Cuatrecasas steers Siegfried’s acquisition of two Novartis plants

Cuatrecasas has advised Swiss group Siegfried on its acquisition of the two biggest Novartis plants in Spain

Swiss group Siegfried, specializing in pharmaceutical contract manufacturing, has acquired the share capital of two Novartis companies, owners of its two biggest pharmaceutical manufacturing plants in Spain. The two plants, owned by the Swiss pharmaceutical group Novartis, are located in El Masnou and Barberà del Vallés, and have over 1,000 employees.

According to the law firm, thanks to this transaction, which closure is planned for the end of the year, Siegfried, whose objective is to create one of the most competitive global comprehensive networks in the contract development and manufacturing organization (CDMO) industry, will have a manufacturing presence in Spain, improve its worldwide production network, and have a greater growth potential in profit-earning capacity in the CDMO sector. It will also become a long-term supplier to Novartis, thanks to a manufacturing and supply agreement the two companies signed in the framework of the transaction. The factories, whose employees will continue with the same working conditions, will also manufacture products for third-party companies.

Cuatrecasas advised Siegfried with a team formed by Madrid office M&A partner Mariano Ucar (pictured left), Barcelona office Life Sciences & Healthcare senior associate Ariadna Casanueva, Madrid office M&A associate Carlota Tojo, Barcelona office Public Law partner Juan Carlos Hernanz (pictured right) and Barcelona Office Public Law & Regulated Sectors associate Santiago Tomás Pujol.