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LGM Pharma, a global leader in Active Pharmaceutical Ingredient (API) sourcing, distribution and supply chain management, has acquired the pharmaceutical formulation development and drug product contract manufacturing business of Nexgen Pharma.
The transaction combines LGM Pharma’s expertise in the worldwide sourcing and distribution of APIs with Nexgen Pharma’s comprehensive drug product contract development and manufacturing services.
The combined firm has the comprehensive capabilities needed to help pharmaceutical and biotechnology customers accelerate and optimize the new product pathway, from early R&D and clinical development through manufacturing, regulatory submission, commercialization and distribution.
The acquisition brings Nexgen’s facilities and employees in California, Texas and Colorado to LGM Pharma. In all, LGM Pharma is gaining 150 employees and more than 100,000 square feet of fully equipped facilities, along with expertise in all aspects of pharmaceutical finished product development and manufacturing.
Prasad S. Raje, PhD, CEO of LGM Pharma, commented, “This is a transformational acquisition that allows us to greatly expand the services we provide to a substantially enlarged customer base. LGM is committed to significant investment in both infrastructure and personnel as part of this acquisition, and with the current challenges facing the industry, the timing for adding U.S.-based drug product manufacturing capacity is ideal”
Financial terms were not disclosed.