Saint Prex, Switzerland and Shanghai, China
Friday 17 November, 2006
Ferring Pharmaceuticals and Shanghai Dongbao Biopharmaceutical Company announced today the signing of an agreement by which Dongbao Biopharmaceutical will purchase Ferring's manufacturing operation at Malmö in Sweden.
Earlier this year, Ferring informed staff of its plan to cease manufacturing at Malmö by the end of March 2008. However, the acquisition by Dongbao Biopharmaceutical has secured the jobs of around 50 members of staff. The agreement will become effective on 1 January, 2007.
"From the very beginning, our aim has been to find a solution which would maintain the Malmö production site," commented Ferring Pharmaceuticals Chief Operating Officer, Michel Pettigrew. "This agreement is a boost for the local community and has secured the long-term future of the factory for around 50 employees, whose experience will be invaluable to Dongbao Biopharmaceutical."
"We see great potential for the manufacturing centre at Malmö," added Dr George Li, President of Dongbao Biopharmaceutical. "The site is technically very developed and the current team, who will be an important part of our future business development, offer a lot of knowledge and competencies."
Ferring is a Swiss-based research driven, speciality biopharmaceutical group active in global markets. The company identifies, develops and markets innovative products in the areas of endocrinology, gastroenterology, gynaecology, fertility and urology. In recent years Ferring has expanded beyond its traditional European base and now has offices in over 40 countries.
To learn more about Ferring or our products please visit www.ferring.com.
About Dongbao Biopharmaceutical:
Shanghai Dongbao Biopharmaceutical Co., Ltd. is part of the business operation of Dongbao Enterprise Group Co., Ltd., which is one of the leading biopharmaceutical groups in China. In recent years, Dongbao Group has successfully developed from a traditional pharmaceutical company into a high-tech biopharmaceutical company. As one of the most important divisions of Dongbao group, Shanghai Dongbao Biopharmaceutical Co., Ltd. is handling the group's international development strategies.
For more information about Dongbao, please visit www.dongbao.com .
For further information, please contact:
+41 58 301 00 53
Dr George Li
Shanghai Dongbao Pharmaceutical Co Ltd.
+86 21 639 10001