Corning and SGD Pharma announce joint venture to open new glass tubing facility and expand access to Corning® Velocity® Vial technology in India
The collaboration will enable faster, more efficient delivery of vital medicines and help support India’s growing pharmaceutical industry
CORNING, N.Y., June 08, 2023 (GLOBE NEWSWIRE) -- Corning Incorporated (NYSE:GLW) and SGD Pharma today announced a joint venture that includes the opening of a new glass tubing facility to expand pharmaceutical manufacturing in India and allows SGD Pharma to adopt Corning’s Velocity® Vial technology platform.
Combining SGD Pharma’s vial-converting expertise with Corning’s proprietary glass-coating technology, the collaboration will enhance vial quality, improve filling-line productivity, and speed the global delivery of injectable treatments. SGD Pharma and Corning have broken ground on a new pharmaceutical glass tubing facility in Telangana, India. Together, the two companies will help drugmakers respond to increasingly complex capacity and quality issues while meeting global demand for critical medicines.
“The partnership with Corning represents yet another step in our strategy to advance converting technology in the pharmaceutical industry and secure our supply chain. The introduction of Velocity Vials will contribute to the ongoing evolution of our offerings and services and will expand our portfolio of high-quality tubular glass packaging,” said Olivier Rousseau, CEO SGD Pharma. “We see an opportunity for the industry to improve drug filling quality and performance capabilities by transitioning to Corning’s coated vial technology.”
SGD Pharma joins a growing network of leading primary-packaging manufacturers adopting Corning’s cutting-edge coating technology. The joint venture expands Velocity Vials’ manufacturing footprint, localizes its supply chains in India, and enables easier adoption of the technology by customers.
“Corning is advancing pharmaceutical glass technology to help our customers address their most pressing challenges – globally and locally,” said Ron Verkleeren, senior vice president and general manager of Corning’s Life Sciences Market Access Platform. “The joint venture with SGD Pharma supports our continued global expansion as we localize manufacturing for our customers. The collaboration also strengthens our leadership position in the industry and underscores our commitment to India’s high-growth market.”
Manufacturing of Velocity Vials at SGD Pharma’s facility in Vemula, India, is expected to begin in 2024. Pharmaceutical tubing production is expected to begin in 2025.
Learn more about Corning’s Velocity Vial technology platform here.
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For a complete listing of risks and other factors, please reference the risk factors and forward-looking statements described in our annual reports on Form 10-K and quarterly reports on Form 10-Q.
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About Corning Incorporated
Corning (www.corning.com) is one of the world's leading innovators in materials science, with a 170-year track record of life-changing inventions. Corning applies its unparalleled expertise in glass science, ceramic science, and optical physics along with its deep manufacturing and engineering capabilities to develop category-defining products that transform industries and enhance people's lives. Corning succeeds through sustained investment in RD&E, a unique combination of material and process innovation, and deep, trust-based relationships with customers who are global leaders in their industries. Corning's capabilities are versatile and synergistic, which allows the company to evolve to meet changing market needs, while also helping its customers capture new opportunities in dynamic industries. Today, Corning's markets include optical communications, mobile consumer electronics, display, automotive, solar, semiconductors, and life sciences.
About SGD Pharma
SGD Pharma (www.sgd-pharma.com) is a global producer of molded and tubular glass for the pharmaceutical primary packaging Industry. Building on over a century of expertise, we provide exceptional quality packaging solutions dedicated to parenteral, oral, and nasal products for every therapeutic application. Our worldwide clients are supported by more than 90 agents and distributors and benefit from ongoing innovation at our five best-in-class ISO 15378 certified, GMP compliant manufacturing plants, giving truly global supply chain infrastructure.
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jean-pascal.marquie@sgdgroup.com
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