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Solvay Sells Two Pharma Facilities To ANI

Tue, 05/08/2007 - 7:28am
Edited by Amy Radishofski, Staff Reporter

MARIETTA, Ga.- Solvay Pharmaceuticals, as part of its global manufacturing strategic plan, announced Monday the sale of its Baudette, Minn. facilities to ANI Pharmaceuticals (ANI).

Under the agreement that went into effect on April 30, 2007, ANI will assume current manufacturing and packaging activities at Solvay’s Main Street and hormone facilities in Baudette. ANI will also serve as contract manufacturer to Solvay for its products produced in Baudette and will continue to provide laboratory services.

“While the decision to divest our operations in Baudette was not easy, it was a necessary part of our global manufacturing strategy and ensures the long-term viability of the operations in Baudette,” said Laurence Downey, M.D., president and CEO, Solvay We look forward to continuing our relationship with this talented group of people as we transition ownership to our new partners at ANI.”

“This transaction represents a defining event for ANI, providing expanded liquid and tablet production capabilities, and a highly experienced team of individuals, which will accelerate ANI’s penetration of the Generic Prescription Market,” said Tom Anderson, President and CEO, ANI Pharmaceuticals. “We are also excited about the prospects of supporting Solvay Pharmaceuticals’ continued growth, and future expansion of this partnership between our two companies.”

Maryland-based ANI Pharmaceuticals specializes in generic prescription and OTC product markets.

Solvay Pharmaceuticals is based in Georgia and focuses on the therapeutic areas of neuroscience, cardio-metabolic, influenza vaccines, gastroenterology, and men’s and women’s health.

 

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