Aptar breaks into injectable delivery with Stelmi buy
pharmafile | June 8, 2012 | News story | Manufacturing and Production | Aptar Group, AptarPharma, Stelmi
Packaging specialist AptarGroup has reached a €165 million ($207m) deal to acquire France’s Stelmi, which specialises in elastomeric components for injectable drug delivery such as stoppers, syringe plungers and needle guards.
AptarGroup currently focuses on dispensing systems such as nasal pumps, sprays and metered dose inhaler products, so adding Stelmi will boost its presence in the injectable drug sector. The cash deal is expected to close in the third quarter of this year.
Stelmi had revenues of around €83 million last year, with 70% of its turnover coming from Europe, while Aptar’s sales came in at €1.8 billion, with Europe accounting for 57% of that total.
Approximately a quarter of Aptar’s revenues – and more than half its profits – come from its AptarPharma division.
Aptar has been saying for some time it wants to grow its business in the biopharma sector, and identified Stelmi as a key, growing player in the injectable $10 billion-plus global delivery device market.
Elastomeric components represent around $1.5 billion of that market, and are growing fast on the back of the expansion of the biologic drug market.
The French company operates two manufacturing plants located in the Normandy region of France near Aptar’s existing pharma facilities, and also has an R&D centre located near Paris. It produces ready-to-sterilise and ready-to-use products, as well as ultra clean finishing services.
Steve Hagge, AptarGroup’s chief executive, said that the Stelmi deal fits in with the company’s strategy to broaden its technology portfolio and expand geographically so it can be closer to its customers.
“With the strong innovation cultures of both companies, and potential to leverage Aptar’s broad geographic presence and commercial strength, we are excited about the growth potential for Stelmi,” he said.
Phil Taylor
