Bristol Myers Squibb and WuXi STA – a subsidiary of WuXi AppTec – announced that WuXi STA has agreed to purchase Bristol Myers Squibb’s manufacturing facility in Couvet, Switzerland. The Couvet site will be the first facility in Europe for WuXi STA, a leading Contract Development and Manufacturing Organization. The acquisition will enhance WuXi STA’s existing capabilities while growing capacity to support its partners’ life-saving work.
The companies anticipate completing the transaction by Q2 2021, subject to regulatory approvals and the satisfaction of other closing conditions. Upon closing, WuXi STA will acquire the Couvet site’s operations and assets, which include the plant and equipment, as well as a workforce with technical capabilities and expertise.
“The Couvet site is a world-class facility designed for quality, safety, and efficiency, and we believe WuXi STA will be able to leverage the capacity and capabilities for its own operations as it continues to play a vital role for patients around the world,” said Lou Schmukler, Executive Vice President and President, Global Product Development and Supply, Bristol Myers Squibb. “This is an important step in the ongoing evolution of our manufacturing network to support our product portfolio. Switzerland remains an important strategic location for Bristol Myers Squibb, and we look forward to maintaining a strong presence in the Neuchâtel area.”
“We are pleased to add the Couvet manufacturing facility to our growing global manufacturing site network and look forward to working with the talented team who share our focus on excellence and a patient-centered approach,” said Dr. Minzhang Chen, CEO of WuXi STA. “The acquisition will allow WuXi STA to better serve European markets and support our global customers to deliver innovative medicines and treatments to patients around the world.”
The Couvet facility will continue to operate as part of Bristol Myers Squibb’s manufacturing network until the closing of the transaction.
William Blair and Company, LLC, is serving as exclusive financial advisor to Bristol Myers Squibb, and Covington & Burling LLP is serving as legal counsel.