Included in the transaction, Fresenius Kabi will enter a long-term supply agreement for products manufactured at the site. This is a significant milestone for both the Prange Group and Adragos Pharma expanding their presence around the world and adding substantial capacity for sterile liquid manufacturing.
The Halden site, situated at a strategic crossroads in Norway, is known to be one of the largest and most advanced sterile production facilities in Northern Europe. The state-of-the-art capabilities include the production of IV bags, ampoules, blow-fill-seal technology, and other pharmaceutical dosage forms. The site was not only a cornerstone of Fresenius Kabi's manufacturing capabilities in the Nordics but already caters to other prominent pharma customers as a contract manufacturer.
As a leading German family office with a long history of successfully investing in and growing pharma companies and CDMOs, it has been invested in Adragos since the start and remains a cornerstone shareholder and says this reflects long-term commitment to the sector.
Otto Prange, Chairman of the Prange Group, shared his vision for the acquisition: “Our collaboration with Fresenius Kabi is a strategic step that resonates with Prange Group's commitment to quality and reliability in supplying our customers and in caring for patients globally.
“Through our partnership with Adragos Pharma, we are set to enhance the potential of the Halden site, which is a testament to the dedication of Halden’s workforce. Recognizing the value of our employees, we are dedicated to fostering their expertise, ensuring that the legacy and integrity of the site continue to thrive.”
Adragos Pharma says it has gained attention as Europe’s fastest-growing CDMO and received several awards in recent years. Central to its growth, the company says, is a strong emphasis on customer service and a focus on the highest manufacturing standards from production sites in Europe and Japan.
Andreas Raabe, Adragos Pharma’s CEO, stated “The inclusion of the Halden site into Adragos Pharma’s network is a fantastic addition to ours. Halden has a broad range of technologies and offers considerable expansion space that allows us to tailor our services to the specific needs of our customers. We will be positioning the site as one of Europe's premier sterile production facilities.”
Hans-Christian Meyer, SVP of Operations, at Fresenius Kabi said: “This divestiture reflects our strategic decision to optimize our network and focus on our core areas of expertise. We are confident that the Prange Group together with Adragos Pharma are the right partners to carry forward the legacy of the Halden site.”
Detailed terms of the transaction will not be disclosed. The transaction is subject to customary conditions precedents.
The Prange Group is a leading family office with majority ownership in more than 60 companies across nine countries and several industry sectors including pharma, healthcare, IT, data science, and metal processing. The group was built by Otto Prange with a typical German ‘Mittelstand’ (SME) mentality and as such takes a deep interest in social and pro-bono engagements in the local community and is an advocate of sustainable and healthy growth.
Adragos Pharma is a globally operating CDMO with headquarters in Munich, Germany. Its declared goal is to expand its existing production network through acquisitions in Europe, North America, and Japan to attain a globally leading position within the next few years and set new standards in customer service and data centricity.