Noramco planning formulation tech unit alongside opioid API business
Noramco – which was acquired by private equity investor SK Capital last year – outlined its plan this week, also explaining that it wants to expand its geographic reach.
The firm gave few details of what it intends to do but did say that, in addition to making active pharmaceutical ingredients (APIs), it plans to “serve as a provider of technology solution,” citing its expertise in bioavailability, stability and ingredient purity as examples.
Bill Grubb, vice president of global business development, said: “Noramco is repositioning the company to serve as an innovation partner to the pharmaceutical industry, while still focusing 100% on the API market.
“Every material we make and every technology solution we provide will be designed to solve problems and accelerate customers’ commercial projects. This will happen at an accelerated pace with additional focus on geographic expansion into emerging markets.”
The firm also announced it will showcase novel technology for efficient synthesis of cannabinoid-based APIs at DCAT week in New York, US later this month.
SK bought Noramco along with affiliate Tasmanian Alkaloids, a grower and processor of opium poppies that are used to make ingredients for pain medications.
