Adragos Pharma acquires Clinigen’s development unit, Lamda Laboratories
- Acquisition strengthens Adragos end-to-end integrated service offering within the pharmaceutical product development segment
- Agreement includes further product development activities for Clinigen Limited
- Lamda spurs further growth for Adragos as its 3rd site in Europe, and 5th globall
Munich / London / Athens, March 20, 2023 – Munich-based pharmaceutical contract development organization (CDMO) Adragos Pharma GmbH has signed a definitive agreement with global pharmaceutical services company Clinigen Limited to acquire Lamda Laboratories S.A. in Athens. Truist Securities acted as exclusive buyside financial advisor to Adragos Pharma GmbH. The acquisition of Lamda Laboratories significantly expands Adragos’ pharmaceutical product development, regulatory affairs and supply chain management services for its global pharmaceutical customers.
Lamda has not only acted as Clinigen’s sole development center but has also established a well earned reputation as a highly reliable contract development organization (CDO) for third party customers. Under a pharmaceutical development services agreement, Lamda will continue to provide services for Clinigen Limited.
The Athens site, a mere 15 minute drive from the airport, is fully equipped with state of the art equipment including the handling of potent drugs, established Quality systems and a proven track record of delivering complex developments on time for customers.
A highly experienced management team and well-trained staff will continue to focus on complex product development for growing markets in Europe, Japan, and North America. Lamda will offer an expanded range of pharmaceutical development, regulatory affairs and supply chain management services for a wide range of dosage forms including complex and high potent oral solids, differentiated oral liquids, injectables and topical medicines. As part of the transaction, Adragos secures royalty streams for products stemming from previous co-developments.
David Bryant, Interim CEO of Clinigen Limited states: “We are pleased to have found in Adragos Pharma a trusted partner to build on the success story of Lamda with its great team taking it to the next level while also continuing to support Clinigen as we focus on providing high-value services to the biopharma industry.”
Dr. Andreas Raabe, CEO of Adragos Pharma, commended the “impressive track record and professional service mindset at Lamda”. He noted that “Lamda combines differentiated product development capabilities with substantial scale, an essential combination for our international group.”
The exact terms of the transaction will not be disclosed. Completion of the transaction is subject to customary conditions precedent.
About Adragos
Adragos Pharma is a globally operating CDMO with headquarters in Munich, Germany. Its declared goal is to expand its existing production network through acquisitions in Europe, North America, and Japan to attain a globally leading position within the next few years and set new standards in customer service and data centricity. In its buy-and build growth strategy, Adragos Pharma is supported by FSN Capital, a leading Northern European private equity firm, and Prange Group, a diversified leading German family office. Adragos Pharma currently operates four production sites in France, Germany, and Japan. www.adragos-pharma.com
About Clinigen
Clinigen is a global, specialist pharmaceutical services company focused on providing ethical access to medicines. Its mission is to deliver the right medicine to the right patient at the right time. The Group supports pharmaceutical and biotech companies across the medical product lifecycle, from clinical through to commercial and operates from sites in North America, Europe, Africa and the Asia Pacific. Clinigen has more than 1,000 employees across five continents in 15 countries, and provides access in more than 120 countries every year. For more information on Clinigen, please visit: www.clinigengroup.com
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