Galen buys Pfizer manufacturing plant in Puerto Rico
Warner Chilcott Company, a wholly-owned subsidiary of Galen Holdings, has agreed to purchase a manufacturing facility located in Fajardo, Puerto Rico from Pfizer Inc. for a cash consideration.
Warner Chilcott Company, a wholly-owned subsidiary of Galen Holdings, has agreed to purchase a manufacturing facility located in Fajardo, Puerto Rico from Pfizer Inc. for a cash consideration.
The 270,000ft2 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.
'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,' said Galen ceo Roger Boissonneault. 'Hormone-containing products such as contraceptives require specialised, dedicated facilities, and it is rare to have the opportunity to acquire a facility of this quality along with an exceedingly qualified work force. 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.'