Copy to clipboard 
Evonik signed an agreement to acquire the LACTEL® business of biodegradable polymers from DURECT by the end of 1Q21. Poly(lactide-co-glycolide) (PLG or PLGA) polymers are used to control biodegradation of implantable medical devices across various applications, including orthopedic.
Evonik will pay $15 million to DURECT in exchange for certain assets and liabilities associated with the LACTEL product line based in Birmingham, Alabama, plus an additional potential payment based on full-year EBITDA results.
“The acquisition of the Lactel® business will strengthen both our innovation growth field Healthcare Solutions and Evonik’s position as a globally leading CDMO for drug delivery solutions,” said Johann-Caspar Gammelin, Head of the Nutrition & Care Division of Evonik. “The acquisition of the LACTEL® business marks a consequential step in the growth agenda of the life-science division Nutrition & Care. The LACTEL® business will benefit from fast-growing markets such as advanced drug delivery, biomaterials for tissue engineering, and the 3D printing of implantable medical devices.”
“The integration of the LACTEL® business into Evonik’s market-leading portfolio of functional excipients, biomaterials and integrated CDMO services will strengthen our position as a preferred development partner and solutions provider for pharmaceutical and medical device customers,” said Thomas Riermeier, Head of the Health Care business line. “By welcoming LACTEL® and members of their team into the Evonik family, we look forward to providing customers with even greater platform versatility as well as other value-adding services.”
