ICIG acquires Sandoz site in Frankfurt-Hochst

ICIG acquires Sandoz site in Frankfurt-Hochst

11:30 AM, 25th February 2016
ICIG acquires Sandoz site in Frankfurt-Hochst

FRANKFURT, GERMANY: International Chemical Investors Group (ICIG) said that it has entered into an agreement with Novartis Group to acquire all the shares in Sandoz Industrial Products GmbH (pharmaceuticals division of Novartis), a Frankfurt-Hochst based manufacturer of enzyme-based fermentation products and intermediates for the pharmaceutical industry, especially for the use in antibiotics. Closing of the transaction is anticipated to occur in April 2016.

Sandoz will maintain its operations associated with the CordenPharma Group, the pharma platform of ICIG. The business will be complementary to both ICIG’s pharma activities as well as to its fine chemicals activities within the WeylChem Group (part of ICIG). The site represents an important building block for further expansion into fermentation-based production technology for ICIG.

With the acquisition of the Sandoz Hochst site, CordenPharma Group will become one of the major suppliers of 7-ACA to customers worldwide. CordenPharma will also use the material in-house for its own antibiotics value chain at its Latina site in Italy.

“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,” said Dr Achim Riemann, managing director, ICIG.

“With the newly acquired plant at the Hochst site, ICIG further increases its footprint in the Frankfurt Rhine-Main area. We are focused on the continuation and further development of the business, as we have successfully demonstrated in many other transactions,” said Patrick Schnitzer, managing director, ICIG.

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