The Pierre Fabre Group has just signed an agreement with the Argentine laboratory Sidus for the sale of its Argentine site specializing in the production of active pharmaceutical ingredients. Located in Virrey del Pino (Buenos Aires province), this site specializes in the production of an active ingredient of animal origin used in the composition of anti-arthrosic specialties. All 75 employees will join the Sidus workforce when the site is taken over, expected by the end of the summer.
This sale follows that of a drug packaging site owned by Pierre Fabre in Vietnam, for which a takeover agreement has just been signed with the Vietnamese group Asan Chemical Corporation (ACC), which specializes in the manufacture of active cosmetic and pharmaceutical ingredients. Located in the province of Ho Chi Minh, this site employs 20 people, some of whom will join the workforce of the buyer.
"We are delighted to have found such valuable buyers for our production sites in Argentina and Vietnam. These two countries remain important markets for Pierre Fabre, particularly Argentina, where we are the leader in the dermo-cosmetics market" declares Eric Ducournau, Chief Executive Officer of the Pierre Fabre Group. "The growth strategy we have been pursuing for the past 2 years requires substantial investment in the acquisition and marketing of new products in oncology and dermatology. We would not have had the resources to support the development of these sites as well as the local players who are preparing to take them over.
These divestments confirm Pierre Fabre's strategy of prioritizing the establishment of its industrial activities in France, where the Group has 7 plants, 5 of which are located in the South-West (Castres-Soual, Avène, Gaillac, Aignan, Cahors) and 2 in the Loiret department (Gien, Chateaurenard). Around 95% of the Group's production is thus carried out in France, in areas that are often landlocked and poorly industrialized.
Pierre Fabre also has industrial sites in Brazil (production of dermo-cosmetics for the Brazilian market), Tunisia (packaging of medicines for African markets) and Switzerland (manufacture of active pharmaceutical ingredients). These sites are linked to brands or partnerships that are intended to remain in the company's portfolio.