The global CDMO, in a realignment of its business operations, is withdrawing from the field of cell and gene therapy and increasing its focus on biologics.
While declining to comment on the specific growth strategy, a Novo Holdings spokesperson confirmed a statement provided by its senior partner to Reuters last month.
The company sees its contract development and manufacturing organization business as poised to benefit from investments in Eurofins CDMO Alphora in Mississauga, Ontario.
The CDMO recently added a five-head isolator filler, designed for fill-finish activities, with the potential to generate up to $300 million in revenue annually.
In September, Agilent completed its acquisition of Biovectra, a contract development and manufacturing organization. Now, President Trump has threatened Canada with tariffs.
President Trump on Saturday imposed tariffs on imports from Canada, China, and Mexico. On Monday, Trump said he would pause the levies on Canada and Mexico.
CEO Alberto Santagostino, who took the helm in November 2024, is looking to differentiate the Seattle-based company from other CDMOs targeting the biopharma industry.
Albert Bourla told CNBC that Pfizer’s manufacturing operations in Europe could be potentially impacted if President Trump orders pharmaceutical import tariffs on EU.
The error stems from a manufacturing issue which could lead to incorrect dosing calculations, potentially resulting in severe hyperkalemia and life-threatening complications.
The pharma and lab equipment company reported that the business situation “stabilized” last year, despite a “difficult” environment that lasted longer than expected.
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