Siegfried Expands US Drug Substance Capacity

Siegfried AG, a global Contract Development and Manufacturing Organization (CDMO), has signed agreements to acquire the drug substance business of Noramco Group and Extractas Bioscience. This acquisition includes sites in Delaware, Georgia, and Tasmania, adding about 400 employees to Siegfried's workforce. The move is part of the company's EVOLVE+ strategy to enhance its presence in the US pharmaceutical market.

Siegfried plans to enhance its synthesis business by optimizing capacity at its Wilmington and Pennsville sites. The acquisition also strengthens Siegfried’s integrated offerings and aims to accelerate growth and profitability. CEO Marcel Imwinkelried stated that this transaction will make Siegfried more appealing to new and existing clients.

The acquisition, valued at under 10 times Enterprise Value/EBITDA, will be funded through existing and new debt instruments. The transaction is expected to close later this year, subject to customary conditions.