ICIG announces sale of CordenPharma to Astorg
Niederer Kraft Frey advised International Chemical Investors Group (ICIG) on the sale of CordenPharma to European private equity firm Astorg. As part of the transaction, the founders will take the opportunity to reinvest in Astorg as partners.
CordenPharma is a global leading pharmaceutical CDMO (Contract Development & Manufacturing Organisation) with highly differentiated capabilities in Active Pharmaceutical Ingredients, Excipients, and Drug Products which has experienced strong organic growth thanks to its position in complex and fast-growing drug modalities including mRNA vaccines, peptides and high-potency compounds notably for oncology therapeutics. Established in 2006, CordenPharma today employs more than 2,600 people in 11 manufacturing facilities and one R&D laboratory located across Europe and the US and serves more than 250 blue-chip pharma and biotech customers.
The NKF team advising ICIG was led by Corporate/M&A partner Philippe Weber, working with counsel Janine Reudt-Demont (Life Sciences), senior associate Simon Bühler (Banking & Insurance), associates Corinne Russi, Samuel Hochstrasser (both Corporate/M&A) and Annina Fey (Employment) as well as junior associates Carlotta Ulmer and Alexander Züger.
A multi-jurisdictional Freshfields team acted as international counsel to ICIG and was led by partner Arend von Riegen (Frankfurt) and partner Natascha Doll (Hamburg) working with principal associate Ferdinand Dreher (Berlin) and associate David Anschütz (Frankfurt).
Earlier this year, the same NKF team had assisted CordenPharma in the acquisition of two Swiss facilities and one facility in Portugal from Vifor Pharma.