WuXi STA will acquire the operations and assets of Couvet site, including the plant and equipment, along with its workforce
WuXi STA, a subsidiary of WuXi AppTec, has reached an agreement with Bristol Myers Squibb to acquire the latter’s manufacturing facility in Couvet, Switzerland.
Under the terms of the agreement, WuXi STA will acquire the operations and assets at Couvet site, including the plant and equipment, along with its technically capable and expert workforce.
WuXi STA is a Contract Development and Manufacturing Organisation (CDMO), serving the life sciences industry with flexible and high-quality solutions for integrated chemical, manufacturing, and control (CMC).
With the acquisition, the Couvet site will become WuXi STA’s first manufacturing facility in Europe.
The acquisition is expected to enhance the company’s existing capabilities to support its partners’ work.
Bristol Myers Squibb global product development and supply president Lou Schmukler said: “The Couvet site is a world-class facility designed for quality, safety, and efficiency, and we believe WuXi STA will be able to leverage the capacity and capabilities for its own operations as it continues to play a vital role for patients around the world.
“This is an important step in the ongoing evolution of our manufacturing network to support our product portfolio. Switzerland remains an important strategic location for Bristol Myers Squibb, and we look forward to maintaining a strong presence in the Neuchâtel area.”
The Couvet site is an advanced manufacturing facility, located in the canton of Neuchâtel, Switzerland, with commercial-scale production capacity for capsule and tablet dosage forms.
The capsule and tablet manufacturing facility was designed with energy efficiency and environmental standards and to accommodate future growth.
The transaction is anticipated to be closed by the second quarter of 2021, subject to regulatory approvals and the satisfaction of other closing conditions.
Bristol Myers Squibb said that the Couvet facility would to continue its operations under its manufacturing network until the acquisition is completed.
William Blair and Company is serving as exclusive financial advisor to Bristol Myers Squibb for the transaction, while Covington & Burling as legal counsel.
WuXi STA CEO Minzhang Chen said: “We are pleased to add the Couvet manufacturing facility to our growing global manufacturing site network and look forward to working with the talented team who share our focus on excellence and a patient-centred approach.
“The acquisition will allow WuXi STA to better serve European markets and support our global customers to deliver innovative medicines and treatments to patients around the world.”