Patheon opens European headquarters

By Gareth Macdonald

- Last updated on GMT

Related tags Switzerland Patheon

Patheon’s European HQ is up and running to help manage the firm’s growing European operations, specifically its development and commercial service offerings provided by units in France, Italy and the UK.

CEO Wes Wheeler explained that the new unit, located in Zug, Switzerland, would improve the integration and efficiency of its facilities in the region whose largely independent operation had, he admitted, been “less than ideal for effective and harmonized communications to our clients.”

Wheeler also said that Zug’s position as “home to the Swiss or European headquarters of many of [Patheon’s] pharmaceutical and biotechnology clients​” was a key part of the company’s rationale for choosing it as a base.

Aldo Braca president of Patheon Europe, reiterated the benefits of the location, commended the “quality, education-level and accessibility of a multilingual local labour force​,” available in the town.

Braca added that the company had already initiated its recruitment programme and plans to employ a total of 25 sales and support staff at the new facility.

For the three months ended July 31, Patheon’s contract manufacturing operations generated $157.3m (€122m) up 15 per cent on the comparable period in 2007, which the firm attributed to an expansion of its European contract manufacturing customer base.

Overall for the quarter, Patheon’s manufacturing and development activities in Europe, which include products made elsewhere but sold in the region, generated revenues of $93.7m in the period, up around 12 per cent on the May to June period last year.

This increased income, which is equivalent to 48 per cent of Patheon’s quarterly net, indicates that Europe is a key market. If, as the firm suggests, the new European HQ will boost the efficiency of its operations the region is likely to retain its position as a key revenue generator over the next few years.

Related topics Contract Manufacturing & Logistics

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