Hovione to buy Pfizer's Irish API facility
This article was originally published in Scrip
The Portuguese active pharmaceutical ingredient manufacturer Hovioneis to buyPfizer's Loughbeg API site in County Cork, Ireland, for an undisclosed sum. The deal should be completed by April 2009. Over the next two years Hovione Cork will validate processes for new compounds up for approval and will transfer products from its Loures site in Portugal. Between 70 and 80 employees will work at the plant, which will increase the company's manufacturing capacity by 427m3, up from 810m3. The new plant is equipped for low temperature chemistry and hydrogenation and also gives the company the capacity for producing spray-dried formulations. County Cork has the highest concentration of API production in the world, a good talent pool and a strong reputation for good manufacturing practices with health authorities, says the company. Hovione will continue to provide Pfizer with manufacturing services. IDA Ireland, the Industrial Development Agency, has welcomed the deal.