AbbVie sells biologics plant to Pharmaron, fueling the China company's cell and gene therapy ambitions

AbbVie sells biologics plant to Pharmaron, fueling the China company's cell and gene therapy ambitions

Source: 
Fierce Pharma
snippet: 

Roughly half a year after closing its $63 billion megamerger with Allergan, AbbVie is letting go of the drugmaker's Liverpool, England biologics plant.

AbbVie agreed to sell off the biomanufacturing plant to China-based Pharmaron for $118.7 million in cash. The move comes shortly after Pharmaron bought out Absorption Systems in the U.S., paving the way for a cell and gene therapy platform that runs the gamut from early research to commercial manufacturing.