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Evonik acquires LACTEL® medical biodegradable polymer business for $15 million

 Last Update: 2022-08-26
 Source: Internet
 Author: User

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Evonik recently signed an agreement to acquire the LACTEL® medical biodegradable polymer business of DURECT for US$15 million

"The acquisition of the LACTEL® business will not only contribute to the innovative growth of the healthcare business, but will also further strengthen Evonik's position as the world's leading provider of custom pharmaceutical contract development and manufacturing (CDMO) in drug delivery solutions

“It is an honor to work with the passionate and talented LACTEL® team

"Despite the travel restrictions and other challenges posed by the Covid-19 pandemic, we were able to negotiate and finalize the terms of the acquisition very efficiently via videoconferencing

In addition to being widely used as functional pharmaceutical excipients to control the release of parenteral drugs, poly(lactide-co-glycolide) (PLG or PLGA) polymers can be used to manufacture orthopaedic, cardiovascular and wound healing Bioabsorbable implantable medical devices for other applications

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