Enters new pharmaceutical application areas
Evonik Industries formally acquired the Resomer business of Boehringer Ingelheim today (1 March).
The German pharmaceutical firm has transferred its portfolio of standard and customised polymers used in medical applications and pharmaceutical formulations to Evonik’s Pharma Polymers Business Line. Based on lactic and glycolic acids, these polymers are biodegradable in the body.
The companies have agreed not to disclose details of the purchase price.
Klaus Engel, chairman of Evonik Industries, said: ‘This transaction strengthens our position as a strategic partner to the pharmaceuticals industry. We view the pharmaceuticals market as a strategic core business in which we’ll continue to grow, both organically and through acquisitions.’