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Fresenius Kabi broke ground on a previously announced $250 million expansion of its Melrose Park, IL, manufacturing facility.
On Sep. 21, 2017, Fresenius Kabi, a German specialty and generic pharmaceuticals company and a subsidiary of Fresenius SE & Co. KGaA, broke ground on a $250-million expansion of its Melrose Park, IL manufacturing facility. The site, announced in August 2016, will facilitate the aseptic manufacturing of generic injectable medicines. The expansion of the facility will include several new buildings, with completion expected by 2026.
This investment is part of a recent series of business endeavors by the company. In April 2017, the company publicized an agreement to acquire Akorn, a US-based manufacturer and marketer of prescription and over-the-counter pharmaceutical products, for $34 per share, equivalent to $4.3 billion, plus approximately $450 million of net debt. During that time, the company also announced plans to acquire Merck KGaA’s biosimilars business, which closed in September 2017, for the purchase price of EUR 656 million (US$769 million).
Source: Fresenius Kabi