Celgene Corp. announced Monday its acquisition of Siegfried Ltd.'s active pharmaceutical ingredient (API) manufacturing facility for about $46.5 million, with an initial payment of $12.5 million.
Celgene, a pharmaceutical company headquartered in Summit, N.J., is purchasing the assets from Siegfried of Zofingen, Switzerland, a manufacturer of pharmaceutical products, to expand its global commercial manufacturing capabilities and maintain its strategic control of production worldwide.
The API manufacturing facility can produce multiple drug substances and initially will be used to produce REVLIMID to supply global markets. The facility also may be used to produce drug substance for future Celgene drugs and drug candidates.
Under the terms of the acquisition, Siegfried will continue to work with Celgene to provide chemical intermediates, quality control systems, analytical testing and certain other technical support services.