Famar set to step into North America by buying Quebec plant from Bayer
Financial details of the deal have not been divulged but Famar’s COO Jeff Morrod told this publication the contract development and manufacturing organisation (CDMO) would continue making products - mainly consumer health products – on behalf of its previous owner at the Pointe-Claire, Quebec facility.
“Pointe-Claire is an FDA approved facility with capacity in liquids, creams, ointments and solids,” he said. “We would consider adding further dosage forms if required by our customers [and] we will continue to produce for Bayer.”
The Pointe-Claire facility will become the twelfth production site for the Greece-based CDMO, and will be the first Famar plant to be located outside of Europe. The acquisition is expected to close early next year.
According to various financial reports, Famar is among the top five of small molecule contract manufacturing organisations (CMOs), but Morrod said the firm needs to expand its global presence to achieve further growth.
“Famar has made the strategic decision to move into the North American market. We will consider further growth and acquisitions in the region. We believe that in order to play an important role in the region, it is necessary to have facilities there,” he told us.
“It is a very important market for the pharmaceutical industry, and we aim to successfully compete, offering our commitments to Quality, Service and Customer focus.”