To strengthen biodegradable polymers business Evonik announced to acquire the LACTEL from DURECT Corporation for $15 million. The acquisition of the Lactel business will strengthen both innovation growth in the field of Healthcare Solutions and Evoniks position as a globally leading CDMO for drug delivery solutions.
- Poly(lactide-co-glycolide) (PLG or PLGA) polymers are widely used as a functional excipient to control the release of parenteral drug products.
- They are also utilized to control the biodegradation of implantable medical devices across various orthopedic, cardiovascular, wound healing and other applications.
- RESOMER® and LACTEL® are two of the most preferred brands of standard and custom PLGA polymers.
The prominent acquisitions and expansion by Evonik are mentioned below:
Oct 2020: Evonik announced that Evonik Venture Capital has sold its stake in Synoste Oy to U.S. based Globus Medical. Evoniks four-and-a-half-year partnership helped in the development of Synostes technology for orthopedics and giving Evonik further insights into the medical applications market for its high-performance polymers.
Aug 2020: Evonik is acquiring the Texas based Porocel Group for approximately US$210 million. The acquisition of Porocel accelerates the growth of its catalysts business of Evonik.
May 2020: Evonik announced an exclusive agreement with Glenn Corporation a division of Azelis Americas. As per agreement Glenn will distribute the product protection line by Evoniks Dr. Straetmans brand in the United States. The Evonik Dr. Straetmans product range includes multifunctional antimicrobials and preservative blends, antioxidants and chelating agents.
February 2020: Evonik had announced the acquisition of Princeton based Wilshire Technologies, a leading supplier of phytochemicals and derivatives to the global cosmetic and pharmaceutical industries. The transaction also includes Wilshire Technologies employees, and cosmetic active ingredients portfolio.
February 2020: Evonik had closed the acquisition of the US company PeroxyChem for US$640 million. PeroxyChem is a leading manufacturer of hydrogen peroxide (H2O2) and peracetic acid (PAA) and is well-positioned in high-margin specialty applications.
Evonik, headquartered at Essen, North Rhine-Westphalia, Germany, is one of the worlds leading specialty chemicals companies. The company is operating in more than 100 countries, and employing approximately 36,000 people across the world. The companys product makes tires fuel-efficient, mattresses more elastic, medications more effective, and animal feeds healthier. Evonik, provides biomaterials for use in medical implant applications.