Sensient invests in pharma coating biz; H1 sales up
The US firm, a contract manufacturing organisation (CRO) that produces colours, flavours and fragrances, plans to expand the coating unit at its facility in St Louis by around 50 per cent, significantly increasing batch size.
Sensient did not respond to in-pharmatechnologist’s request for additional information about the new investment.
In a press statement, CEO Kenneth Manning described the investment as an “important opportunity to grow our pharmaceutical business,” adding that it positions the firm to win new business.
Colour business growth
Sensient’s pharmaceutical coating business comprises a range of polymer systems, several inks and colour dispersion technologies as well as a number of seals and polishes for use in tablet production.
The investment is understandable given that, for the six months to June 30, Sensient’s colour business, of which coatings is a key part, was its fastest growing unit with operating income climbing 40 per cent to $20m (€16m).
Revenue generated by the business also increased markedly in the first half of the year, growing 20 per cent to $112m with, according to Sensient, strong demand from the pharmaceutical, food and cosmetics sectors.
This performance contrasts with Sensient’s larger flavours and fragrances manufacturing business, which saw operating income slide 3 per cent to $33m in the first six months of the year.
Executive additions
In other news, Sensient revealed a number of changes to its executive board, including the election of Douglas Pepper, who has served as the firm’s CFO and vice president of administration, as its new COO.
The colour and fragrance maker has also amended its contract with Manning, securing his services as CEO until 2013, after which he will serve as a non-employee chairman.
Elsewhere, Stephen Rolfs has been elected to the position of Vice President, Administration. James McCarthy and Paul Manning become presidents of flavours and fragrances and the colour group, respectively.
