ICIG plans to acquire Roche Colorado

BOULDER – International Chemical Investors Group announced Wednesday evening that it plans to acquire Roche Colorado Corp., which includes Roche’s pharmaceutical production facility in Boulder.

The acquisition price was not disclosed.

The Roche Group, headquartered in Switzerland, employs approximately 265 workers in Boulder who develop and manufacture drug compounds.

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Frankfurt, Germany-based ICIG intends to operate the Boulder site, which will be renamed Corden Pharma Colorado Inc., as part of its pharmaceutical business within the Corden Pharma organization.

The chemical plant in Boulder was founded in 1946 as Arapahoe Chemicals Inc. by two brothers, Tom Waugh and Dick Waugh. The company was purchased by Syntex Corp. in 1965, and Roche Holdings Inc. purchased Syntex in 1994.

Corden Pharma is the pharmaceutical arm of ICIG investments. Under their agreement, Corden Pharma Colorado will supply Roche with a number of active pharmaceutical ingredients that the Boulder site currently produces. Roche Colorado spokesman John Tayer said the local work force will not be affected.

“Selling the Boulder site to ICIG will secure a reliable supplier to meet Roche’s demand for commercial scale peptides and other medicinal compounds,´ said Georg Wiebecke, the head of chemical manufacturing for Roche.  “We also are pleased to identify a buyer that will create a sustainable future for the Boulder site.”

“By purchasing the Boulder facility, we position ourselves for a commanding presence in the contract peptide manufacturing industry,´ said Wolfgang Niedermaier, president of Corden Pharma. “We are excited to expand the market for the Boulder site’s unique technical capabilities, attracting additional API production opportunities that will build on its existing portfolio of Roche products and other pharmaceutical contract business.”

International Chemical Investors Group is a privately owned industrial holding company focusing on mid-size chemicals and pharmaceutical businesses. Since inception in 2004, it has acquired 16 businesses, all of which have origins in major global chemical or pharmaceutical corporations and are independently managed.