CordenPharma has signed a multi-year agreement for the contract manufacture of a large-volume launch peptide at its former Roche facility in Boulder, Colorado. This will begin in 2023 and will potentially be worth about $1 billion, depending on actual production levels required. The customer has not been named and no further details are being disclosed.
According to the German business newspaper Handelsblatt, the International Chemical Investors Group (ICIG) intends to sell CordenPharma. A valuation of around €3 billion has been cited. ICIG has, the paper said, has already had meetings with potential buyers and will send out information packs to them by the end January. Neither ICIG nor CordenPharma has made any comment.
CordenPharma has announced the approval of a long-term expansion initiative “to further increase our flexibility, efficiency and ultimately, cost-effective production” at its solid-phase peptide synthesis (SPPS) in Boulder, Colorado. This follows the installation of an extra-large 3,000L SPPS vessel at the site earlier this year in response to growing demand for peptide APIs.