Issue Date: December 15, 2008
Hovione Will Buy Pfizer's Ireland Plant
Portuguese fine chemicals producer Hovione will acquire Pfizer's pharmaceutical chemical plant in Loughbeg, County Cork, Ireland, for an undisclosed sum. The site, which has 427 m3 of capacity and makes intermediates for Lipitor, will continue to serve Pfizer. Hovione says it will also begin transferring products from Portugal and validating processes for new customer products that appear slated for drug approval. With the acquisition, Hovione's production capacity will be divided roughly evenly among plants in Ireland, Portugal, and China.
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