CordenPharma has entered into definite agreements to acquire the former Hospira Boulder (Colorado) high containment API site from Pfizer. The closing of the transaction is anticipated to occur in November 2017.
Located in proximity to the existing CordenPharma Colorado facility, Hospira Boulder produces Active Pharmaceutical Ingredients (APIs) and intermediate products with specialized capabilities in small to medium scale highly potent and cytotoxic API manufacturing. Previously owned by Pfizer/Hospira, the 54,000 square foot facility with more than 100 employees has API production capabilities ranging from very small scale up to 3,000 liters.
Integrated into the CordenPharma network, the combination of CordenPharma Colorado and Hospira Boulder’s pharmaceutical supply business represents a unique opportunity to further strengthen CordenPharma’s position as a CDMO supplier of Highly Potent & Oncology APIs to the pharmaceutical industry. CordenPharma will also enter into a multi-year supply arrangement with Pfizer, with the expectation that the agreement will help defray costs associated with running the site for the next few years while it adds new client work into the facility.
CordenPharma Colorado also completed the construction of a new API process bay in 2016, equipped to handle highly potent compounds up to OEB Level 4, to accommodate increasing customer demand in this segment.
Hospira Boulder, to be renamed “CordenPharma Boulder,” will be managed by Brian McCudden, the current CEO of CordenPharma Colorado who was responsible for Hospira Boulder during one of his previous assignments as an employee of Hospira.