Fagron expands its US sterile compounding footprint with East coast acquisition
Regulated information
Nazareth (Belgium)/Rotterdam (The Netherlands), 5 July 2022 – 7AM CET
Fagron expands its US sterile compounding footprint with East coast acquisition
Fagron, the leading global player in pharmaceutical compounding, has acquired from Fresenius Kabi a 503B outsourcing facility in Boston. The transaction covers all operational aspects of the facility, including customers, suppliers, and around 80 employees, as well as a supply agreement with Fresenius Kabi.
Rafael Padilla, CEO of Fagron commented: “This acquisition is an important step for us in realizing our strategic objective of becoming the leading global platform for sterile outsourcing services. The demand for outsourced compounding is increasing in the US and aligned to increased regulatory scrutiny necessitates a high focus on quality. Whilst this acquisition will initially be dilutive, we are confident our team will successfully bring the facility in line with our FSS US operations in due course. This expansion will allow us to elevate our US sterile compounding business to the next level and compete with the top-3 players in the US market.”
Andrew Pulido, president Fagron North America commented: “We are very happy with the opportunity to add this best-in-class 503B outsourcing facility to our operations. By adding the capacity of this facility to our current operations in Wichita, we not only make another important step towards meeting the continuously growing demand for sterile outsourcing services in the US market, but also significantly strengthen our geographic proximity towards existing and potential customers on the East Coast. This facility was built by Fresenius Kabi to initially serve the leading academic medical center in the area through scale, cost efficiencies and provide flexibility around production while maintaining very high-quality standards. We expect the transition of the facility towards Fagron processes will take approximately 12 to 18 months and expect it to start making a positive contribution to results in the 2nd semester of 2023. We welcome the Fresenius Kabi Compounding employees in Boston to the Fagron team.”
John Ducker, president and CEO Fresenius Kabi USA commented: “We are pleased to have found a buyer like Fagron, with its experience in hospital compounding, to assure continuity of this business for employees and customers. We are confident that the excellent team in Boston, combined with Fagron’s expertise, will continue to be a compounding partner of choice for hospitals. This divestiture is part of a strategy at Fresenius Kabi to focus on growth in biopharmaceuticals, medical technologies, clinical nutrition, and a broad range of injectable medicines used across the continuum of care.”
Fagron finances the acquisition from its own resources.
Further information
Karen Berg
Global Investor Relations Manager
Tel. +31 6 53 44 91 99
karen.berg@fagron.com
About Fagron
Fagron is a leading global company active in pharmaceutical compounding, focusing on delivering personalized medicine to hospitals, pharmacies, clinics and patients in 35 countries around the world.
Belgian company Fagron NV has its registered office in Nazareth and is listed on Euronext Brussels and Euronext Amsterdam under the ticker symbol ‘FAGR’. Fagron’s operational activities are managed by the Dutch company Fagron BV, which is headquartered in Rotterdam.
Important information regarding forward-looking statements
Certain statements in this press release may be deemed to be forward-looking. Such forward-looking statements are based on current expectations and are influenced by various risks and uncertainties. Consequently, Fagron cannot provide any guarantee that such forward-looking statements will, in fact, materialize and cannot accept any obligation to update or revise any forward-looking statement as a result of new information, future events or for any other reason.
In the event of differences between the English translation and the Dutch original of this press release, the latter prevails.
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Fagron expands its US sterile compounding footprint with East coast acquisition
