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news.Scope of acquisition includes buildings, equipment, machinery and some existing contracts
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Sanofi-Aventis has announced that Sanofi-Aventis Deutschland has purchased the Diabel manufacturing plant in Frankfurt-Hochst, Germany, from Pfizer.
Sanofi-Aventis is exercising its step in the right direction, regarding a purchase contract signed between Pfizer and Mannkind in March 2009. The scope of the acquisition includes buildings, equipment, machinery and some existing contracts. The acquistion is valued at E30 million.
Martin Siewert, General Manager, Sanofi-Aventis, said: “The strong increase in demand for our insulins, and especially Lantus, drives us to considerably extend our production capacities. In combining the acquired Diabel site with our existing plants Sanofi-Aventis will operate the largest insulin capacity in the world in Frankfurt. The opportunity to acquire the Diabel plant comes at the right time for us and underlines the strong dedication of the Group to fight Diabetes.”
The closing of the transaction will occur in the coming weeks after the fulfilment of all necessary formalities.