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Roquette has agreed to acquire IFF Pharma Solutions, a producer of ingredients for oral dosage solutions, for an enterprise value of up to $2.85 billion.
IFF is a leading producer of excipients for oral dosage solutions in the pharmaceutical industry. It offers a wide range of high-quality products and serves pharmaceutical, food and nutraceutical companies worldwide.
The acquisition is said to rebalance the Roquette's portfolio around health and nutrition, expand its pharma product range and accelerate its growth. In addition, it will expand Roquette's position in the excipients market, particularly in the US, and enhance its formulation capabilities and drug delivery research and development. Roquette's CEO, Pierre Courduroux, said: “After last year’s acquisition of Qualicaps, today’s announcement is a decisive step in our journey to reinforce our position in the health and nutrition markets".
"The combination of our excipients’ expertise with IFF Pharma Solutions is a fantastic opportunity to become a true global specialist in drug delivery and oral dosage solutions. This responds to the needs of customers and patients looking for continuously better treatments. We very much look forward to welcoming IFF Pharma Solutions, and to jointly building the next chapter of our company’s growth history.”
IFF's CEO, Erik Fyrwald, added: “We are pleased to reach an agreement with Roquette that will support Pharma Solutions’ next chapter of growth as a trusted partner for the pharmaceutical industry. An important next step in our portfolio optimisation strategy, the sale of Pharma Solutions, along with other recent actions...represents a significant step towards our commitment to reducing debt leverage to 3.0x or below. This also enables us to increase focus on the core drivers of long-term profitable growth and maximise value for our shareholders."