SurModics to sell pharmaceutical assets to Evonik for $30 million

2 November 2011

USA-based SurModics (Nasdaq: SRDX), a provider of surface modification technologies to the healthcare industry, has entered into a definitive agreement to sell its SurModics Pharmaceuticals assets to privately-held German specialty chemicals group Evonik Industries for $30 million in cash.

Under the asset purchase deal, the entire portfolio of products and services of SurModics Pharmaceuticals, including the company’s cGMP development and manufacturing facility located in Birmingham, Alabama, USA, will be acquired by Evonik. This grants Evonik ownership of SurModics’ parenteral dosage technology platforms and services and bioresorbable lactide-glycolide polymers business.

Enhances strategic focus on core medical device and IVD businesses

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