NORTH NORWICH – The president of Norwich Pharmaceuticals, Christopher R. Calhoun, said he has “strong confidence” that an unnamed entity will be buying the long-standing local manufacturer from its former parent, Outsourcing Services Group, within the next two months.
A media announcement made public Friday stated that management of Woodcliff Lake, N.J.-based Outsourcing Services Group had decided to exit the pharmaceutical outsourcing businesses. OSG purchased Norwich Pharmaceuticals, formerly Procter & Gamble Pharmaceuticals, when Cincinnati-based P&G spun off its manufacturing operations here in 2001. The company currently employs about 400 full-time and is one of Chenango County’s largest employers.
“Since its acquisition by OSG, Norwich Pharmaceuticals has met with substantial business success, growing new business opportunities, growing its full-time employee numbers and adding new customers to the business portfolio,” the announcement said. “All of this success has led to significant interest in the business community in acquiring the business.”
Officials from OSG did not respond to a telephone call for comment. The company is a leading global supplier of outsourced manufacturing and packaging services for the health care, cosmetics, personal care and household markets. It maintains operations throughout North America and employs approximately 2,300.
Calhoun, who became Norwich Pharmaceuticals’ chief officer in 2005, said negotiations with prospective buyers have been ongoing since April. He would not comment on their profile.
“We really do see this as a positive thing for the future,” he said. No changes in product lines, quantities, management nor employees are anticipated.
“Every existing customer and every project is moving forward full speed ahead. We are expecting full continuity,” he said.
Calhoun noted that the potential buyers “deeply respect what we have accomplished here and are looking to Norwich’s existing leadership team to expand our services and capacity. Our customers can count on Norwich to continue to serve them with excellence, and our employees can count on an exciting future with continued opportunities to service the global pharmaceutical market.”
Commerce Chenango President Maureen Carpenter said she was made aware of the pending business transaction via a press release on Friday. “We will do everything that we can to make the new owners welcome and will work with them to ensure that they are aware of any benefits that may be available to assist them in the transition,” she said Monday.
Norwich Pharmaceuticals is an outsourcing manufacturer and packager of solid dose, non sterile liquid, non sterile semi-solid, and hydrophilic polyurethane sponges. It offers a separate clinical suite to an independent HVAC and DI water system, in addition to several areas designed for solid dose products that require containment and isolation and for dry and wet granulation manufacturing.
In addition to the long-term supply agreement to produce prescription products for Procter & Gamble Pharmaceuticals, Norwich Pharmaceuticals has more than 20 customers on its roster, including specialty and generic pharmaceutical companies.