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Transaction expected to close early this year
Colorcon, a pharmaceutical film coating company, has agreed to obtain Airnov Healthcare Packaging, who specializes in controlled atmosphere packaging, which is a process intended to protect products from moisture and oxygen. The deal, which is currently under review, could close during Q1 2023.
With manufacturing facilities in the US, China, and India, Airnov provides healthcare industries with high-quality products, integrated desiccant systems, and plastic bottles containing oxygen barrier materials.
"The acquisition presents a good match for our companies, as a key strength of Colorcon is the breadth of customer relationships across the pharmaceutical industry, including contacts at all levels in R&D, supply chain, and procurement,” says Simon Tasker, CEO of Colorcon. “The addition of Airnov would be complementary to Colorcon's portfolio and provide synergies in terms of technical, customer, and regulatory support to accelerate our customers' product development and commercialization."
Read more about the acquisition here.