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Press Release / Mar 07, 2018

Hovione sells the iMAX business

Hovione announces that it has concluded the sale of all of the share capital of iMAX Diagnostic Imaging limited.

Hong Kong, 7th of March 2018: Hovione announces that it has concluded the sale of all of the share capital of iMAX Diagnostic Imaging limited. For Hovione this sale marks the end of a 24 years history of reliable and uninterrupted supply of iopamidol and iohexol API to the generic industry globally.

Hovione entered the generic contrast media business in 1993 and in 2007 moved most of its manufacture to the iMAX factory in China because its capacity in Europe was no longer able to meet clients’ demand. This business continued to show a steady profitable growth and for most of that period represented the largest tonnage of Hovione’s product portfolio. Over the course of these 20 years formulations containing Hovione’s contrast media have been supplied to the growing markets of Asia and have included Japan’s best selling generic medicine.

Faced with considerable opportunities in both the contrast agents business and all its other segments, Hovione decided to focus on its CDMO business, on its off-patent business supplying highly specialized APIs and to exit the large volume business of contrast media. The very significant expansion plans that Hovione has embarked upon since 2016 require all of our attention.

“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. 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.” said Guy Villax, CEO.

 

About Hovione
Hovione has over 57 years of experience as a CDMO and is currently a fully integrated supplier offering from drug substance to drug product intermediate to drug product. With four FDA inspected sites in the US, China, Ireland, and Portugal, and development laboratories in Lisbon and New Jersey, the company provides branded pharmaceutical customers services for the development and compliant manufacture of innovative drugs and is able to support highly potent compounds. For generic pharmaceutical customers the company offers niche off-patent API products. In the inhalation area Hovione is the only independent company offering a complete range of services. 

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Three is the magic number for Hovione as it’s once again been certified as a top employer. For the third consecutive year, all four of its manufacturing sites - Lisbon, Cork, East Windsor in USA, and Macau - have been certified as Top Employers by the Top Employers Institute. Hovione is an international integrated pharmaceutical development and manufacturing organisation. This certification follows, Hovione said, a rigorous audit process. Jean-Luc Herbeaux, Chief Executive Officer, Hovione, explained: “This recognition reflects the exceptional dedication and collaboration of the entire Hovione team. Hovione is a development and manufacturing service company operating in one of the most demanding and regulated industries. We understand that our success is deeply rooted in our people. “Together, as One Hovione, we are committed to continuously refining our practices to foster a workplace that inspires motivation and enhances employee satisfaction, so that, every day, our team members bring their best selves to work, driving innovation and excellence at every step,” Jean-Luc added. Ilda Ventura, Senior Vice-President of Human Resources and Member of the Management Board, Hovione, said: “This distinction underscores our unwavering commitment to our people. At Hovione, we design our HR systems and processes to ensure that every team member enjoys a consistent and fulfilling experience, regardless of their role, function, or location.” Imelda Cummins, HR Director for Hovione Ireland, said: “This distinguished accreditation is a testament to our commitment to establish frameworks to attract, engage and retain top talent. We believe that our people are our greatest asset, and this recognition reflects the hard work and dedication of our entire team who strive every day to foster a culture of excellence, innovation, and collaboration. Receiving the Top Employer accreditation is motivation for us to keep pushing the boundaries of what it means to be an exceptional employer.” Hovione recently celebrated the opening of a multi-million euro expansion at its site in Ringaskiddy, which almost doubled the capacity of its spray drying facilities.   Read the full article on CorkIndependent.com  

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Hovione has once again solidified its position as a top employer in all four of its manufacturing sites - Lisbon (Portugal), Cork (Ireland), East Windsor (NJ, USA), and Macau. The program highlights the company’s significant advancements in several critical areas, including Purpose & Values, Diversity, Equity & Inclusion (DEI), Employer Branding, and Recognition & Rewards, driven by sustained investment in people. This certification from the Top Employers Institute follows a rigorous audit process and underscores Hovione’s consistency in investing in people and world-class workplace practices, as well as the unwavering commitment of its more than 2,300 employees to the company's core purpose and values.  “This recognition reflects the exceptional dedication and collaboration of the entire Hovione team,” said Jean-Luc Herbeaux, Chief Executive Officer. “Hovione is a development and manufacturing service company operating in one of the most demanding and regulated industries. We understand that our success is deeply rooted in our people. Together, as One Hovione, we are committed to continuously refining our people practices to foster a workplace that inspires motivation and enhances employee satisfaction, so that, every day, our team members bring their best selves to work, driving innovation and excellence at every step.” Macau, which became the first company in the region to achieve Top Employer certification last year, has successfully renewed the status, solidifying Hovione’s global leadership in workplace excellence. With its consistent Top Employer recognition, Hovione demonstrates that the talent strategy is perfectly aligned with the business strategy. Watch Ilda Ventura, Senior Vice-President of Human Resources and Member of the Management Board of Hovione, video about what this certification means for Hovione.   For additional information, please read the press release.  

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