NEWS
Siegfried acquires three more sites
As part of its ongoing Evolve + strategy, Swiss CDMO Siegfried has signed binding agreements with an affiliate of SK Capital Partners to acquire three drug substance sites in the US and Australia for its exclusive synthesis business. They comprise:
• Noramco, a commercial-scale manufacturing site in Wilmington, Delaware
• Purisys, a clinical API development and manufacturing facility located in Athens, Georgia
• Extractas Bioscience, a manufacturer of purified products based in Westbury, Tasmania
The company said that it plans to optimise Noramco’ s controlled substance capacity across with its own nearby Pennsville site. Collectively, these sites employ about 400 people. Their total valuation is said to be about 10 x EBITDA. Subject to customary closing conditions, the transaction is expected to close later this year.
In 2025, Siegfried subsequently reported, it delivered“ strong profitability and continued growth”. Net sales were 2.6 % up( 4.3 % up at constant exchange rates) at CHF 1,327.8 million, with 2H sales markedly higher than 1H. Core EBITDA was 9.3 % up to CHF 312.3 million, while core net profit increased to CHF 162.1 million,“ reflecting Siegfried’ s strong earnings quality and operating leverage”.
The Drug Substances and Drug Products clusters both grew at 4.3 % in local currencies and diversification in customers and products remained high. More than 90 % of revenues were derived from commercial-phase products, with about 60 % being generated from small- and mid-cap pharmaceutical companies and around 40 % from large pharma.
“ With strong commercial momentum and the strategic expansion of our US drug substance platform, we have significantly enhanced our capabilities and are well positioned to capture the long-term growth opportunities ahead,” said CEO Marcel Imwinkelried.
For 2026, Siegfried expects highsingle-digit percentage range for Drug Products but lower for Drug Substance because of uncertainty over final customer confirmation for one product. The company continues to target a core EBITDA margin above 23 %.
Stepan to close capacity
Stepan is to close its Fieldsboro, New Jersey, site in response to continued lower demand in commodity surfactants for laundry detergents. It will also decommission“ select assets” at Elwood, Illinois, and Stalybridge, UK,“ to optimise network utilisation”. All this should be completed by mid-2026.
The moves are part of Project Catalyst, a newly launched operational and efficiency plan that aims to deliver about $ 100 million in pre-tax savings over the next two years. Stepan described this as a key part of its“ commitment to optimising its global manufacturing footprint, driving shareholder returns and building a foundation for sustainable growth”.
“ Project Catalyst is designed to partially offset inflationary pressures and other headwinds, while enabling us to maintain the resources and flexibility needed to deliver exceptional service and value to our customers,” stated CEO and president Luis E. Rojo.
The operations of the affected will be consolidated into the company network. Stepan
Rojo – Project Catalyst designed to offset inflation
expects to incur $ 70-80 million in restructuring charges in 2026 from asset write-downs, decommissioning costs and other related expenses. Most of this($ 52-62 million) will be taken in Q1
This all follows on from the sale of the Philippines and Lake Providence sites at the end of 2025. Stepan added that it is continuing to evaluate additional footprint optimisation initiatives to further strengthen its competitive position.
6 SPECIALITY CHEMICALS MAGAZINE ESTABLISHED 1981