An investment consortium led by Signet Healthcare Partners, Bionpharma and GMS Capital Partners has formed Pharma Nobis to acquire Fagron’s U.S. contract manufacturing business. This business unit, operating from a manufacturing facility in Texarkana, TX, provides contract manufacturing and private label services for consumer healthcare companies and retailers in the U.S. Fagron will retain a 20% interest in the company. Todd Daviau, co-founder and former president and CEO of CoreRx, a pharmaceutical contract development and manufacturing company, was named CEO of Pharma Nobis.
“We are enthused about the opportunity to invest in this business,” said James Gale, managing director, Signet Healthcare Partners. “Fagron has developed an outstanding company with a reputation as a cost-competitive manufacturer with a high service rating. We and our equity partners will seek to build on this capability and support the Pharma Nobis management team in growing their business.”
Concurrent with the acquisition, the company announced that James Gale, Theron Odlaug, Yezan Haddadin and Andrew Pulido will join its board of directors, along with Mr. Daviau. Dr. Odlaug is an experienced pharmaceutical executive and Signet Venture Partner. Yezan Haddadin is the CEO of GMS Capital Partners. Andrew Pulido is the president of Fagron North America.