AptarGroup, parent of Aptar Pharma ($ATR), has an agreement to buy Stelmi Group, a French manufacturer of injectable drug delivery platforms.
The deal, which the company expects to close by the third quarter, nets Aptar two manufacturing facilities and one R&D center, all in France. Aptar has thus far focused on spray pumps and inhalers, but it's looking to expand its pharmaceutical offerings by investing in new delivery platforms, CEO Steve Hagge said in a statement.
"(The acquisition) fits with our long-term strategy to enter new markets and applications and to seek out opportunities in the pharmaceutical and biotech industries," he said. "With this transaction, we are entering a new area, which is primary packaging components used in the injectable drug delivery market."
While the company didn't give specifics on just how it plans to use Stelmi's facilities and know-how, the French company had specialized in rubber-based delivery platforms.
The purchase is the latest development in a busy year for Aptar. The company launched a compact dry-powder inhaler in May, looking to cash in on expanding asthma diagnoses in emerging markets by scaling back inhaler tech and offering a cost-effective option. Prior to that, Aptar developed a custom under-the-tongue delivery device for Subsys, a spray treatment for breakthrough cancer pain.
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