CordenPharma announced its largest strategic investment to date, committing to spend ~€900m over the next three years to enhance its peptide technology platform.
The planned investment consists of two major expansion initiatives occurring in parallel in the US and Europe, including both existing facilities and new constructions. New facilities will be designed and built according to the pharmaceutical industry’s most stringent quality and technical standards for short and long-peptide manufacturing, including Biologics License Applications (BLA) requirements.
The US expansion, driven by increasing demand in the Diabetes and Obesity GLP-1 agonist medications market, involves constructing a new large-scale manufacturing facility at the Colorado site and increasing manufacturing trains in the existing facility, backed by multiyear contracts totaling ~€3bn. Concurrently, the European expansion focuses on building a new state-of-the-art greenfield facility in the heart of Europe, aiming to serve customers from early clinical to late-stage commercial manufacturing, fully integrated within CordenPharma’s existing network.
In 2022, Astorg acquired CordenPharma, aiming for ~€1bn sales from its Peptide Platform and ~€1.8bn total revenue by 2028. The new facilities, upon completion, will enhance its network of cGMP manufacturing facilities, ensuring supply chains with integrated services from APIs to Drug Products.
“These investments will profoundly strengthen our ability to provide valuable and much needed support to innovators for the benefit of patients,” commented Michael Quirmbach, President & CEO of the CordenPharma Group. “We are honored by the trust our customers have placed in us to deliver expert outsourcing for large multiyear contracts, and our team is proud to contribute decades of peptide manufacturing experience towards these transformative new medicines. In addition, the strong commitment and support of our shareholder Astorg demonstrates their strategic vision for CordenPharma to become the leading CDMO for complex modalities such as Peptides, by offering fully-integrated end-to-end services from APIs to Drug Products (for both Injectable and Oral Peptides).”
Source: chemanager-online.com
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