Lubrizol Acquires Particle Sciences
(Thomson Reuters ONE) -
The Lubrizol Corporation
29400 Lakeland Boulevard, Wickliffe, Ohio
44092-2298
Broadens company's LifeSciences application, pharmaceutical formulation
and drug delivery capabilities
CLEVELAND, September 08, 2015 -The Lubrizol Corporation announces that it has
acquired Particle Sciences, a leading contract drug development and
manufacturing organization with a comprehensive suite of services for the
formulation, analysis and production of complex drug delivery solutions.
Headquartered in Bethlehem, PA, Particle Sciences is a global leader in complex
formulations including drug eluting device product development as well as
sterile and particulate drug products. This acquisition further expands
Lubrizol LifeSciences' pharmaceutical development capabilities, providing full
service drug delivery solutions to the market across a variety of dosage forms.
"With the addition of Particle Sciences and the recent acquisition of Vesta, we
are now able to offer customers a complete solution that is one of the most
comprehensive in the industry," stated Deb Langer, vice president and general
manager, Lubrizol LifeSciences. "Additionally, the Particle Sciences
acquisition allows us to leverage our core polymer chemistry into tailored
solutions for novel implantable and dermal drug delivery systems for improved
patient outcomes."
Lubrizol LifeSciences has significantly expanded its capabilities through new
products, state-of-the-art facilities, acquisitions and alliances. The
combination of Lubrizol's polymer expertise, Vesta's quality medical
manufacturing and Particle Sciences' leadership in drug formulation development,
allows LifeSciences to provide end-to-end solutions for success in the drug
delivery market. With this unique combination, Lubrizol LifeSciences delivers
comprehensive medical and pharmaceutical solutions, including to the growing
combination product market.
"Particle Sciences and Lubrizol LifeSciences have worked together for several
years providing various elements of an end-to-end solution from polymer supply
through formulation and commercial manufacturing," said Mark Mitchnick, chief
executive officer, Particle Sciences. "With this transaction, Lubrizol
LifeSciences acquires Particle Sciences' extensive formulation, analytic and
production assets for drug eluting devices, particulate, sterile and other
complex drug products established over the last 10 years. We expect that
coordinating all of this under one company will greatly benefit our customers."
Particle Sciences will now be part of Lubrizol Advanced Materials but will
retain its company name. Financial terms of the transaction were not disclosed.
About The Lubrizol Corporation
The Lubrizol Corporation, a Berkshire Hathaway company, is a technology-driven
global company that combines complex, specialty chemicals to optimize the
quality, performance and value of customers' products while reducing their
environmental impact. It produces and supplies technologies to customers in the
global transportation, industrial and consumer markets. These technologies
include lubricant additives for engine oils, driveline and other transportation-
related fluids, industrial lubricants, as well as additives for gasoline and
diesel fuel. In addition, Lubrizol makes ingredients and additives for home
care and personal care products and pharmaceuticals, and specialty materials,
including plastics technology and performance coatings in the form of specialty
resins and additives. Our products for the oilfield market include technologies
for exploration, production and transportation.
With headquarters in Wickliffe, Ohio, Lubrizol owns and operates manufacturing
facilities in 17 countries, as well as sales and technical offices around the
world. Founded in 1928, Lubrizol has approximately 9,000 employees worldwide.
Revenues for 2014 were $7 billion. For more information, visit Lubrizol.com.
Media Contact
Julie S. Young
440/347-4432
Website: www.lubrizol.com
###
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Lubrizol via GlobeNewswire
[HUG#1949653]
Unternehmensinformation / Kurzprofil:
Datum: 08.09.2015 - 14:55 Uhr
Sprache: Deutsch
News-ID 418528
Anzahl Zeichen: 5111
contact information:
Town:
Wickliffe, Ohio
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 167 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Lubrizol Acquires Particle Sciences"
steht unter der journalistisch-redaktionellen Verantwortung von
Lubrizol (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
