Supplier News Breaks Archives
Axellia buys majority stake in Phoenix Global Supply Group
May 19th, 2010
COPENHAGEN, Denmark – Axellia Pharmaceuticals has acquired a majority interest in Phoenix Global Supply Group Inc. to supply finished dosage over-the-counter pharmaceutical products in the United States and Canada.
Denmark-based Axellia announced the deal late Tuesday. Financial terms weren't disclosed. Phoenix Global, with headquarters in White Plains, N.Y., is a supplier of private-label and store-brand first aid products.
"Our investment in Phoenix is a significant expansion of Axellia's presence in the international pharmaceutical market," Carl-Ake Carlsson, Axellia chief executive officer, said in a statement. "An important part of our strategy is to expand our offering to include finished products in targeted dosage forms and geographic markets, while continuing to develop our core API [active pharmaceutical ingredients] business."
Axellia is a leading provider of several life-saving anti-infective drugs, with a growing presence in injectable finished products.
The company said Phoenix's initial product launches in North America are expected to include private-label finished goods using Axellia's popular antibiotic APIs, such as bacitracin and polymyxin B sulfate, two of the major ingredients found in topical anti-infective wound healing first aid products.
"The Phoenix team is delighted to welcome Axellia as its majority owner," commented Walter Jenkins, CEO of Phoenix Global. "While there are many other manufacturers of over-the-counter antibiotic products, we believe that the U.S. and Canadian markets for these products continue to be attractive and provide a significant opportunity for Phoenix."