Humco, a diversified, global pharmaceutical company, announced that their Board of Directors has entered into a definitive merger agreement under which Humco will combine with Fagron, a pharmaceutical company specializing in compounding and personalized medicine, for a value of up to $70 million.
Founded in 1872, Humco serves over 45,000 pharmacies and is anchored by its leading non-sterile, innovative patented delivery vehicles (including topical and transdermal creams, syrups and suspensions) and branded pharmaceutical products.
This mutually beneficial merger will allow Humco to strengthen and add value to customers through Fagron’s extensive line of Active Pharmaceutical Ingredients, product portfolio, and strong research and development. While still working under the Humco brand, increased financial flexibility will facilitate continued investment into innovative pharmaceutical products for patients and pharmacies globally as well as into Humco’s state-of-the-art FDA registered, cGMP compliant production facility in Texarkana, Texas.
“By combining the two companies, we create a strong competitive company with significant scale, strengthening our market position in the USA. Our global footprint and leading market positions in Europe and South-America will enable us to successfully launch and grow the innovative branded pharmaceutical products and delivery vehicles of Humco outside the USA.,” said Rafael Padilla, Fagron’s chief executive officer.
Gregory Pulido, Humco’s chairman and chief executive officer, will transition to the role of executive chairman while Andrew Pulido, Humco’s current president, Global Pharmaceuticals, will assume the sole role of president at Humco.
“Being part of a large global organization and a world leader in pharmaceutical compounding, creates a more capable and dynamic company for our customers and employees. We complement each other, selling in adjacent markets with very little customer overlap, enabling a significant number of growth opportunities. While we introduce our successful and unique patented delivery vehicles and branded pharmaceutical products internationally, our customers can benefit from the excellent range of more than 1,600 high quality active pharmaceutical ingredients of Fagron,” said Gregory Pulido.
(Source: Humco)
