Ferring announces sale of manufacturing operation

Ferring Pharmaceuticals has announced that it has entered into an agreement with Shanghai Dongbao Biopharmaceutical, whereby it will sell its manufacturing business in Malmo to that company, effective at the start of January next year.

The company had previously announced the cessation of manufacturing at the plant by March 2008, which has been reversed with the new decision, with 50 workers securing their employment at the plant.

Michel Pettigrew, chief operating officer at Ferring Pharmaceuticals, said: “From the very beginning, our aim has been to find a solution which would maintain the Malmo production site.”

He added that in securing the long-term status of the manufacturing plant, the deal would enhance the local community in addition to preserving employment for 50 workers at the site.

In July this year, Ferring Pharmaceuticals announced the opening of its administrative headquarters and new production site in Saint-Prex in Vaud. The project was a result of an investment of over CHF 130 million (55.2 million pounds), with 350 jobs to be created by 2008 at the site.

The new site included a 3,600 sq metre administrative section in addition to 23,000 sq metre building houses involved in all stages of manufacturing, from production to distribution.