Deals & Cases
WuXi STA acquires manufacturing facility in Couvet from Bristol Myers Squibb
On 31 January 2021, WuXi STA, a subsidiary of WuXi AppTec, a leading pharmaceutical development and manufacturing capability and technology platform company serving the life sciences industry with global operations, whose shares are listed on the Shanghai Stock Exchange and the Hong Kong Stock Exchange, entered into an agreement with Bristol Myers Squibb, a company whose shares are listed on the New York Stock Exchange, to purchase Bristol Myers Squibb's state-of-the-art manufacturing facility with commercial-scale production capacity for capsule and tablet dosage forms located in Couvet, Switzerland.
The companies anticipate completing the transaction by Q2 2021, subject to regulatory approvals and the satisfaction of other closing conditions. Upon closing, WuXi STA will acquire the Couvet site’s operations and assets, which include the plant and equipment, as well as a workforce with technical capabilities and expertise.
Lenz & Staehelin acts as Swiss legal advisor to WuXi STA in this transaction. The team is led by partner Andreas Rötheli (co-head Corporate and M&A) and includes associates Ralph Kaufmann and Roman Graf (Corporate M&A), Cécile Vulliemin (Real Estate), Sevan Antreasyan (IP, Regulatory & Life Sciences), Sandrine Kreiner, Prisca Cattaneo and Bertrand Donzé (all Employment), and Benoît Biedermann (Tax). DLA Piper Hong Kong and New York acts as lead counsel to WuXi STA in this transaction.