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October 1, 2015
By: Catherine Diamon
BASF has completed the previously announced sale of its pharma custom synthesis business and parts of its active pharmaceutical ingredients (APIs) business to Siegfried Holding AG. The relevant merger control approvals have already been granted. Effective October 1, 2015, Siegfried Holding AG takes over the operational management of the businesses. As part of the transaction about 850 employees transfer to Siegfried. The enterprise value is approximately €270 million. In order to ease transition for customers, BASF will provide transitional services until late 2016, including sales and distribution of the divested API portfolio as non-exclusive distributor for Siegfried. The pharma custom synthesis business has been transferred in its entirety to Siegfried. BASF is a leading solution provider and ingredients innovator for the pharmaceutical industry and is focusing its pharmaceutical ingredients & services business on its core expertise in pharmaceutical excipients. Selected APIs, such as ibuprofen, omega-3 fatty acids and polyethylenglycol (PEG), where the company has a leading market position, will remain a key part of BASF’s portfolio.
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