A Europe-based, multinational pharmaceutical and biologics company was in the process of reviewing the usage of a Scandinavian plant and related equipment. Originally opened in the mid-1990s, the plant had served as an important facility for the company’s R&D efforts around anti-viral drug development. However, much of the specialized equipment in the facility had been idle and did not support the company’s research roadmap. In order to minimize its expenditures and maximize asset utilization, the management team at the pharmaceutical leader determined that the equipment should be disposed of.
The R&D equipment was out-of-date by most industry standards, and the company thought it may be forced to salvage these capital-intensive assets. Fortunately, the company chose to approach Liquidity Services and its leading asset disposition team. As the company began the process, it ultimately decided to implement cost-cutting measures and close the plant altogether, increasing the importance of the equipment removal plan. Liquidity Services’ team utilized its leading online marketplace for commercial asset auctions and management, GoIndustry DoveBid, to promote and sell the equipment in a transparent manner, which included:
- Preparative chromatography unit (with SMB Unit, solvent tanks and recovery system)
- Pressure filters
- Centrifuges & cone dryers
- Reactor vessels
- Glass lined tanks and vessels
- Glove box isolator
Liquidity Services was able to successfully sell the majority of the designated equipment and return over $1.1 million in value to the client, even though the specialized equipment did not serve the current needs of many companies in the pharmaceutical industry. However, in tapping its large base of qualified buyers around the globe and biopharma industry expertise, Liquidity Services sold the assets individually and in packages in order to gain the greatest return for the client. Through a comprehensive process during a changing time for the pharmaceutical company’s European plant, Liquidity Services was able to recover value for the client, assisting it in its strategic roadmap.