Corium sells CDMO business for $400 million

Corium had previously run its contract development and manufacturing organization (CDMO) within a large company, but decided to sell its stake in the business to Webster Equity Partners.

The stand-alone CDMO business will be called Corium Pharma Solutions, which Webster will acquire through an investment of more than $400 million (€408 million). Of that, $100 million was an equity investment from Webster.

A spokesman for the company confirmed that CDMO will be jointly owned by Webster and Gurnet Point, and that Corium has no stake in the business.

Previously, Gurnet Point acquired ownership of the Corium business for $500 million in 2018.

According to the companies, CDMO will focus on expanding its pharmaceutical and consumer product capabilities while maintaining production and supply of its current Corium product, Adlarity, a transdermal system for donepezil.

Corium Pharma Services will be able to offer its transdermal technology platform as part of its development services. CDMO has Corplex technology, which enables small molecule treatments to be delivered through the skin to provide immediate or sustained release profiles. The company also has MicroCor technology, which allows for needle-free delivery of biologics through the skin.

The biopharmaceutical business has two commercial products, both of which have been approved by the U.S. Food and Drug Administration (FDA) in the past two years.

The first is Azstarys (serdexmethylphenidate and dexmethylphenidate), a once-daily central nervous system (CNS) stimulant approved for the treatment of attention deficit hyperactivity disorder (ADHD) in patients over 6 years of age.

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