Capsugel on the acquisition trail once again
pharmafile | September 10, 2013 | News story | Manufacturing and Production |Â Â Bend Research, CapsugelÂ
Capsugel has agreed to buy US company Bend Research in another transaction that expands its drug delivery division.
The deal will see Bend Research become part of Capsugel’s Dosage Form Solutions (DFS) unit, which was set up in February to oversee the company’s formulation R&D and commercial manufacturing operations. Terms of the takeover have not been disclosed.
Bend Research is Capsugel’s second acquisition since it was sold by Pfizer to private equity group KKR two years ago in a $2.38 billion deal. Earlier this year the drug delivery and capsule specialist bought Scotland’s Encap Drug Delivery, bolstering its position in liquid and semi-solid encapsulation.
Capsugel said the acquisition of Bend Research would give it an “industry leading position in bioavailability enhancement”, with expertise in spray-dried dispersion (SDD) formulations – which has been licensed on a non-exclusive basis to drugmakers including Eli Lilly and Bristol-Myers Squibb, and is used to improve the bioavailability of poorly-soluble compounds – as well as a suite of modified release, inhalation delivery and biotherapeutic processing and formulation technologies.
“We are ready to take Bend Research to the next level and the combination of our two companies is the best vehicle for helping us get there,” said Rod Ray, Bend Research’s chief executive.
“We will expand our industry-leading capability to meet low bioavailability formulation challenges; strengthen the global footprint to support customer partnerships around the world; and enhance our ability to scale-up and commercially manufacture the customer compounds we help formulate,” he added.
The transaction, which is subject to customary closing conditions including approval from regulatory authorities, is expected to close within the next 30 days.
The takeover by Capsugel will cap an extraordinary few years for Bend Research, which lost a core contract with Pfizer in 2008, until then its only customer, and has since built up a portfolio of around 50 pharma clients, while expanding into bioprocessing and commercial-scale manufacturing services.
Phil Taylor
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