OTS - LTS takes next step in its Growth Journey with the acquisition of Tapemark Inc.
2022. August 22. 12:00
Andernach, Germany, 22 August, 2022 (APA/OTS) - LTS LOHMANN
Therapie-Systeme AG ("LTS") announces the closing of the
acquisition of Tapemark Inc. ("Tapemark") located in St. Paul, MN,
USA. This acquisition combines Tapemark, a world-class CDMO
specialized in transdermal drug delivery systems and oral thin
films as well as unit dose semi-solid drug and iontophoresis
products with LTS, a leading pharmaceutical technology company that
develops and manufactures innovative drug delivery systems such as
Transdermal Patches ("TTS"), Oral Thin Films ("OTF") and Micro
Array Patches (MAP) for major Bio- /Pharmaceutical, Generic, and
Consumer Health companies.
With the acquisition, Tapemark´s St. Paul facility will become
part of the worldwide operations network of LTS, along with LTS'
existing facilities in Andernach, Germany and West Caldwell, NJ in
the US.
Bas van Buijtenen, CEO of LTS, commented, "We are very pleased
to welcome the Tapemark team to the LTS family. This strategic
acquisition demonstrates our commitment to continue to set the
standard as the best CDMO in TTS and OTF and to strengthen our
footprint in the US, the world's most important pharma market. We
will offer an even more complete portfolio of drug delivery
expertise and expanded manufacturing capabilities to our customers
and their patients, and we are excited to welcome Tapemark's
customers to LTS' global network. The acquisition strengthens our
R&D capabilities in North America, allowing us to bring ever more
innovation and development support to players developing innovative
therapies and new drug delivery systems. With that, we're even
better positioned to address our customers' desire for a single
partner to support them from feasibility through commercialization.
We are particularly pleased that such a talented team is
joining our organization. I am delighted that Beau Garrett will be
strengthening our Global Leadership Team in the role of SVP
Strategy and Corporate Development. His track record as a leader
successfully driving growth will bolster our LTS Growth Journey."
Beau Garrett, CEO of Tapemark, noted, "Joining LTS strengthens
our ability to craft the best product development and manufacturing
strategy to deliver complex drugs for our customers who ultimately
bring these to market and help patients around the world. Having
spoken to our customers, I know they are excited to benefit from
the breadth of LTS's global technology portfolio, its product
development capabilities, and the vast global network. Together, we
will reach more pharmaceutical partners and ultimately help more
patients. Personally, I am pleased our executive team is joining
such a strong team at LTS. From the day I met Bas and several of
the senior leaders at LTS, I knew this was the right fit for both
companies, our employees, and our customers."
The transaction has obtained the necessary regulatory approvals
and has closed as of August 19, 2022. Financial details of the
transaction are not disclosed. Bourne Partners served as the
exclusive financial advisor to Tapemark.
About LTS:
LTS LOHMANN Therapie-Systeme AG is a leading pharmaceutical
technology company that develops and manufactures innovative drug
delivery systems such as Transdermal Patches ("TTS") and Oral Thin
Films ("OTF") for the pharmaceutical industry. LTS maintains its
leading position through the continuous refinement of its core TTS
and OTF technologies and by advancing emerging drug delivery
technologies, including Micro Array Patches (MAP) for the
transdermal delivery of large molecule, biological actives and
vaccines. Founded in 1984, LTS operates today from three sites: in
Andernach, Germany, West Caldwell, NJ, USA and St. Paul, MN, USA.
LTS has also a representative office in Shanghai, China.
Contact: Dr. Iris Schnitzler
Phone: +49 (0) 2632 99 - 2589
E-mail: iris.schnitzler@ltslohmann.com
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