Evonik strengthens its exclusive synthesis business in US
Evonik acquires Eli Lilly and Company’s U.S. Tippecanoe manufacturing site
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.
Most read news
Organizations
Other news from the department business & finance
These products might interest you

Pharmaceutical Substances by Thieme Verlag
Look up Industrial Syntheses of 2,600 APIs
Your tool for Syntheses, Patents and Applications – Pharmaceutical Substances

AZURA Purifier + LH 2.1 by KNAUER
Preparative Liquid Chromatography - New platform for more throughput
Save time and improve reproducibility during purification

Get the chemical industry in your inbox
By submitting this form you agree that LUMITOS AG will send you the newsletter(s) selected above by email. Your data will not be passed on to third parties. Your data will be stored and processed in accordance with our data protection regulations. LUMITOS may contact you by email for the purpose of advertising or market and opinion surveys. You can revoke your consent at any time without giving reasons to LUMITOS AG, Ernst-Augustin-Str. 2, 12489 Berlin, Germany or by e-mail at revoke@lumitos.com with effect for the future. In addition, each email contains a link to unsubscribe from the corresponding newsletter.
Most read news
More news from our other portals
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.

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.