The Italian pharmaceutical company Olon has taken a significant step by acquiring Huvepharma Italia, the Italian branch of the Bulgarian company Huvepharma.
This acquisition marks the first time the Garessio site in Cuneo is under Italian ownership, as it has historically been operated by foreign entities.
The Garessio facility, which spans 264, 000 square meters and includes eight production lines, half of which are automated, will now be integrated into Olon's operations.
This move aims to boost Olon's production capacity, with plans to increase the site's active pharmaceutical ingredient synthesis to 3, 250 cubic meters.
This expansion will make Olon the company with the most production sites in Italy, totaling nine.
The Garessio site will not only produce active ingredients but also offer research and development services to external clients.
Olon's CEO, Paolo Tubertini, emphasized that this acquisition supports the company's long-term strategy and business objectives, leveraging its global production network of 11 sites and seven interconnected research centers.
In addition to the Italian expansion, Olon is also growing its presence in France by acquiring Gtp Bioways from Sanofi.
This acquisition includes four sites in France, focusing on the development and production of active ingredients, biological products, monoclonal antibodies, nanopharmaceuticals, vaccine bottling, and analytical development.
Tubertini highlighted that this move strengthens Olon's services, aiming to create new business opportunities and access high-potential markets.
By the third quarter of 2024, Olon plans to finalize a €25 million investment in a facility dedicated to the development and production of 'Ultra High Potent' active ingredients.