Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Spanish pharmaceutical company Hovione has announced that it is expanding its production facilities in Ireland, Portugal, and the United States. More than 300 new jobs worldwide are expected to be created. The demand for drug substance manufacturing and drug product manufacturing is growing, so the company is to invest $170 million (€155.66 million) in pharma custom development and manufacturing service business. In Portugal, Hovione is to invest in chemical synthesis operations and in the production of a new commercial spray dryer. In the United States, the company is to expand its facility in New Jersey by 2,900 square meters in two years. At the site in Ireland, it is to invest in the production of highly potent active pharmaceutical ingredients.
Hovione was founded in 1959 in Spain. The company provides services for drug substance, drug product intermediate and drug product. Hovione’s production facilities are in the United States, China, Ireland, and Portugal.
Eurofound (2021), Hovione, Business expansion in World, factsheet number 105696, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/105696.