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Deal allows for bicoastal expansion of pharmaceutical services
Recro Pharma, Inc., a Pennsylvania-based contract development and manufacturing organization (CDMO) that works with oral solid dose drug product developers, has acquired IRISYS, another CDMO that reportedly complements Recro’s capabilities. The deal is for approximately $50 million. With the IRISYS acquisition, Recro expands into a full-service CDMO with operations on both US coasts, and, according to the company, is now able to provide its global client base access to offerings spanning from pre-investigational new drug (IND) development to commercial manufacturing and packaging for a wide range of dosage forms.
The skillsets of California-based IRISYS revolve around the biopharma industry, ranging from formulation development to commercial manufacturing for various dosage forms consisting of oral liquids, sterile injectables, tablets, topicals, liquid/powder filled capsules, ophthalmic droppers, liposomes and nano/microparticles.
“... The joining of these two companies creates an organization that is ideally positioned to achieve Recro’s previously disclosed four-pronged strategy for growth, which includes strengthening the organization’s leadership and talent, expanding and diversifying our client base, fortifying our financial position, and enhancing our capabilities and competencies,” says David Enloe, president and CEO of Recro. “Adding the personnel, facilities, capabilities and global customer base of IRISYS advances each of these goals and positions Recro for sustainable, profitable growth moving forward."