Fresenius Kabi has sold its cancer drug compounding business CFL BmGH to NewCo Pharma GmBH. The business was sold about five years after the parent compant spent €42 million to buy the German compounding facility.
The deal will now get NewCo Pharma GmBH, the Manheim based company, full control of CFL. The facility specializes in the production of cancer treatment preparations that are patient specific and injectable. This includes antibodies and cytostatics.
The compounding centers owned by CFL are in Aschaffenburg and Munich. It also has other compounding facilities, including Compounding Rheinische in Bonn, cas central compounding Baden-Württemberg in Stuttgart, Onco Service in Osnabruck, and Fortuna Herstellung in Mannheim.
Matthais Link, a spokesperson for Fresenius Kabi, confirmed the divestiture. He told a leading pharmaceutical news agency that the company had announced the sale of their German oncology compounding business. The business was closed on Tuesday evening.
He also added that the deal CFL and all five of its compounding centers, including the base compounding center in Aschaffenburg.
The parent division of CFL, Fresenius Kabi, had acquired two of its centers in 2010 for €31 million. This included the cas central compounding Baden-Württemberg and Fortuna Herstellung. After another year, the company spent another €11 million on a German compounding facility.
Fresenius Kabi spokespersons did not reveal the reason behind the divestiture of CFL. The facilities had generated the parent company €77 million in 2014.
According to Link, Fresenius will resume operations in the compounding sector. Within Germany, the compounding sector will be focused increasingly on nutrition products of an intravenous nature. He also added that due to the company noticing better opportunities in Germany, they wish to bundle their resources there.