BioMarin Agrees to Acquire Biologics Manufacturing Plant in Ireland from Pfizer for $48.5M

BioMarin Pharmaceutical Inc. BMRN announced today that it has entered into a definitive agreement to acquire a bulk biologics manufacturing plant from Pfizer, located in Shanbally, Cork, Ireland. The plant, which was completed and validated in 2009, is built on ten acres occupying 133,000 square feet of floor space. It was approved by the Irish Medicines Board in 2010. The purchase price is $48.5 million, approximately one-fifth of the expected cost to construct and validate a new facility. The purchase is expected to close in the third quarter of 2011 following the wind down of current operations and the transfer of the Irish EPA license.