Celgene Corporation has acquired active pharmaceutical ingredient (API) manufacturing facility from Siegfried Ltd., a manufacturer of high-quality pharmaceutical products located in Zofingen, Switzerland.
Celgene is purchasing the assets for approximately a total of $46.5 million in cash, with an initial payment of $12.5 million. The manufacturing facility has the capability to produce multiple drug substances and initially will be used to produce Revlimid to supply global markets. The facility also may be used to produce drug substance for future Celgene drugs and drug candidates. This acquisition further expands the company's global commercial manufacturing capabilities and furthers the goal of Celgene to maintain its strategic control of production worldwide, a Celegene press release stated.
The API manufacturing plant acquired from Siegfried has been approved by United States and European regulatory authorities to produce and supply drug substance for both of these major markets. Siegfried, with 130 years of pharmaceutical and chemical manufacturing experience, also will continue to collaborate with Celgene to provide chemical intermediates, quality control systems, analytical testing and certain other technical support services.
"This asset acquisition further extends our global infrastructure and supports our objective to strategically control the production of Revlimid worldwide," said Robert J. Hugin, president and chief operating officer at Celgene Corporation.
Celgene Corporation, headquartered in Summit, New Jersey, is an integrated global pharmaceutical company engaged primarily in the discovery, development and commercialization of innovative therapies for the treatment of cancer and inflammatory diseases through gene and protein regulation.