Bridgewest Australia Holdings LLC acquires Pfizer manufacturing facilities.

Read: Bridgewest Australia Holdings LLC acquires Pfizer manufacturing facility in Adelaide, Australia.
Bridgewest Group today announced the acquisition of Pfizer's biologics manufacturing facility in Adelaide, Australia.
Pfizer Inc. Hospira Adelaide Pty Ltd., a subsidiary, will continue to operate the facility under an after-sales leaseback arrangement from Bridgewest Australia Real Estate Pty Ltd. until the third quarter of 2021, when Bridgewest will assume full operational responsibility for the facility and its staff.
terms of the transaction are not disclosed. the
Adelaide facility has manufacturing capabilities, staff expertise and support systems to manufacture and test microbial-based products at the cGMP (Dynamic Drug Production Management Practice) level, covering proteins, vaccines and protons from development to commercialization.
the facility has experience as a contract development and manufacturing organisation (CDMO) for a wide range of products and will further grow when it is incorporated into Bridgewest.
Bridgewest intends to invest in operational expansion, including increasing capacity around mammalian cell production, cell and gene therapy, and expanding existing capacity for microbial and vaccine production.
industry analysts say the pharmaceutical CDMO market will reach $148.5 billion in 2019 and is expected to reach $224.9 billion by 2025, with a compound annual growth rate of 7 percent between 2020 and 2025.
Due to the increased demand for generic drugs and biologics, the capital-intensive CDMO business and the complexity of manufacturing requirements, many pharmaceutical companies have found that contracting with contract processing outsourcing (CMO) organizations for clinical and commercial phase manufacturing is likely to be profitable, and there is now a strong demand for COVID-19 therapeutic drugs and vaccines using existing cGMP manufacturing facilities.
Dr Masood Tayebi, chief executive of Bridgewest, said: "Since investing in our first life sciences company, Pino Technologies, we have been fortunate to have a strong partnership with the life sciences industry over the past 16 years.
partnerships and trust paved the way for the successful completion of the transaction.
As we transition from this facility to a fully developed CDMO, we see great potential to leverage this Center of Excellence to ensure that we are able to meet the needs of our customers at all stages of drug development and manufacturing.
, president and chief executive of Bridgewest Australia Biotech, said: "We are delighted that we have been able to make our first acquisition in Australia.
facility is now well positioned to be an important facility to support the development and manufacture of therapeutic drugs for our customers around the world.
adelaide team is world class and we are delighted to take this opportunity to have a savvy and competent team of staff.
we invest in Bridgewest, we will be able to expand our capabilities and the solutions we can provide to become an important force on the local and international stage.
we will also look for more mergers and acquisitions opportunities to achieve these goals, and we will also seek to attract and retain the best talent in the market.
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