
The University of Bristol will contribute to a new research hub to increase global immunisation coverage and improve response to viral outbreaks through the rapid and cost-effective deployment of vaccines.READ MORE