Curida acquires Norwegian pharmaceutical manufacturer

Published: 05 Jan 2018

(Elverum, 3 January 2018) Curida has completed the acquisition of the Norwegian pharmaceutical manufacturer Ås produksjonslab.

Ås produksjonslab has a long history in manufacturing a range of liquid products for Norwegian pharmacies. The company can also do contract manufacturing for National and International customers.

The acquisition of Ås produksjonslab strengthens Curida’s position as a Contract Development and Manufacturing Organization (CDMO). Curida operates in an international market where development activities and manufacturing of pharmaceuticals are increasingly being outsourced to specialized companies.

The goal is to build a strong Curida that is competitive in a pharmaceutical market that is growing both nationally and internationally.

Curida acquires Ås produksjonslab from the Norwegian Pharmacy Association company Serviceproduksjon AS. The Norwegian Pharmacy Association is the trade organization for the country’s 900 pharmacies.

Ås produksjonslab is located just south of Oslo, and will continue its operations in Ås after the acquisition. The company has an annual turnover of about NOK 21 million.

– The acquisition is linked to the recent announcement that Curida raised NOK 50 million, divided equally between investment companies Canica and Klaveness Marine. At the same time, the Governmental investment company Investinor has an option to subscribe for a further NOK 25 million, says Per S. Thoresen, Chairman of the Board of Curida. Investinor will make a final decision at the end of January.

Per T. Lund, CEO of the Norwegian Pharmacy Association commented that he expects that the sale of Ås produksjonslab will contribute to a viable production environment for pharmaceuticals in Norway and ensure that Norwegian pharmacies can still supply in-demand medicines.

In November 2017, it was announced that Curida had signed an agreement with the Norwegian Armed Forces for raw materials supply and pharmaceutical manufacturing in emergency preparedness.

From the left: CFO the Norwegian Pharmacy Association Helge Ranvik, Chairman of Curida Per S. Thoresen, CFO Curida Terje Gabrielsen, CEO Curida Leif Rune Skymoen, CEO of Ås produksjonslab Gro Noraker, and CEO Norwegian Pharmacy Association Per T. Lund.