updated
Patheon sells clinical packaging biz to Bellwyck
The divested Patheon unit is headquartered at its facility in Burlington, Ontario, Canada facility and also has operations in Cincinnati, Ohio, US.
Patheon declined to comment when Outsourcing-pharma.com asked how many people were employed in the divested unit and how may would be kept on by Bellwyck.
However, in a statement announcing move the firm suggested that 20 employees will be joining Ontario, Canada-headquartered Bellwyck.
The clinical packaging unit was part of Patheon's pharmaceutical development services (PDS) business, which had a mixed third quarter.
The PDS business saw revenue increase $3m to $5.3m (€2.3m), thanks to “higher development activities from new contracts across most sites,” while EBITA fell 15.3 per cent to $5m on costs associated with the restructuring plan Patheon announced in September last year.
The cost cutting plan - which saw the firm sell its plant in Carolina, Puerto Rico in February, was expanded in May this year to include Patheon's operations in Swindon, UK.
In its last quarterly filing the firm explained that it had decided "to make certain adjustments over the next 24 to 36 months to the scale and scope of business conducted at its Swindon, UK, facility.
"These adjustments include winding down or transferring non-cephalosporin commercial production to other facilities and, to the extent possible and commercially appropriate, directing PDS projects that require commercialization activities to other facilities."
The clinical packaging unit sale is a continuation of the wider restructuring process according to Patheon CEO James Mullen who commented on the sale.
He said: “While we don't expect the terms of the transaction to have a material impact on our on-going results, this transaction is part of our continued focus on our core competencies of solid-dose and parenteral development and manufacturing."
