Fagron Expands Sterile Compounding Footprint in the United States with East Coast Acquisition
Regulated information
Nazareth (Belgium)/Rotterdam (Netherlands), July 5, 2022 – 7:00 a.m. CET
Fagron Expands Sterile Compounding Footprint in the United States with East Coast Acquisition
Fagron, the world leader in pharmaceutical compounding, has acquired a 503B outsourcing facility in Boston from Fresenius Kabi. The transaction covers all operational aspects of the facility, including customers, suppliers and approximately 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 achieving our strategic goal of becoming the leading global platform for sterile outsourcing services. Demand for outsourced preparations is increasing in the United States and aligned with increased regulatory oversight, there is a need to focus on quality. Although this acquisition is initially dilutive, we are confident that our team will be successful in aligning the facility with our US FSS operations in due course. This expansion will allow us to take our sterile compounding business in the United States to the next level and compete with the three main players in the American market.”
Andrew Pulido, President of Fagron North America commented: “We are very pleased to have the opportunity to add this best-in-class 503B outsourcing facility to our operations. By adding the capability of this facility to our current operations in Wichita, not only are we taking another important step in meeting the ever-increasing demand for sterile outsourcing services in the U.S. market, but we are also significantly strengthening our geographic proximity to existing and potential customers on the East Coast. This facility was built by Fresenius Kabi to initially serve the main academic medical center in the region through scale, cost effectiveness and production flexibility while maintaining very high quality standards. We expect the facility’s transition to Fagron processes to take approximately 12 to 18 months and expect it to begin making a positive contribution to results in the 2n/a half of 2023. We welcome employees of Fresenius Kabi Compounding in Boston to the Fagron team.”
John Ducker, President and CEO of Fresenius Kabi USA commented: “We are happy to have found a buyer like Fagron, with his experience in hospital preparation, to ensure the continuity of this activity for employees and customers. We are convinced that the excellent team in Boston, combined with the expertise of Fagron, will continue to be a partner of choice for hospitals. This divestiture is part of Fresenius Kabi’s strategy to focus on the growth of biopharmaceuticals, medical technologies, clinical nutrition and a wide range of injectable medicines used throughout the continuum of care.”
Fagron finances the acquisition from its own resources.
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Karen Berg
Global Head of Investor Relations
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About Fagron
Fagron is a leading global pharmaceutical compounding company focused on providing personalized medicines to hospitals, pharmacies, clinics and patients in 35 countries around the world.
The Belgian company Fagron NV has its registered office in Nazareth and is listed on Euronext Brussels and Euronext Amsterdam under the symbol “FAGR”. The operational activities of Fagron are managed by the Dutch company Fagron BV, headquartered in Rotterdam.
Important Information Regarding Forward-Looking Statements
Certain statements contained in this press release may be considered forward-looking. These forward-looking statements are based on current expectations and are affected by various risks and uncertainties. Accordingly, Fagron cannot provide any assurance 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 discrepancies between the English translation and the original Dutch of this press release, the latter prevails.
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Fagron Expands Sterile Compounding Footprint in the United States with East Coast Acquisition
