Nivagen Pharmaceuticals Advances Growth Strategy Through Sale
Nivagen Pharmaceuticals Boosts Strategy with Business Sale
Nivagen Pharmaceuticals, Inc., a prominent name in the specialty pharmaceuticals sector, recently made a significant move by selling its MedisourceRx business unit to a leading health and wellness organization. This strategic decision is facilitated by Bourne Partners, serving as their exclusive financial advisor.
Impact of the MedisourceRx Sale
MedisourceRx, an FDA-registered 503B outsourcing facility, played a vital role in Nivagen's operations. The funds generated from this transaction are earmarked to support the establishment of a cutting-edge 100,000 square foot sterile manufacturing and R&D facility. This new facility aims to enhance Nivagen's production capabilities while entering the Contract Development Manufacturing Organization (CDMO) sector.
Enhancing Manufacturing and Supply Chain
With the decision to reshore sterile product manufacturing, Nivagen intends to optimize its supply chain, leading to both reduced manufacturing expenses and quicker product launches.
Nivagen's Future Plans
Jay Shukla, the CEO of Nivagen, elaborated on the intent behind the sale. He stated, "This strategic move allows Nivagen to focalize its operations on expanding its state-of-the-art sterile injectable manufacturing facility. The sale not only liberates resources but provides a clearer direction towards our ANDAs and 505(b)(2) pipeline, propelling our growth trajectory further."
About Nivagen Pharmaceuticals
Nivagen is dedicated to the development, manufacture, and marketing of pharmaceutical products spanning generics and specialized drugs. The company is particularly known for its sterile injectables including IV bags, vials, prefilled syringes, and cartridges, in addition to offering 503B compounding services tailored to the institutional market.
Facility and Global Reach
Nivagen boasts a state-of-the-art sterile manufacturing facility equipped to handle various dosage forms. Its global distribution network is capable of reaching over 50 countries, driving their mission to deliver high-quality, affordable pharmaceutical products to patients worldwide.
Insights into Bourne Partners
Bourne Partners is a notable financial services firm with a specialized focus on healthcare and pharmaceutical sectors. Based in Charlotte, North Carolina, the firm is renowned for its investment banking and advisory services, backed by over two decades of experience in enhancing capital flow within the healthcare landscape.
Commitment to Improving Healthcare
Bourne Partners is committed to fostering the health and well-being of patients globally. Their experience and dedication facilitate enriching partnerships within the healthcare community.
Frequently Asked Questions
What company did Nivagen Pharmaceuticals sell?
Nivagen Pharmaceuticals sold its MedisourceRx business unit to Hims & Hers Health, Inc.
What will Nivagen do with the proceeds from the sale?
The proceeds will be used to build a new sterile manufacturing and R&D facility.
Where is the new manufacturing facility located?
The new state-of-the-art facility will be located in Sacramento.
What is Nivagen’s core focus post-sale?
Post-sale, Nivagen will focus on expanding its sterile injectable manufacturing and advancing its ANDAs and 505(b)(2) pipeline.
What services does Nivagen offer?
Nivagen specializes in the development and manufacturing of generics, specialty drugs, and offers 503B compounding services.
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