Complements Colorcon's Suglets product line
Colorcon has acquired a pharmaceutical sugar spheres product line from Paulaur, a manufacturer of speciality sugar-based ingredients located in Cranbury, New Jersey, in the US.
Colorcon said the addition of the Paulaur products complements its Suglets sugar spheres product line and enhances the firm's position as a leading global supplier of sugar spheres for the development of multiparticulate dosages. The agreement is specific to Paulaur sugar spheres sold into the pharmaceutical and nutritional segments globally.
No financial information has been released.
Colorcon provides speciality excipients for pharmaceutical and nutraceutical applications worldwide, and has identified strong synergies between its multiparticulate and film coating businesses. The firm says its range of immediate, delayed and extended release coatings and previous investment in the multiparticulate business position it to serve pharmaceutical and nutraceutical spheres customers.
Pankaj Rege, General Manager for Colorcon Manufactured Products, said there is strong demand in the industry for a supplier which offers high quality product, application and formulation support with a multi-facility business continuity plan.
'This acquisition complements Colorcon’s existing investment in its people, capabilities, and organisation, which have consistently delivered superior products and services to Colorcon’s pharmaceutical and dietary supplement customers,' he said.
Mitchell Stefaniak, Vice President and Chief Financial Officer of Paulaur, said the firm had decided to leave the pharmaceutical and nutraceutical spheres area to concentrate on its fast-growing food and confectionery business.
Martti Hedman, Colorcon’s Chief Executive added: 'Paulaur’s pharmaceutical sugar spheres business is an exciting strategic acquisition for Colorcon. This announcement comes at the end of another strong year for us, with growth across all business areas.'
Colorcon provides a full range of products and services for solid oral dosage formulations and continues to see growth in multiparticulate dosages forms, especially for geriatric and paediatric populations.