Ypsomed has issued an ad hoc press release announcing its intention, as part of its growth strategy, to invest more than 100 million Swiss francs over the next four years in further expanding production capacities for its autoinjector solution mylife Loop at its Solothurn site. This move is set to create dozens of new jobs.
For this expansion, Ypsomed will use space freed up by the sale of its pen needle and blood glucose monitoring systems businesses, which have previously also been based in Solothurn. The company announced this transaction in the same press release.
The businesses are being purchased by Medical Technology and Devices S.p.A. (MDT), which is based in the Italian province of Como. “We are proud of our long tradition in the production and distribution of pen needles in over 40 countries,” says Ypsomed CEO Simon Michel, adding that, “At Ypsomed Diabetes Care, we are now fully focusing on our insulin pump solutions”.
The production equipment will gradually be moved to MDT sites from the end of 2024 to mid-2025. Ypsomed anticipates that it will be able to offer all staff working in these areas new positions within the Group. It is guaranteeing employment for temporary staff until the end of 2024.
According to the press release, there will be a transition phase during which Ypsomed will continue to produce pen needles as a contract manufacturer and provide services to ensure a seamless transfer. The sold businesses accounted for sales of 52 million francs in 2022/23 and 18 million francs in the first half of 2023/24. ce/mm
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