Private equity firm Atorg has agreed to acquire CDMO CordenPharma from International Chemical Investors Group (ICIG), subject to customary regulatory approvals. The founders, Patrick Schnitzer and Dr Achim Riemann, will also reinvest in the firm and CEO Michael Quirmbach remains in place.
CDMO CordenPharma has acquired the finished drug product manufacturing business of Vifor Pharma Group, which is refocusing its manufacturing on nephrology and iron deficiency. This comprises sites at Fribourg and Ettingen in Switzerland, and Lisbon, Portugal. Terms were not disclosed. The deal is expected to close in Q1 2022.
CDMO CordenPharma is planning to invest heavily in all its platforms in terms of both capacities and capabilities, according to Dr Stephen Houldsworth, global head of platform management and marketing, who spoke with SCM at CPhI Worldwide in Milan.