Hovione to acquire Pfizer’s Loughbeg API facility

Hovione Cork will employ 70-80 staff and will, over the next 24 months, be transferring products from its Loures, Portugal site and validating processes for new compounds in expectation of drug approval. The terms of the transaction were not disclosed but Hovione will continue to provide manufacturing services for Pfizer.

Miguel Calado, CFO of Hovione, said: “This site offers everything that our customers might want: large scale capacity, the highest standards, in a location where tax benefits are available to them and a well-trained, innovative workforce. The plant adds 427 cubic meters of capacity to Hovione’s 810 cubic meters – of which 400 cubic meters are in Portugal and the remainder in China.

“The plant is multi-purpose and is able to address a large number of specialized chemistries such as hydrogenation and low-temperature chemistry. The Cork site also provides Hovione with a new, E70 million capability to produce spray-dried formulations.”