PwC acts for Pfizer on second disposal

Jan 22 2008 By The Journal

FOLLOWING the successful sale of its manufacturing facility in Morpeth in June 2006, Pfizer announced the sale of its subsidiary, Heumann PCS GmbH to the French-based group Fareva Holding SA in December 2007. The PricewaterhouseCoopers Corporate Finance team in Newcastle advised Pfizer on both disposals.

Amit Bhalla, corporate finance manager at PwC, said: “Morpeth was one of the first European plants to be divested by Pfizer following a global strategic review of its manufacturing capacity, and because of this successful completion, the PwC Newcastle Corporate Finance team, who had advised on the sale of the plant, was requested by Pfizer to advise on the disposal of Heumann PCS.”

Heumann PCS is a pharmaceutical contract manufacturing business based in Feucht, Germany and operates predominantly in active pharmaceutical ingredient and drug product manufacturing.