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Evonik Acquires SurModics Pharmaceuticals

7:00 AM MDT | November 2, 2011 | Deepti Ramesh

Evonik Industries says it has reached an agreement to acquire SurModics Pharmaceuticals (Birmingham, AL), the pharmaceutical business of SurModics  (Eden Prairie, MN). SurModics Pharmaceuticals is a leading provider of injectable drug delivery systems. The business includes two facilities for the development and manufacturing of polymers and drug delivery systems. The company employs about 80 pharmaceutical experts and had revenues of about $15 million in 2010. The acquisition is expected to be completed soon, and it enables Evonik to further develop its...

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