Unither Pharmaceuticals

Unither Pharmaceuticals is a prominent contract pharmaceutical product manufacturing service provider catering to the healthcare and generic drug sector. The company's core expertise lies in producing and packaging sterile unit doses, non-sterile liquids, solid, and semi-solid medications. It leverages advanced technologies such as blow-fill-seal (BFS) and liquid stick-packs to deliver these products. Additionally, Unither offers regulatory insight, galenic development, and analytical services, facilitating clients' outsourcing of their manufacturing needs.

Founded in 1993 in Amiens, France, Unither Pharmaceuticals specializes in developing and manufacturing liquid single-dose forms, including eye drops, saline solutions, asthma medications in BFS unit doses, as well as over-the-counter (OTC) and prescription (Rx) formulations in stick packs. With a workforce exceeding 2000 individuals across 8 manufacturing facilities spanning France, the United States, Brazil, and China, Unither Pharmaceuticals achieved notable success, recording sales of €371 million in 2022.

History

Established in 1993 through the acquisition of a Sanofi plant, the company's initial focus was on producing sterile single-dose polyethylene products like saline, asthma treatments, and eye drops. Making use of Blow Fill Seal (BFS) technology in 1995 allowed the creation of sterile doses in a single manufacturing step. By 1997, the company had expanded its presence to global markets, exporting to Europe and building expertise for international customers. Unither's growth continued with the acquisition of a second sterile single-dose unit manufacturing plant in Coutances, France, in 2002. In 2005, they furthered their expansion by acquiring Créapharm, specializing in effervescent tablets. The launch of Unistick stick-packs in 2006 marked a significant advancement in providing single-dose stick solutions. Over the years, Unither continued to expand its technologies, facilities, and international reach, including the acquisition of the Colomiers site in 2009, the launch of Uniflash in 2010, the opening of a plant in Butantã, São Paulo, Brazil in 2011, and the acquisition of various plants, including the Novartis plant in 2022

Products

Main Market Products

1. Sterile Unit Doses with BFS Technology: Unither Pharmaceuticals stands out in the production of sterile unit doses, leveraging advanced blow-fill-seal (BFS) technology. This approach ensures efficient and contamination-free manufacturing of individual medication doses. By utilizing BFS, Unither maintains high standards of sterility and quality in its products, catering to pharmaceutical companies' and patients' needs for safe and reliable medications.
2. Liquid Stick-Packs and Innovative Packaging: Unither Pharmaceuticals offers liquid stick-packs, a testament to their commitment to innovative packaging solutions. These stick-packs provide a user-friendly and precise dosing mechanism for various pharmaceutical products. Unither's expertise in crafting such packaging demonstrates their focus on enhancing patient experience while maintaining the integrity of the medications.
3. Liquid Single-Dose Forms (Eye Drops, Saline Solutions, Asthma Medications): Unither's specialization extends to the development of liquid single-dose forms, including essential products like eye drops, saline solutions, and asthma medications. These single-dose forms are particularly valuable for ensuring accurate dosing, minimizing wastage, and enhancing patient convenience. By catering to pharmaceutical companies and generic manufacturers with these specialized forms, Unither contributes to effective treatment solutions and streamlined medication administration.

