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.
Chinese company Porton Pharma Solutions, the manufacturer of active pharmaceutical ingredients, plans to start production inLek (Novartis) and create 300 jobs in the next two years.
Porton, a supplier of pharma ingredients to Novartis, has decided to move its production closer to the buyer. For this purpose, it rents unused facilities in Mengeš from Lek, the Slovenian branch of Novartis. The investment of €50 million will serve for the establishment of laboratories and a pilot production facility. They are expected to be completed by September 2024. The Chinese company has also reserved land for eventual future expansion.
Novartis announced the sale of the Sandoz division, a manufacturer of generic drugs, in order to focus on core activities. Slovenian company Lek is a part of Sandoz but manufactures for both Sandoz and Novartis. Lek thus faces an uncertain future with the separation of Sandoz from Novartis.
According to Delo daily from 22 February 2023, the LEK management claimed the agreement was signed between Novartis and Porton.
Eurofound (2023), Porton Pharma Solutions, Business expansion in Slovenia, factsheet number 108180, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/108180.
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