CordenPharma To Acquire Pfizer API Manufacturing Facility
CordenPharma, a contract development and manufacturing organization of drug substances and drug products, has agreed to acquire a manufacturing facility located in Boulder, Colorado from Hospira, a Pfizer company. The transaction is expected to close in November 2017.
Located in proximity to the existing CordenPharma Colorado facility, Hospira Boulder produces active pharmaceutical ingredients (APIs) and intermediate products with specialized capabilities in small- to medium-scale highly potent and cytotoxic API manufacturing. The 54,000-square-foot Boulder facility with more than 100 employees has API production capabilities ranging from small-scale up to 3,000 liters.
CordenPharma will also enter into a multi-year supply arrangement with Pfizer, with the expectation that the agreement will help defray costs associated with running the Boulder site for the next few years while it adds new client work into the facility.
Hospira Boulder, to be renamed “CordenPharma Boulder,” will be managed by Brian McCudden, the current chief executive officer of CordenPharma Colorado, who was responsible for Hospira Boulder during one of his previous assignments as an employee of Hospira.
The existing CordenPharma Colorado completed the construction of a new API process bay in 2016, equipped to handle highly potent compounds up to an Occupational Exposure Band Level 4.