WuXi Biologics And Bayer Enter Into Acquisition Agreement
WuXi Biologics, a leading global open-access biologics technology platform company offering end-to-end solutions for biologics discovery, development and manufacturing, and Bayer jointly announced an acquisition agreement that WuXi Biologics Germany GmbH will take over the operations of one of Bayer's final drug product manufacturing plants in Leverkusen, Germany, and purchase the associated equipment, in combination with a long-term lease contract for the building.
Based on a manufacturing agreement to be negotiated, the plant would be operated by WuXi Biologics and serve as a back-up site for the final product manufacturing of Kovaltry™, an antihemophilic factor (recombinant). The transaction is expected to be concluded in the coming months subject to the satisfaction of customary closing conditions. Financial details were not disclosed.
"We are excited to sign this acquisition agreement with Bayer, allowing us to have quick access to high quality drug product manufacturing capacities and capabilities," said Dr. Chris Chen, CEO of WuXi Biologics. "Our business in EU, US and China market has experienced robust growth in the past few years. This additional drug product plant further confirms our commitment to 'Global Dual Sourcing within WuXi Biologics' strategy. WuXi Biologics will continue to expand our worldwide capacity, providing global partners with a robust and premier-quality supply chain network to benefit patients worldwide