ProPharma Integrated into Evotec Services Division
Evotec AG announced that ProPharma Limited, its formulation subsidiary based in Glasgow, Scotland, will do business under the Evotec brand from the 1st of September 2005. ProPharma will be integrated into the Evotec services Division over the coming months.
Evotec has been the majority shareholder in ProPharma since it was formed as a spin-out enterprise from the University of Strathclyde in Glasgow, Scotland, in 2000. Evotec invested start-up capital and have continued to provide investment since then to support the successful expansion of the business.
The strategic integration of ProPharma comes as a result of the growing synergy between the pharmaceutical development services offered by both Evotec and ProPharma. This will combine Evotec's expertise in cGMP manufacture of active pharmaceutical ingredients with Pro- Pharma's expertise in pharmaceutical formulation development and the small-scale sterile manufacture of pharmaceuticals for use in clinical trials. Evotec will therefore offer a more comprehensive range of services to its pharmaceutical and biotechnology company clients in order to drive their candidate pharmaceuticals along the drug development pathway.
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