Croda buys vaccine adjuvant specialist for €70m
Chemicals group Croda International has wrapped up a deal to buy Denmark-based vaccine adjuvant specialist Brenntag Biosector for €72m.
Chemicals
9,511.62
17:14 28/03/24
Croda International
4,902.00p
16:40 28/03/24
FTSE 100
7,952.62
17:14 28/03/24
FTSE 350
4,383.21
17:14 28/03/24
FTSE All-Share
4,338.05
16:50 28/03/24
Biosector, which is expected to be folded into the group by the end of the year, specialises in innovative aluminium and saponin-based adjuvants. Such adjuvants are widely used to increase their effectiveness of human and veterinary vaccines.
Croda said aluminium-based also provide a platform to introduce new technically advanced saponin-based adjuvants, with the addition of vaccine adjuvants being "a natural extension" to Croda's excipient delivery systems in its Health Care business.
"Biosector is a rare asset, in a high value, fast growing sector of the global pharmaceutical market," said Croda boss Steve Foots.
"With an experienced high-quality team, Biosector brings world-class protected technologies and industry-leading manufacturing facilities. Furthermore, the strong cultural alignment between Biosector and Croda enhances our highly technical-based sales approach and emphasis on value over volume."
He added that adjuvants represent a niche, high-growth market, driven by increased healthcare spending alongside advances in biotechnology and the growing need for preventative treatments.