Evonik Industries has reached an agreement to acquire the Pharmaceuticals business of SurModics, Inc. headquartered in Eden Prairie, Minnesota, USA.
Eden Prairie, Minnesota/USA – Following the acquisition of the Resomer business from Boehringer Ingelheim in March 2011, Evonik is now strengthening the formulation services business for pharmaceutical applications with the new acquisition of SurModics Pharmaceuticals. Signing took place on November 1, 2011 and the transaction is expected to close shortly.
SurModics Pharmaceuticals, Inc., an affiliate of SurModics, Inc., is a leader in injectable drug delivery systems. The new business includes two facilities for the development and manufacturing of polymers and drug delivery systems. The company is located in Birmingham (Alabama, USA) and employs, approximately 80 pharmaceutical experts. In 2010, the total revenues amounted to more than 15 million U.S. dollars.
Formulation Development and Scale-up
SurModics Pharmaceuticals designs and produces bio-resorbable polymers (marketed under the brand Lakeshore Biomaterials) and possesses expertise and facilities to carry out all phases of pharmaceutical product development up to commercial manufacturing. The business focuses on the development of injectable drug delivery systems that systemically or locally release active pharmaceutical ingredients (API) within a period of up to several months. Formulation approaches include bio-resorbable microparticles, nanoparticles, liposomes, implants and other polymer-based configurations.
“With the Lakeshore Biomaterials portfolio of polymers and associated range of established formulation development services, we acquire leading expertise and capabilities for the development and manufacturing of innovative drug delivery solutions. This is a consistent extension of our current pharmaceutical product and service platform”, emphasizes Dr. Jean-Luc Herbeaux, head of the Health Care business at Evonik.
With its Pharma Polymers product line, Evonik is a leading developer and producer of functional pharmaceutical excipients. Based on its Eudragit product portfolio, the company develops coatings and matrix systems that provide controlled release of active pharmaceutical ingredients in tablets and other oral dosage forms. In March 2011 this oral drug delivery platform was complemented with the addition of the Resomer polymers, which are used for controlled release injectables and bio-resorbable implants as well as in medical devices.