International Chemical Investors Group Announces Agreement to Acquire Pharmaceutical Intermediates Business from Genzyme Corporation
Feb 03, 2011
Luxembourg – International Chemical Investors Group (ICIG) announced that it has entered into a purchase agreement under which an affiliate of ICIG will acquire the pharmaceutical intermediates business from Genzyme Corporation. Under the terms of the agreement, ICIG will purchase substantially all of the pharmaceutical intermediates business, excluding the drug delivery technologies portion of the business. ICIG has agreed to offer employment to the unit’s approximately 120 employees upon closing, and plans to maintain operations at its primary location, a manufacturing facility in Liestal, Switzerland. The acquired pharmaceutical intermediates business will be renamed CordenPharma Switzerland LLC and will operate as part of ICIG’s pharmaceutical business within the CordenPharma platform.