Evonik Closes Acquisition of Lactel Absorbable Polymers Product Line
Evonik has closed its acquisition of the Lactel Absorbable Polymers product line from DURECT Corporation on Dec. 31, 2020.
In a Jan 5, 2021 press release, Evonik reported the closing of its acquisition of the Lactel Absorbable Polymers product line from DURECT Corporation on Dec. 31, 2020, marking a significant step in the company’s growth agenda.
“The acquisition of the Lactel business will strengthen both our innovation growth field Healthcare Solutions and Evonik’s position as a globally leading CDMO [contract development and manufacturing organization] for drug delivery solutions,” said Johann-Caspar Gammelin, head of the Nutrition & Care Division of Evonik, in the press release.
“The integration of the Lactel business into Evonik’s market-leading portfolio of functional excipients, biomaterials, and integrated CDMO services will strengthen our position as a preferred development partner and solutions provider,” added Thomas Riermeier, head of the Health Care business line, in the press release. “By welcoming Lactel and members of their team into the Evonik family, we look forward to providing customers with even greater platform versatility as well as other value-adding services.”
All employees of DURECT associated with the Lactel business in Birmingham, AL, have agreed to join Evonik in similar roles.
Source: Evonik
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