Evonik & Boehringer Ingelheim Sign Agreement on the Sale of Resomer Business
Evonik Industries and Boehringer Ingelheim Pharma GmbH & Co. KG recently signed an agreement on the sale of the Resomer® business to Evonik. The completion of the transaction is subject to various conditions and closing is expected in early March 2011.
Under the agreement, the entire product portfolio of standard and customized polymers used in the manufacturing of medical devices and pharmaceutical formulations will be transferred to Evonik. Based on lactic and glycolic acids, the Resomer polymers are fully biodegradable in the body. The addition of this polymer platform and associated application areas will complement the EUDRAGIT® business of Evonik, a leader in functional excipients for oral dosage forms, and will strengthen Evonik’s pharmaceuticals market segment in line with its stated strategic intent. Both companies agreed not to disclose information on the sale price.
“By acquiring the Resomer business, we are strengthening our position as a strategic partner and solution provider to the pharmaceutical industry,“ said Dr. Klaus Engel, CEO of Evonik Industries AG. “This affords us the opportunity to service new pharmaceutical application areas and achieve greater value creation and growth.”
“In Evonik, we are convinced we have found a company that acts responsibly and will succeed in further developing the Resomer business according to clear strategic objectives,” added Prof. Dr. Wolfram Carius, member of the Board of Managing Directors of Boehringer Ingelheim responsible for operations.
Evonik intends to use the acquisition of the Resomer pharmaceutical biodegradable polymers to strengthen its position as a formulation solution provider to the industry. Biodegradable polymers are used, for example, in cancer treatment for depot formulations containing peptide active ingredients. These formulations ensure a therapeutic effect for up to 6 months. The lactic acid polymers are also used in the manufacturing of surgical screws, nails, and plates. The advantage is that these biodegradable devices disintegrate after a defined life-span in the body without a negative impact, making further surgery to extract them unnecessary. Additionally, Resomer polymers make it possible to imbed APIs, such as growth factors or antibiotics to support the healing process.
The pharmaceutical industry favors the use of biodegradable polymers for the formulation of innovative drugs based on biotechnological active ingredients. While the growth of the entire pharmaceuticals market stagnated, the biotechnological active ingredients market has shown significant growth. With the new Resomer platform, the Pharma Polymer Business Line of Evonik is now equipped to enter the dynamic growth market of biotechnological active ingredients.
Evonik’s Pharma Polymers Business Line develops, produces, and markets functional polymethacrylates for pharmaceutical formulations. Through its EUDRAGIT brand in particular, Pharma Polymers has a leading position in the global market of pharmaceutical excipients.
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