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WuXi STA to buy Swiss pharma manufacturing facility from Bristol Myers Squibb

Bristol Myers Squibb captis executive search management consulting leadership board services

WuXi STA, a subsidiary of Chinese pharmaceutical company WuXi AppTec, has agreed to buy the Couvet, Switzerland-based manufacturing facility from Bristol Myers Squibb.

Bristol Myers Squibb to sell Swiss pharmaceutical facility to Chinese player. (Credit: Bristol Myers Squibb/Business Wire.)

The Couvet site is a state-of-the-art manufacturing facility with commercial-scale capacity to produce capsule and tablet dosage forms.

For WuXi STA, the Couvet site will be its first facility in Europe. The acquisition is expected to enhance its existing capabilities, while adding capacity to support its partners as a contract development and manufacturing organisation.

Bristol Myers Squibb and WuXi STA expect to close the transaction by the second quarter of this year, subject to regulatory approvals and customary closing conditions.

After the deal’s closure, WuXi STA will control the Couvet site’s operations and assets including plant and equipment, along with the workforce which possesses technical capabilities and expertise.

Bristol Myers Squibb executive vice-president and 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.”

Until the closure, Bristol Myers Squibb will continue to operate the facility.

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-centered 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.”

Last November, Bristol Myers Squibb (BMS) completed the acquisition of MyoKardia, a clinical-stage biopharmaceutical company for $13.1bn.

Through the deal, BMS can now possess MyoKardia’s mavacamten, a potential first-in-class cardiovascular medicine to treat obstructive hypertrophic cardiomyopathy (HCM).

This is not a CAPTIS article. Originally, it was published here.