As these companies grow, they seek to become more global. Several are anticipating their first FDA approvals. Vetter (Ravensburg, Germany) and Haupt have established a sales presence in the US. Nextpharma (Send, England) made its first US acquisition last year (Bioserv, San Diego), and European CMOs are expected to be among the bidders for Catalent's parental facility in North Carolina.

Japan is another target. Haupt acquired a parenteral facility in the city of Toride. Catalent has operated a softgel facility there for some time, and others, including Vetter and Patheon (Mississaugua, ON), have a sales presence there.

The European dose CMO sector overall appears to be vibrant. The big question is whether it can stay on this path. Some companies will be challenged to replace the legacy businesses they have acquired. And competition from Eastern Europe and Asia—as well as from those companies selling excess capacity—isn't abating. Market leaders will have to work hard to consolidate recent gains.