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Sandoz Products to be Bought By ICIG from Novartis

Sandoz Products to be Bought By ICIG from Novartis

26th February :Sandoz, a Frankfurt -Hochst , German based company’s  industrial Products  will be  purchased by the international Chemical Investors’s group (ICIG) from the Novartis Group April onwards. The purchase price remaining  undisclosed.

The Purchase deal is supposed to close in April this year.

The new Plant will broaden the  CordenPharma’s operations, growing its enzymes-based manufacturing portfolio and dedicated antibiotics technology platform.

According to a website Sandoz was intending sale of its site based in Germany’s Höchst Industrial Park and in line with the plan had stopped  manufacturing intermediates for 7-ACA antibiotics for external customers.

Now with the new deal in site the new plant will expand CordenPharma’s operations, growing its enzymes-based manufacturing portfolio and dedicated antibiotics technology platform. Corden Pharma is a pharma unit of ICIG. Sandoz will continue its operations with  Corden Pharma.

The ICIG’s  unit has benefited from this deal immensely for besides being able to supply  7-ACA antibiotics across the globe, it will also use it in-house for the company’s own antibiotics value chain, at the Latina site in Italy.

The ICIG on the other hand will also benefit as it would be able to broaden its fermentation based Production  technology platform.

ICIG Managing Director Achim Riemann said: “The new site will expand CordenPharma’s operations, growing its enzymes-based manufacturing portfolio and dedicated antibiotics technology platform and will add state-of-the-art capabilities in microbial fermentation and enzymatic reactions to WeylChem’s extensive non-GMP production capabilities as well.”

The  ICIG aims to enhance its fine chemicals and custom manufacturing unit, WeylChem Group with this acquisition.

 

Source: With inputs
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