Financial terms of the transaction have not been disclosed.
The manufacturing site, which is approved for manufacturing of both small molecule and biologic products, is the first FDA-approved facility in the Nichi-Iko Group network. Sagent intends to continue manufacturing certain products for Xellia, while utilizing the site’s capabilities to enhance its ability to address unmet market needs.
“The acquisition of this facility is a significant milestone in our journey to transform Sagent,” said Dr. Peter Kaemmerer, Chief Executive Officer of Sagent. “In addition to complementing our historic partner-based supply model with internal manufacturing capabilities, the Raleigh site will enable production of lyophilized formulations of our future biosimilar product offerings. We look forward to welcoming the site employees into the Sagent team and contributing to the Nichi-Iko family together.”
Yuichi Tamura, President and CEO of Nichi-Iko said, “We applaud this acquisition as another big step forward for Nichi-Iko and Sagent, further strengthening our competitiveness and capabilities in the key U.S. market. The acquisition of this manufacturing facility, our first in the U.S., will have an important role as we strive to fulfil our mission of providing value-added, high quality generic products which meet the needs of patients and their families in the global market.”
Source: Company Press Release