NextPharma sells Bioserv but is on the look of for US acquisitions
The UK-based firm said the divestiture –terms of which were not disclosed – fits with its focus on core products, including oral and topical hormones, penicillins, cephalosporins, pellets, conventional solid dosage forms, and non-sterile liquid and semi-solid dosage forms.
NextPharma spokesman Alan Dodsworth told Outsourcing-pharma.com “Bioserv provides Phase I and Phase II fill-finish manufacturing for sterile products whereas NextPharma focuses on product development and commercial-scale manufacturing for non-sterile products.”
But despite the sale NextPharma still plans to try and attract US customers according to Dodsworth, who said the firm’s “commercial strategy is to further penetrate the US market and to develop strategic partnerships with US-based customers through increased sales and marketing activity in the US, selling our existing capabilities in Europe.
He added that: “Bioserv has circa 35 employees. It is NextPharma’s understanding that KESA Partners intends to retain the existing staff.”
At first glance NextPharma’s sale of San Diego, US-headquartered Bioserv does not fit with the plan NextPharma outlined when it was acquired by US investment group Sun Capital Partners in January 2011.
At the time Matthias Gundlach, VP of Sun European Partners said: “NextPharma is well positioned to benefit from the changing face of the drug industry…It provides a good foundation from which to build the business organically and by acquisitions.”
But the sale does not signal a change of strategy according to Dodsworth, who said that the UK contract manufacturing organisation (CMO) “continues to evaluate acquisition opportunities in the US that are consistent with the strategy of focusing on core specialty and conventional products and technologies.”