Pfizer acquired this site which made sterile injectibles, when Pfizer acquired Wyeth some years after their 2000 Consent Decree, which effectively bankrupted Wyeth. This location and others had a raft of consultants detailed to the Wyeth sites to get their manufacturing compliance back up to conformance standards (I was one of them).
Pfizer has grabbed distressed firms like Hospira (former Abbott spin off that got in serious manufactruing compliance trouble back in 2011-2012) and Pharmacia-Upjohn over the past decades also. Pfizer bought a real tar baby with Hospira. Now Pfizer is starting to get alot of FDA regualtory complaince attention in the context of having to address repreat manufacturing deficiencies - what brought down Hospira in the first place.
Pharrma companies that are slapped with Consent Decrees often find themselves targets for take-over. e.g., Warner-Chilcott (1995 Consent decree) taken over by Pfizer, Schering-Plough (2003 Consent decree) taken over by Merck, Genzyme (2009 Consent decree) taken over by Sanofi, Ben Venue Labs div of Boehringer Ingelheim (2013 Consent decree) acquired by Hikma . Abbott (2001 Consent decree) and GSK (2006 Consent decree) survived intact but both bled out of big $ (GSK paid $600mil in fines)
It's a double-edged sword. The consent decrees can go both ways. Pharmaceutical cos with under consent decrees become takeover targets due to perceived financial or operational weaknesses, OR may become attractive after successfully cleaning up their operations. Takeovers seen in Warner-Chilcott by Pfizer, Schering-Plough by Merck, Genzyme by Sanofi, Ben Venue Labs by Hikma, for example. I wonder if the giants are working under the table with the regulators to deploy these consent decrees, and weaken their targets and crater their share prices.
It doesn't work that way. These firms are in the hottest of water when they recieve Consent decrees for manufacturing compliance failures. $15K/day fines until the problems are solved. Abbott survived its CD in part because they were sole providers at the time of certain types of unversally used disposable medical equipment (e.g., syringes, tubing, dressings, etc.). GSK survived in part becuse they moved high value sterile injectible products out of the Puerto Rico facility where the offending solid oral dose products were being manufacured (I was part of a team of ~ 120 consultants sent there to effectively baby sit production and oversee the documentation generated for each batch of product released.) GSK eventually shut the facility down.
CDs do tend to depress company values and stock prices, and tey ecom take over targets. Vultures like Pfizer have a habit of snatching up distressed properties
Pfizer acquired this site which made sterile injectibles, when Pfizer acquired Wyeth some years after their 2000 Consent Decree, which effectively bankrupted Wyeth. This location and others had a raft of consultants detailed to the Wyeth sites to get their manufacturing compliance back up to conformance standards (I was one of them).
Pfizer has grabbed distressed firms like Hospira (former Abbott spin off that got in serious manufactruing compliance trouble back in 2011-2012) and Pharmacia-Upjohn over the past decades also. Pfizer bought a real tar baby with Hospira. Now Pfizer is starting to get alot of FDA regualtory complaince attention in the context of having to address repreat manufacturing deficiencies - what brought down Hospira in the first place.
Pharrma companies that are slapped with Consent Decrees often find themselves targets for take-over. e.g., Warner-Chilcott (1995 Consent decree) taken over by Pfizer, Schering-Plough (2003 Consent decree) taken over by Merck, Genzyme (2009 Consent decree) taken over by Sanofi, Ben Venue Labs div of Boehringer Ingelheim (2013 Consent decree) acquired by Hikma . Abbott (2001 Consent decree) and GSK (2006 Consent decree) survived intact but both bled out of big $ (GSK paid $600mil in fines)
It's a double-edged sword. The consent decrees can go both ways. Pharmaceutical cos with under consent decrees become takeover targets due to perceived financial or operational weaknesses, OR may become attractive after successfully cleaning up their operations. Takeovers seen in Warner-Chilcott by Pfizer, Schering-Plough by Merck, Genzyme by Sanofi, Ben Venue Labs by Hikma, for example. I wonder if the giants are working under the table with the regulators to deploy these consent decrees, and weaken their targets and crater their share prices.
It doesn't work that way. These firms are in the hottest of water when they recieve Consent decrees for manufacturing compliance failures. $15K/day fines until the problems are solved. Abbott survived its CD in part because they were sole providers at the time of certain types of unversally used disposable medical equipment (e.g., syringes, tubing, dressings, etc.). GSK survived in part becuse they moved high value sterile injectible products out of the Puerto Rico facility where the offending solid oral dose products were being manufacured (I was part of a team of ~ 120 consultants sent there to effectively baby sit production and oversee the documentation generated for each batch of product released.) GSK eventually shut the facility down.
CDs do tend to depress company values and stock prices, and tey ecom take over targets. Vultures like Pfizer have a habit of snatching up distressed properties
Interesting info👌