Pfizer has sold another Hospira plant, its second in eight weeks, as it continues to whittle down the unwanted operations it picked up in its $15 billion buyout of the sterile drug manufacturer.
CDMO CordenPharma says it has a deal to buy the Hospira high containment API facility in Boulder, Colorado. Corden will take on the 100 employees at the plant when the deal closes, which is expected in November.
The dollars and cents of the deal were not made public, but Corden said it has a multi-year supply arrangement with Pfizer that will help it cover costs of the operation over the next few years while it builds the business.
Pfizer last year said the Boulder site was underutilized and it would be closed by 2019 if a buyer couldn’t be found.
The 54,000-square-foot facility with more than 100 employees has API production capabilities ranging from small scale up to 3,000 liters. CordenPharma said the facility, which it bought to bolster its highly potent and oncology platform and supply services, will be integrated with another site in Boulder which Corden’s parent company, International Chemical Investors Group, bought from Roche in 2011.
Hospira has been steadily paring down operations it doesn't need. The Boulder facility is the second Hospira plant Pfizer has agreed to sell in the last two months. In August, it reached a deal with CDMO Avara to sell its plant in Liscate, Italy. Avara took on the 250 employees that work there.
It also sold off Hospira's infusion pump and medical device businesses to ICU Medical for $1 billion last year and decided to close four Hospira logistics centers across the country and consolidate distribution into two Pfizer logistics centers. That move cost more than 100 workers their jobs.
Just ahead of its sale to Pfizer in 2015, Hospira closed a plant in North Carolina and laid off about 250 workers there.