Hovione concludes sale of iMAX business

Contract development and manufacturing organisation (CDMO), Hovione, has concluded the sale of all its share capital of iMAX Diagnostic Imaging Holding, marking the end of the company’s supply of iopamidol and iohexol active pharmaceutical ingredients (APIs) to the generics industry.

After entering the generics business in 1993, Hovione decided to move the majority of its manufacture to the iMAX factory in China in 2007, as a result of capacity limitations in Europe and rising customer demands. Formulations containing the company’s APIs have been supplied to the growth markets in Asia, including Japan, over the course of 20 years. However, the company has now taken the decision to focus on its off-patent business, supplying specialised APIs.

“Getting into iopamidol and iohexol was a decision we took in 1993. Today Hovione’s strategy focuses on difficult to make and difficult to formulate products, supplied to demanding markets, serving innovative clients,” explained Guy Villax, CEO. “Our contrast media business is growing and has many loyal clients that demand high quality, but it increasingly does not seem a good fit with the rest of our activities. The opportunity to sell iMAX with its manufacturing business of APIs and formulated product to a market leader makes sure this business can continue to develop even better. We are convinced that the buyer will be good owner and employer, and will continue supplying reliably the great clients that have supported iMAX’s growth.”