Capsugel to buy Bend Research

Published: 5-Sep-2013

Adding to its dosage forms business

Capsugel is to buy Bend Research of Oregon, US, to expand its Dosage Form Solutions (DFS) business, for an undisclosed sum.

The acquisition provides Capsugel DFS with Bend's technologies, including a full range of modified and targeted release solutions to develop innovative new products for its customers.


Capsugel's President and CEO Guido Driesen, said: 'We have been impressed by Bend Research’s people, achievements and technology for some time and are delighted to combine our two companies. Capsugel’s vision of being a leading provider of innovative dosage forms and solutions to its healthcare customers is significantly advanced by this transaction.'

Bend Research is a leader in bioavailability enhancement, particularly through Spray-Dried Dispersion (SDD) formulation technology. Its portfolio is supplemented by technologies to help advance compounds with a variety of delivery and development challenges, including solutions for modified release, inhalation delivery and biotherapeutic processing and formulation.

Rod Ray, CEO of Bend Research, added: 'We will expand our industry-leading capability to meet low bioavailability formulation challenges; strengthen the global footprint to support customer partnerships around the world; and enhance our ability to scale-up and commercially manufacture the customer compounds we help formulate.'

The transaction, which is subject to customary closing conditions including approval from regulatory authorities, is expected to close within the next 30 days.

The Bend acquisition and focus on dosage forms is a strategy followed by Capsugel since it was sold by Pfizer to New York-based private equity group KKR for US$2.4bn in 2011.

Capsugel also bought Scotland-based Encap Drug Delivery in March this year, for an undisclosed sum.

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