STA Pharmaceutical to Acquire BMS’s Couvet Manufacturing Site in Switzerland

NEW YORK and SHANGHAI, Feb. 2, 2021 /PRNewswire/ -- Bristol-Myers Squibb (NYSE: BMY) and WuXi AppTec's subsidiary, Shanghai Syntheall Pharmaceutical Co., Ltd. (Syntheall), jointly announced today that Syntheall will acquire Bristol-Myers Squibb's manufacturing site in Couvet, Switzerland. As a global leading CDMO for new drug research and development and manufacturing, Syntheall will make the Couvet facility its first production base in Europe upon completion of the acquisition. This move will further expand its platform capabilities and scale, helping partners accelerate the R&D process of new drugs and benefit patients worldwide.

Bristol-Myers Squibb’s Couvet, Switzerland manufacturing site (Image source: Bristol-Myers Squibb)

Subject to regulatory approval and the satisfaction of customary closing conditions, the transaction is expected to be completed in the second quarter of 2021. Thereafter, Shanghai Syntheall Pharmaceutical Co., Ltd. will fully take over the hardware facilities and operational management of the Kuwei production base, including the plant, equipment, technology, and personnel.

“The Couvet production site has achieved world-class standards in quality, safety, and production efficiency. We believe that Shanghai Syntheall Pharmaceutical Co., Ltd. will fully leverage the site’s advantages in scale and technology to continue benefiting patients,” said Lou Schmukler, President of Global Product Development and Supply Chain at Bristol-Myers Squibb. “This transaction is critical to the development and evolution of our global manufacturing network, enabling better support for the company’s innovative product portfolio. Switzerland remains a strategic hub for the company, and we look forward to operating in Neuchâtel.”atel) region continues to maintain a strong market position.”

“Welcome the Kuwei production base to join Syntheall’s global network. We share the common philosophy of ‘Customer First, Pursuit of Excellence’ with the local talent team in Kuwei, and we look forward to working together.” Dr. Chen Minzhang, CEO of Syntheall, stated, “Through this acquisition, we aim to better empower our customers in Europe and around the world, helping more new and high-quality medicines reach the market sooner for the benefit of patients worldwide.”

Prior to the completion of the merger and acquisition transaction, the Kuwei production base continued to operate under the Bristol-Myers Squibb manufacturing system.

William Blair & Company served as the exclusive financial advisor to Bristol-Myers Squibb. Covington & Burling LLP served as legal counsel.

Regarding Swiss Kuwei (Couvet) Production Base

The Couvet production base is located in the Canton of Neuchâtel, Switzerland.atel). This facility boasts advanced manufacturing capabilities, enabling large-scale commercial production of capsules and tablets. It complies with industry-leading energy efficiency and environmental protection standards, ensuring future sustainable development.

About Bristol-Myers Squibb

Bristol-Myers Squibb is a global biopharmaceutical company whose mission is “to discover, develop and deliver innovative medicines that help patients prevail over serious diseases.” For more information, please visit the official website of Bristol-Myers Squibb China.www.bms.com.cn。

About Syntheall Pharmaceutical

Shanghai Syntheall Pharmaceutical Co., Ltd. (Syntheall), a subsidiary of WuXi AppTec, operates R&D and manufacturing facilities across multiple global locations. Serving the life sciences industry, Syntheall possesses advanced capabilities and technological platforms for the research, development, and production of innovative chemical drugs. As a leading global contract development and manufacturing organization (CDMO), Syntheall is committed to providing its worldwide partners with efficient, flexible, and high-quality one-stop CMC (Chemistry, Manufacturing, and Controls) solutions spanning from preclinical stages to commercialization. For more information, please visit the company’s website:www.STApharma.com.cn

About WuXi AppTec

WuXi AppTec (Stock Codes: 603259.SH/2359.HK) provides comprehensive, integrated R&D and manufacturing services for new drugs to the global biopharmaceutical industry. By empowering pharmaceutical, biotechnology, and medical device companies worldwide, WuXi AppTec is committed to accelerating the new drug R&D process and delivering breakthrough therapies to patients. Adhering to its mission of prioritizing research and maintaining a customer-centric approach, WuXi AppTec helps clients enhance R&D efficiency through cost-effective and high-quality services. Its service portfolio spans the R&D and manufacturing of chemical drugs, the R&D and manufacturing of cell and gene therapies, and medical device testing, among other areas. Currently, WuXi AppTec’s enabling platforms support R&D and innovation projects for over 4,100 partners from more than 30 countries, striving to bring more innovative and effective medicines to patients worldwide and realize its vision of “making it easy to develop drugs and cure diseases.” For more information, please visit the company website:www.wuxiapptec.com

Forward-Looking Statements 

This press release contains “forward-looking statements,” as defined in the Private Securities Litigation Reform Act of 1995 regarding pharmaceutical research, development, and sales. Forward-looking statements are not strictly tied to historical or current facts. Such forward-looking statements are based on expectations and estimates concerning historical performance, as well as the Company’s future financial results, long-term objectives, plans, and short-term goals. These statements involve inherent risks, assumptions, and uncertainties, including internal or external factors that may cause delays, deviations, or changes in any part thereof in the coming years, making them difficult to predict and potentially beyond the Company’s control. As a result, the Company’s actual future financial results, long-term objectives, plans, and short-term goals may differ materially from those expressed in such statements. These risks, uncertainties, and other matters include, but are not limited to: the ability to complete the relevant information consultation procedures with applicable employee representative bodies regarding the proposed transaction; whether the relevant parties satisfy the conditions for consummating the contemplated transaction; Bristol-Myers Squibb’s delay or failure to realize the anticipated benefits of the transaction; and delays in or failure to complete the anticipated transaction on a timely basis as described in this press release. We do not provide any assurances with respect to any forward-looking statements.

The forward-looking statements in this press release should be considered in conjunction with the many risks and uncertainties that could affect Bristol-Myers Squibb’s business and market, particularly those identified in the cautionary statements and risk factors discussion set forth in Bristol-Myers Squibb’s Annual Report on Form 10-K for the year ended December 31, 2019. These disclosures have been subsequently updated in Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other filings submitted to the U.S. Securities and Exchange Commission. The forward-looking statements contained in this press release are made as of the date of this document. Except as required by applicable law, Bristol-Myers Squibb undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changes in circumstances, or otherwise.