Private Equity Firm Astorg To Acquire CordenPharma
Astorg, a European private equity firm, has agreed to acquire the CDMO, CordenPharma, from International Chemical Investors Group (ICIG), an investment company with holdings in fine chemicals and chemicals.
CordenPharma, a CDMO of active pharmaceutical ingredients and drug products, employs more than 2,600 people in 11 manufacturing facilities and one R&D laboratory located across Europe and the US. The company has more than 250 pharma and biotech customers across five technology platforms: peptides; lipids & carbohydrates, including lipids for mRNA vaccines and therapeutics; highly potent & oncology; injectables; and small molecules.
As part of the transaction, ICIG will reinvest as partners with Astorg in the CDMO. In addition to CordenPharma, ICIG has two other holdings in fine chemicals and chemicals: WeylChem, a fine chemicals company, and Vynova, a European producer of polyvinyl chloride and chlor-alkali.
Following a review of its portfolio, ICIG said it concluded that CordenPharma in its next growth phase would be best developed further with a partner, and that ICIG would focus more on its chemicals portfolio.
The transaction is subject to customary regulatory approvals.