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Through the acquisition, Orbis will work to heighten Adare’s Pharmaceutical Technologies business, which handles the development and manufacturing of products for pharmaceutical, animal health, and over-the-counter markets.
Adare Pharmaceuticals announced on May 4, 2020 that it has acquired Orbis Biosciences, a pharmaceutical technology company based in Lenexa, KS. The financial terms of the agreement were not disclosed.
Through the acquisition, Orbis will work to heighten Adare’s Pharmaceutical Technologies business, which handles the development and manufacturing of products for pharmaceutical, animal health, and over-the-counter (OTC) markets, an Adare press release said.
“Orbis’s customized technologies are an excellent complement to our contract development and manufacturing organization (CDMO) business, which is currently focused on oral dosage forms for pharmaceutical and OTC medicines,” said John Fraher, CEO of Adare Pharmaceuticals, in the press release. “In particular, their platforms create drug particles that can be dosed in oral liquid, injectable, and otic dosage forms. These will broaden our product development offerings and ultimately, advance the growth of our CDMO business, further strengthening our leadership in taste-masking and controlled-release technologies.”
“The acquisition by Adare will globalize the reach of our technologies and services,” added Maria Flynn, president and CEO of Orbis Biosciences, in the press release. “Orbis’s focus on precision delivery solutions has enabled us to develop expertise in novel extended-release and pulsatile-release formulations and to collaborate with great partners. We are pleased to join Adare, an industry leader in drug formulation development and manufacturing.”