Solvay Pharmaceuticals, Inc. acquires pharmaceutical assets of ORGANICS/LaGrange, Inc.Solvay Pharmaceuticals, Inc. acquired the pharmaceutical assets related principally to current estrogen production of Northbrook, Ill.-based ORGANICS/LaGrange, Inc. Lincoln Partners initiated this transaction, assisted in the negotiations and served as the exclusive financial advisor to ORGANICS/LaGrange.
ORGANICS/LaGrange, Inc. has, for over 60 years, been an active pharmaceutical ingredient manufacturer specializing in complex, multi-component synthetic conjugated and esterified estrogens. With an exceptional depth of knowledge, an extensive collection of advanced equipment, and the FDA compliance expertise needed to help our customers move their projects forward in the highly competitive, highly regulated pharmaceutical environment, it was the right time for our shareholders to gain liquidity. "We wish Solvay the very best and believe them to be the perfect partner to take our Company to the next level of success. We're also grateful to Lincoln Partners whose expertise was critical in bringing about a transaction that was truly win-win for all" said Bud Hicks, President of ORGANICS/LaGrange.
"Given the unique nature of the Company's products and their market application, this transaction required extra care and problem solving in order to achieve a successful result." said Patrick Goy, managing director of Lincoln Partners. "We are very pleased to have represented ORGANICS/LaGrange in this transaction." Solvay Pharmaceuticals will continue the operations of ORGANICS/LaGrange under the name Organics L.L.C. and intends to honor existing supply agreements with other companies relevant to the acquired assets and to further grow the business.