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Pfizer China to sell biologics DS, DP manufacturing facilities to WuXi Biologics
Hangzhou: WuXi Biologics has recently announced that the company has entered into an equity agreement with Pfizer China ("Pfizer") to acquire its state-of-the-art biologics manufacturing facilities as well as its labor force in Hangzhou, China.
The transaction is expected to close in the first half of 2021, which will immediately boost the commercial Drug Substance (DS) and Drug Product (DP) capacities for WuXi Biologics to address surging manufacturing demands.
Read also: Pfizer can help offset AstraZeneca vaccine delays: EU industry commissioner Thierry Breton
Ruchika Sharma joined Medical Dialogue as an Correspondent for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751