ICIG completes acquisition of Sandoz site
The previously announced agreement between ICIG’s pharma platform, CordenPharma, and the Frankfurt-Höchst-based manufacturer of enzyme-based fermentation products and intermediates was established in February of this year.
The new site will expand the CordenPharma’s operations, specifically growing its enzymes-based manufacturing portfolio and antibiotics technology platform, adding new capabilities in microbial fermentation and enzymatic reactions.
As Outsourcing-Pharma.com reported, the acquisition will establish CordenPharma as one of the major suppliers of 7-ACA to customers worldwide. Additionally, the company will use the material in-house for its anitbiotics value chain located in Latina, Itay.
Sandoz will maintain its operations associated with the CordenPharma Group, ICIG’s pharma platform, and will be re-named Corden BioChem GmbH.
“Corden BioChem will be complementary to both ICIG’s pharma activities as well as to its fine chemicals activities within the WeylChem Group,” the company commented in its announcement. “The site represents an important additional building block of fermentation-based production technology for ICIG.”
Achim Riemann, ICIG Owner, told us that CordenBiochem has become part of the company's antibiotics platform within CordenPharma and "will be managed as a profit center like all other companies of the group using the services and Support functions of the group." He added, "CordenPharma has the ambition to grow further and plans add on acquisitions in API and drug product manufacturing."
