The Munich-based restructuring specialist mutares AG (ISIN: DE000A0SMSH2) has sold the pharmaceutical contract manufacturer Suir Pharma Ireland to the strategic investor Saneca Pharmaceuticals. With its second successful exit in 2015, mutares further streamlines its portfolio.
Suir Pharma Ireland (SPI) was acquired in 2012 from German STADA Group. It operates as a Contract Manufacturing Organisation (CMO) producing finished dosage formulations across a broad range of therapeutic areas for various customers worldwide and operates the only Independent Beta-Lactam FDA approved facility in Europe.
After successfully accomplishing the main challenge of making SPI a stand-alone pharmaceutical contract manufacturer, mutares has decided to sell SPI to Saneca Pharmaceuticals for an undisclosed amount. Hence, mutares continues to streamline its portfolio and to free up capacities for new transactions as the deal pipeline is very promising.
Saneca Pharmaceuticals is confident that this strategic acquisition will add significantly to the services that the Saneca Group can offer to its customers. Lubo Soltys, President of Saneca, commented: “We are delighted to have acquired Suir Pharma. We see the combined entity providing significantly enhanced pharmaceutical development capacity and tech transfer capabilities across a range of pharmaceutical forms. This will certainly provide easier access to various markets for our worldwide customer base.“
Company profile of Saneca Pharmaceuticals
Saneca Pharmaceuticals is a supplier to the global pharmaceutical and healthcare industry. Saneca develops and produces high quality pharmaceutical dosage forms, including oral solid, liquids, soft gel capsules and creams. In addition, Saneca Pharmaceuticals has a portfolio of synthetic API’s, and opiate API’s produced from plant biomass.