Galen Holdings Plc announced that Warner Chilcott Company, Inc., its wholly-owned subsidiary, has agreed to purchase a manufacturing facility located in Fajardo, Puerto Rico from Pfizer Inc for a cash consideration. The approximately 270,000 square foot facility currently manufactures a range of products, including certain products that Galen purchased from Pfizer in 2003.
Under the terms of a transitional supply agreement, Galen will continue to manufacture products on behalf of Pfizer until such time as they are transferred to other facilities. Galen also intends to transfer to the plant a number of products currently being manufactured by third parties on its behalf as well as new products that are currently under development.
Commenting on the news, Galen CEO Roger Boissonneault said, "This is an excellent strategic move for the company as it will reduce our reliance on third parties for the manufacture of existing products, and accelerate our ability to develop, scale-up and validate new products. Fajardo will now become our primary site for oral dose products while we will continue to manufacture vaginal ring products in our facility in Larne, Northern Ireland."
Galen is a specialty pharmaceutical company focused on two core therapeutic areas: women's healthcare and dermatology. Since the acquisition of Warner Chilcott PLC in September 2000, through the implementation of our business strategy, we have successfully transformed the business into a specialty pharmaceutical company principally focused on the women's healthcare and dermatology markets in the United States.