American pharmaceutical firm Bristol Myers Squibb is selling one of its Swiss medicine production facilities to the Chinese company WuXi STA.This content was published on February 2, 2021 - 16:39
The Couvet factory in western Switzerland employs 100 staff manufacturing medicines in capsule and tablet form. It is expected to pass into WuXi’s hands for an undisclosed sum following regulatory approval in the second quarter of this year. Couvet will be the first European drugs production site for the Chinese firm, which acquired the company to boost its global imprint.
There is no indication at this stage whether the change of ownership will affect jobs at the production facility.
Bristol Myers Squibb currently employs around 1,220 people at five locations in Switzerland, including Couvet. The company said it was committed to staying in Switzerland despite the WuXi deal.
“This is an important step in the ongoing evolution of our manufacturing network to support our product portfolio,” stated Bristol Myers Squibb senior executive Lou SchmuklerExternal link. “Switzerland remains an important strategic location for Bristol Myers Squibb, and we look forward to maintaining a strong presence in the Neuchâtel area.”