AstraZeneca plans to sell its Dunkirk plant to Minafin

Published: 9-Feb-2009

AstraZeneca is planning to sell its Dunkirk site in northern France to Minafin, a Luxembourg firm that specialises in fine chemicals.


AstraZeneca is planning to sell its Dunkirk site in northern France to Minafin, a Luxembourg firm that specialises in fine chemicals.

A letter of commitment is reported to have been signed, pledging AstraZeneca to exclusive talks with Minafin, although the discussions could take several months. Several potential buyers have discussed the possibility of purchasing the site in recent months, but the letter of commitment marks the start of exclusive discussions with Minafin.

The Dunkirk site employs some 200 people and is the only plant in the AstraZeneca group to produce esomeprazole, the active ingredient in the antiulcer drug Nexium. In April 2008, AstraZeneca signed an agreement with Ranbaxy to transfer part of the production of esomeprazole to the Indian generics group when the patent on Nexium runs out in 2014-2015.

Last October AstraZeneca announced that 95 jobs would be cut on the site, and the projected sale will not alter the planned reduction.

The planned sale does not include the Dunkirk site's pharma production activities for the manufacture of Symbicort (budesonide + formoterol) metered dose inhalers.

Minafin is a financial holding company based in Luxembourg that controls the French company Minakem and the Germany company Chemtec. Minakem currently has just one production site in France at Beuvry la Foret. It also has a commercial subsidiary and another production site in the US. Chemtec is located at Leuna, near Leipzig.

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