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Patheon will divest OTCs

This article was originally published in The Tan Sheet

Executive Summary

A sale of its over-the-counter manufacturing business will allow Patheon to focus its resources and capital on high-margin prescription pharmaceutical products, the Canadian company reports April 17. The sale will include the assets of the Niagara-Burlington Operations business, consisting of facilities in Fort Erie and Burlington Gateway, as well as commercial operations at Burlington Century. "We believe that another company with a strategic focus on this specialized [OTC] market will be better positioned to grow these high-quality, well-established operations more profitably," the firm notes. To improve profitability of remaining Canadian sites, the company will transfer substantially all commercial production and development services at its York Mills site in Toronto to its site in Whitby, Ontario. Upon its purchase of the Whitby facility in 2001, Patheon became the sole manufacturer and supplier of Novartis Consumer Health's TheraFlu line (1"The Tan Sheet" March 26, 2001, p. 18)...
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