Pfizer manufacturing facility acquired by PharmEng

Pfizer Canada has announced that its manufacturing facility in Arnprior, Ontario has been acquired by PharmEng International’s subsidiary Keata Pharma.

Keata and Pfizer have also finalised a supply agreement along with the sale which has given Keata exclusive manufacturing rights for certain Pfizer products in Canada for the next three years.

The facility will also manufacture two other products for major pharmaceutical clients which will see the plant become a world supplier for more than 30 countries.

Revenues from the multi-year supply contracts have been estimated by PharmEng to run up to $75,000,000 Canadian dollars (38 million pounds).

Alan Kwong, chief executive officer of PharmEng, described the acquisition as an “important milestone” for Keata as it extended the company’s manufacturing ability to include aseptic products.

“This is a key acquisition for the company to establish ourselves as a global player,” Mr Kwong stated.

Under the terms of the agreement, Keata will continue to employ the majority of the original workforce of 175 people as well as maintaining the manufacturing equipment and inventory.

Last month, Pfizer confirmed that it had entered into an agreement to acquire the privately-held biotherapeutics company CovX, which the company stated would enhance its biologic portfolio.