ICE acquires New Zealand Pharmaceuticals
MILAN, August 17th, 2020 – Industria Chimica Emiliana (“ICE”), a global leader in the production of Ursodeoxycholic Acid (“UDCA”), an active pharmaceutical ingredient (“API”) primarily used in drugs that treat gastroenterological diseases, has acquired New Zealand Pharmaceuticals Ltd (“NZP”). As part of the transaction, funds managed and/or advised by Archer Capital (former NZP majority shareholders) will become shareholders of ICE.
NZP develops and manufactures biopharmaceutical products specialising in high purity bile acids, blood group products, complex carbohydrates and other pharmaceutical intermediates and APIs.
Established in 1971 to extract and purify biochemicals from by-products of the New Zealand meat processing industry, NZP has evolved over its ~50 year history into a diversified developer and manufacturer of high value pharmaceutical ingredients with a global raw material procurement and end-product distribution network.
Today, NZP is a valued supplier to leading global pharmaceutical manufacturers across Asia, Europe and North America.
ICE and NZP’s complementary geographic coverage, product knowledge and breadth of offering will significantly improve the value proposition for customers. Both companies already have strong R&D capabilities, which will be further strengthened by this merger, enabling customers to reach more patients over time by developing new pipeline products which treat additional indications.
“We place great value on our customer relationships, many of which are incredibly long-standing. This partnership will strengthen our ability to support them through the provision of a broader product mix and facilitate the development and production of important new bile-based API drugs” said Agostino Barazza, Chief Executive Officer of ICE.
“We are excited by the opportunities this partnership presents to enhance and accelerate new bile acid solutions to the market. ICE are a renowned leader in the bile acids and related products industry, and our combined reach and resources will enable us to better serve both existing and new customers” said Andy Lewis, Chief Executive Officer of NZP.
Founded more than sixty years ago, ICE Group is a global leader in bile-related products, with a network of specialist facilities around the world. ICE’s main product is UDCA, a key ingredient in drugs treating liver conditions. ICE is based in Reggio Emilia, Italy, and has a global footprint with subsidiaries in Europe, APAC and the Americas.
NZP develops and manufactures biopharmaceutical products specialising in high purity bile acids, blood group products, complex carbohydrates and other pharmaceutical intermediates and APIs. NZP is based in Palmerston North, New Zealand, and also operates a dedicated research & development and custom synthesis facility in Reading, UK.