Germany’s LTS Lohmann Buys US CDMO Tapemark
Germany’s LTS Lohmann Therapie-Systeme has completed the acquisition of St. Paul, Minnesota-headquartered CDMO Tapemark, a US specialist in transdermal drug delivery systems, oral thin films and unit dose semi-solid drug and iontophoresis products.
Financial terms of the transaction were not disclosed.
LTS, which specializes in development and manufacture of drug delivery systems such as transdermal patches (TTS), oral thin films (OTF) and Micro Array Patches (MAP) for major pharmaceutical, generic, and consumer health companies, plans to integrate the US firm into its worldwide operations network, which includes production facilities in Andernach, Germany, and West Caldwell, New Jersey, USA.
Commenting on the buy, Bas van Buijtenen, CEO of LTS, said the strategic acquisition “demonstrates our commitment to continue to set the standard as the best CDMO in TTS and OTF and to strengthen our footprint in the US, the world’s most important pharma market.”
Adding Tapemark, Van Buijtenen said, will allow the German company to offer “an even more complete portfolio of drug delivery expertise and expanded manufacturing capabilities to our customers and their patients.”
The acquisition also strengthens the German company’s R&D capabilities in North America and will allow it to bring additional innovation and development support to players developing innovative therapies and new drug delivery systems, the CEO added.
Author: Dede Williams, Freelance Journalist
