Zhejiang Jiuzhou Pharmaceutical has entered into a contractual commitment for the purchase of Suzhou Novartis Pharmaceutical Technology (SNPT), an API manufacturing facility in Changshu Economic Technology Development Zone, Suzhou, China.
"By acquiring this manufacturing site in Suzhou, Jiuzhou Pharmaceutical can accelerate growth by adding new CDMO projects and develop new products for the market,” Madam Lirong Hua, Chairman of the Board of Jiuzhou Pharmaceutical, said. “It comes with an excellent manufacturing facility and a dedicated team of experts that will support us in delivering high-quality pharmaceuticals meeting or exceeding customer expectations and regulatory requirements."
The SNPT site, is an established and reputable API manufacturing facility and provides a number of medicines to patients around the world. As part of the agreement, the parties have committed to sign a long-term supply contract to guarantee continuous supply of products manufactured at SNPT. No impact on jobs is planned and Jiuzhou Pharmaceutical will invest in the site and pursue business development opportunities to optimize the utilization and expand the customer base.
"We look forward to a seamless transition for employees, patients, customers, partners and other stakeholders," said Madam Hua. "We are impressed by the know-how at the SNPT plant and intend to leverage their expertise to develop new opportunities in the pharmaceutical market, in China and globally."
The acquisition of the SNPT API manufacturing facility is subject to customary approval process of the competent authorities and will be completed by the end of 2019.