Sanofi-aventis to purchase Pfizer's insulin plant in Frankfurt
Sanofi-aventis has bought the Diabel plant in Frankfurt-Hoechst, Germany from Pfizer for Euro 30m.
Sanofi-aventis has bought the Diabel plant in Frankfurt-Hoechst, Germany from Pfizer for Euro 30m.
The French drugmaker is exercising its right of first refusal option on the sale of the plant regarding a purchase contract signed between Pfizer and US-based Mannkind in March 2009. The plant formerly produced inhaled insulin product Exubera, co-developed by Pfizer and sanofi-aventis.
Sanofi-aventis said the facility would produce Lantus SoloStar (insulin glargine) diabetes treatment, which saw sales rise by nearly 28% to US$2.45bn last year.
"The strong increase in demand for our insulins, and especially Lantus, drives us to extend considerably our production capacities. In combining the acquired Diabel site with our existing plants, sanofi-aventis will operate the largest insulin capacity in the world in Frankfurt," said Martin Siewert, general manager of sanofi-aventis in Germany.
The acquisition fits with sanofi-aventis' aim of doubling Lantus sales by 2012. In April, the firm said it would invest US$90m over the next three years to boost manufacturing capacity of Lantus in China.