Suanfarma to acquire an API Manufacturing Facility in Italy
SUANFARMA Group, a leading company in the development, production and distribution of active pharmaceutical ingredients for human and animal health use, today announced it has entered into a binding contractual commitment for the intended purchase of Sandoz Industrial Products S.p.A, an API manufacturing facility in Rovereto, Italy, as part of a continuing expansion of its global footprint.
Héctor Ara, President of SUANFARMA Group commented, “By acquiring this manufacturing site in Rovereto, Italy, SUANFARMA will have the opportunity to accelerate growth by adding new industrial/production capacity and to manufacture high-quality new products for the market. It comes with an excellent manufacturing facility and a dedicated team of experts that will support us in expanding our pharma business.”
This recent acquisition is a new step ahead on SUANFARMA’s strategy to increase its industrial capacity in Europe, on which giving support to the company’s global distribution network. Our R&D department develops 2-3 products per year, and it is our intention to transfer at least 1 new development per year to the Rovereto site. With this new acquisition SUANFARMA expects to reach 300 MM€ turnover by 2020.
The Rovereto site, which as part of the Novartis Group supplies products to global operations is an established and reputable API manufacturing facility in Italy and provides a number of lifesaving medicines to the healthcare system and patients around the world. As part of the agreement, the parties have committed to sign a long-term supply contract to guarantee continuous supply of products manufactured at Rovereto to the Novartis Group.
No impact on jobs is currently planned and SUANFARMA intends to invest in the site and pursue business development opportunities to optimize the plant’s utilization and expand its customer base.
“We look forward to a seamless transition for employees, patients, customers, partners and other stakeholders,” added Héctor Ara. “We are impressed by the know-how at the Rovereto site and intend to leverage their expertise to develop new opportunities in the pharmaceutical market, in Italy and globally.”
The acquisition of the Rovereto API manufacturing facility is expected to be completed at the end of 2019, following a transition process and is subject to customary approval process of the competent authorities. With this acquisition SUANFARMA adds a key asset to its industrial division, together with CIPAN in Portugal and IDIFARMA in Spain.