Capsugel to Buy Bend Research to Expand Bioavailability Offering
The takeover – financial terms of which were not disclosed – will add Bend's technologies, including its solid dose dispersion platform, to Capsugel's technology offering for the production of oral drugs.
Amit Patel, President of Capsugel DFS, told in-Pharmatechnologist.com that: "One of the many attractions for us to Bend Research was our complementary set of technologies and capabilities, and the people behind them. We expect the staff will integrate and continue to work at what they do best on behalf of customers.
"In terms of facilities,Bend Research already had plans in place to expand capacity for commercial manufacturing and we expect that this transaction may provide opportunities to accelerate that game plan.
He added that: "The completion of this transaction is subject to customary closing conditions including approval from regulatory authorities, and is expected to occur within the next 30 days."
Post Pfizer phocus
The Bend acquisition and focus on dosage forms is in keeping with the strategy Capsugel has followed since it was sold by US drug giant Pfizer to investment group KKR for $2.4bn in 2011.
Capsugel set up the DFS unit in February 2013 explaining that the idea was to provide biovailability enhancement services to pharmaceutical firms developing poorly soluble drugs.
in-Pharmatechnologist.com met Capsugel at Interphex in New York earlier this year - shortly after its acquisition of Encap Drug Deleivery – where it told us it planned to continue to expand the new unit business through other similar acquisitions. The purchase of Bend is clearly a continuation of this process.
Capsule consolidation
The acquisition also fits with the wave of consolidation deals currently sweeping the drug capsule sector.
In January for example Japan's Mitsubishi Chemical Holdings announced plans to buy Qualicaps for t $654m (€495m) citing the firm's 20% share of the global marketing and "dominant position in the non-gelatin hypromellose capsules (HPMC)” as the key motivation.
More recently contract manufacturing organisation (CMO) Patheon signed a definitive agreement to buy softgel capsule specialist Banner Pharmacaps.
That deal, valued at around $255m, was designed to further expand Patheon's capsule offering and build on the partnership it established with Colombian capsule maker Procaps.
