Australia's Stirling Products has acquired a pharmaceutical manufacturing facility in Cape Breton, Canada, purchased "at a major discount" to its $20 million going-concern replacement value. The deal follows the collapse of an unnamed Canadian pharmaceutical group and its institutional lender.
The cGMP-compliant facility is operational, and Stirling plans to take possession this week. The company cites the purchase as in line with its global positioning strategy. An industry press report says that Stirling may use the facility for third-party contract manufacturing of generic drugs, funded research, and drug production.
The facility is fitted with lab and drug manufacturing and packaging equipment. It includes water filtration systems, auto-mixing units to 3,000-kg capacity, and automated filling, labeling and packaging lines. Annual capacity is reportedly 550 million tablets, 5 million bottles and blend up to 1.5 million kg of product. It also has a granulating and grinding capacity.
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