Patent Pipeline

1. Euroject Injection: has achieved noteworthy progress in its product development endeavors with the introduction of the EuroJect platform. This technological innovation constitutes an advanced injection system designed to optimize the medication administration process. The EuroJect system showcases a user-centric approach by amalgamating precision dosing with user-friendly operation, fostering enhanced patient compliance and accuracy in drug delivery. The system's ergonomic design and automated functionality reduce the potential for administration errors and minimize patient discomfort during injection. However, while the EuroJect platform demonstrates impressive advancements, potential challenges could involve device complexity, training requirements for healthcare professionals, and the need for rigorous quality control measures to ensure consistent performance.
2. Uniflash: pioneering needle-free injection technology, marks a significant advancement in pharmaceutical innovation. This cutting-edge system revolutionizes drug delivery by eliminating the need for traditional needles. Uniflash employs a high-velocity fluid jet to administer medications, ensuring rapid absorption and reducing discomfort for patients. This method also reduces the risk of needle-related complications and enhances the overall injection experience.
3. Sof-gel: employs innovative soft gelatin capsules to encapsulate liquid or semi-solid medications, heralding a new era of drug delivery. This technology offers an array of merits, including heightened bioavailability, meticulous dosing precision, and amplified patient adherence facilitated by its seamless ingestion. In the realm of ophthalmology, Sof-gel emerges as a beacon of progress, finding pivotal applications in ocular treatments. From lubricating eye drops to targeted therapies, its adaptability caters to diverse ophthalmic formulations, promising enhanced efficacy and patient comfort.

Market

Market Share

Unither Pharmaceuticals has a major interest in the fast-growing ophthalmology market. Thus, ongoing investments are being made, including the acquisition of this new plant in Latin America, which allows the company to manufacture ophthalmic healthcare products across four continents (Europe, Asia, North America, and South America).

Blow Fill Seal (BFS) technology is pivotal in pharmaceutical aseptic package production, involving simultaneous blowing, filling, and sealing of plastic containers. This technology's ascendancy rests on its cost-effectiveness, efficiency, and aseptic packaging capabilities. Our discourse examines prominent entities within the Blow Fill Seal (BFS) Market, spotlighting their revenue and market dimensions. Notably, the BFS domain exhibits a Compound Annual Growth Rate (CAGR) of 4.3%.

Segment Specific Market Share

Unither Pharmaceuticals, a French company, specializes in crafting single-dose BFS units for the pharmaceutical market. This entity provides diverse packaging solutions encompassing ampoules, vials, and bottles. With a footprint spanning Europe, Asia, and North America, Unither reaps an annual revenue of roughly $175 million, commanding a market share of approximately 18%.

Anticipatedly, the Blow Fill Seal (BFS) market is poised to ascend from $312.5 million in 2020 to $386.0 million by 2025, translating to a CAGR of 4.3% throughout the forecast period. The surge in demand for aseptic packaging, coupled with escalating generic drug requisites and pharmaceutical industry expansion, propels the BFS market's trajectory.

In the Pharmaceutical Suppositories Global Market Report 2023, projections highlight the dynamic trajectory of the global pharmaceutical suppositories market. Forecasts indicate an ascent from $1.5 billion in 2022 to $1.59 billion in 2023, driven by a robust Compound Annual Growth Rate (CAGR) exceeding 5%. Subsequently, the pharmaceutical suppositories market is envisaged to expand further, reaching $1.9 billion by 2027, again demonstrating a CAGR exceeding 5%. This progression finds impetus in factors such as the aging demographic, heightened prevalence of kidney impairment or failure, and an increased occurrence of hemorrhoids. These dynamics collectively underpin the forthcoming growth of the pharmaceutical suppositories market.

Although Unither doesn't lead the way in terms of market share it has a significant stake given its size. The global pharmaceutical suppositories market is concentrated, with a small number of large players in the market. Bayer AG was the largest competitor with a 23.2% share of the market, followed by Pfizer Inc., Novartis International Ag, Sanofi S.A., Intas Pharmaceuticals Ltd., Unither Pharmaceuticals, Cosette Pharmaceuticals Inc., Aenova Holding GmbH, Delpharm and Bliss GVS Pharma Ltd.

Recent Financings

On March 1, 2023, a group of investors including Parquest Capital, Keensight Capital, IK Partners, NiXEN Partners, and GIC acquired the company through a EUR 500 million Leveraged Buyout (LBO). This move is aimed at supporting the company's growth endeavors, allowing them to assist both new and existing customers in launching products and expanding their presence in the US market. The acquisition was facilitated by undisclosed lenders who provided EUR 500 million in debt financing, structured as a unitranche loan.

Financial Analysis

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