Siegfried Group sells biologics division
The Siegfried Group, based in Zofingen in Switzerland, is selling its biotechnology business unit to an Indian company, Avesta Biotherapeutics and Research (ABRPL), for an undisclosed sum.
The Siegfried Group, based in Zofingen in Switzerland, is selling its biotechnology business unit to an Indian company, Avesta Biotherapeutics and Research (ABRPL), for an undisclosed sum.
ABRPL is a Bangalore-based joint venture between Avestha Gengraine Technologies and Meditab Specialities, part of the CIPLA group. ABRPL will manufacture a series of biopharmaceuticals primarily for the Indian market. In addition it will exploit opportunities in biological contract manufacturing worldwide. The approximately 50 Siegfried employees in Berlin-Kleinmachnow will be transferred to the new owners.
"The sale of our biotechnology division is a further step in the concentration process of the Siegfried Group," said Siegfried ceo Douglas C. Guenthardt: "We will focus on two core areas, namely the manufacture of active pharmaceutical ingredients for the worldwide life science industry and the development and manufacture of complex generics.
"In the future, we will apply all our resources to these business areas."
