Evonik strengthens its exclusive synthesis business in US

Evonik acquires Eli Lilly and Company’s U.S. Tippecanoe manufacturing site

21-Oct-2009 - USA

Evonik Industries AG has agreed to acquire Indianapolis, Indiana-based Eli Lilly and Company’s Tippecanoe Laboratories manufacturing facility in Lafayette, Indiana. The site, which employs about 700, manufactures active pharmaceutical ingredients (API) and precursor materials for the pharmaceutical industry.

The purchase price was not disclosed. The transaction is expected to close by the end of the year, pending approvals from regulatory agencies.

The Tippecanoe plant will be fully integrated into Evonik’s global production and marketing network.

“The acquisition of Tippecanoe Laboratories enables us to meet the growing demand for intermediates and active pharmaceutical ingredients in the pharmaceutical industry and substantially boosts our global exclusive synthesis business,” said Dr. Klaus Engel, chief executive officer (CEO) of Evonik Industries. “The pharmaceutical market is attractive, economically stable, and produces growth rates near the double-digit range every year.”

In addition to the acquisition of the site, Evonik and Lilly will also enter into a multi-year supplier agreement for active pharmaceutical ingredients and intermediates.

Other news from the department business & finance

Most read news

More news from our other portals

Discover the latest developments in battery technology!

See the theme worlds for related content

Topic world Synthesis

Chemical synthesis is at the heart of modern chemistry and enables the targeted production of molecules with specific properties. By combining starting materials in defined reaction conditions, chemists can create a wide range of compounds, from simple molecules to complex active ingredients.

15+ products
4 whitepaper
15+ brochures
View topic world

Topic world Synthesis

Chemical synthesis is at the heart of modern chemistry and enables the targeted production of molecules with specific properties. By combining starting materials in defined reaction conditions, chemists can create a wide range of compounds, from simple molecules to complex active ingredients.

15+ products
4 whitepaper
15+ brochures