BOULDER — Germany-based pharmaceutical manufacturer Corden Pharma International GmbH has agreed to acquire the Hospira Boulder manufacturing plant from New York-based Pfizer Inc.
Financial terms of the deal were not disclosed, but the deal is expected to close in November. Pfizer announced in June last year that it intended to close or sell the Hospira facility.
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Hospira Boulder, to be renamed Corden Pharma Boulder, will be managed by Brian McCudden, chief executive of Corden Pharma Colorado Inc., who was responsible for Hospira Boulder during one of his previous assignments as an employee of Hospira.
The 100 workers at the Hospira plant will become employees of Corden Pharma, said Abbey Thompson, a spokeswoman for Corden Pharma Colorado.
Corden Pharma will enter into a multiyear supply arrangement with Pfizer, with the expectation that the agreement will help defray costs associated with running the site for the next few years while it adds new client work into the plant, according to a company statement.
The 54,000-square foot site at 4876 Sterling Drive in Boulder is relatively close to Corden Pharma Colorado’s manufacturing plant at 2075 55th St. It is capable of manufacturing APIs — active pharmaceutical ingredients — and other products.
Corden Pharma International is the global pharmaceutical manufacturing and service platform of International Chemical Investors Group, which is based in Luxembourg.