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The acquisition gives LGM access to Nexgen’s manufacturing and warehouse distribution facilities and a pilot plant.
LGM Pharma, a contract development and manufacturing organization (CDMO) located in Erlanger, KY, announced on July 27, 2020 that it has acquired Nexgen Pharma, a drug product contract manufacturing company headquartered in Irvine, CA.
According to an LGM press release, the acquisition gives LGM access to Nexgen’s manufacturing and warehouse distribution facilities as well as employees in California and Texas. LGM also gets a formulation development, laboratory, and pilot plant manufacturing facilities in Colorado, along with related personnel. The company will now have more than 100,000 ft2 of facilities and a total of 150 experienced employees.
“This is a transformational acquisition that allows us to greatly expand the services we provide to a substantially enlarged customer base,” said Prasad S. Raje, PhD, CEO of LGM Pharma, in the press release. “As part of our continued growth and diversification strategy, 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 US-based drug product manufacturing capacity to LGM is ideal. Our complementary pharmaceutical capabilities and shared commitment to innovation, quality, and customer service will drive a vibrant and growing business that sets new standards for leadership in the pharmaceutical sector.”
“We are proud of the pharmaceutical CDMO business our family and talented employees built over many years and are delighted the business has been acquired by LGM Pharma, which is an ideal partner to carry on our tradition of quality and service while expanding the range of capabilities and services for our respective customers,” said Kyle Brown, CEO of Nexgen Pharma, in the press release. “This divestiture will allow us to focus on our other healthcare segments while our pharmaceutical CDMO employees and facilities become part of a highly supportive and synergistic organization.”
Source: LGM Pharma