UK-based Oval Medical designs and develops drug delivery devices. AptarGroup has identified the sector as a growth opportunity and paid Oval Medical $3.2m (€2.4m) to expand its presence in the market.
“It allows Aptar Pharma to become the preferred manufacturing partner of Oval Medical and creates a new global player in the area of injectable drug delivery devices”, Peter Pfeiffer, CEO of AptarGroup, said.
A licensing agreement allows AptarGroup to use the auto-injector technology in research and development and combine it with its existing capabilities.