Hovione To Exit Generic Contrast Media Business
Hovione, a contract development and manufacturing organization, has sold all of the share capital of its generic contrast media business, iMAX Diagnostic Imaging.
The sale marks the end of Hovione’s supply of the active pharmaceutical ingredients iopamidol and iohexol to the generic industry. “Getting into iopamidol and iohexol was a decision we took in 1993,” said Hovione Chief Executive Officer Guy Villax in a company statement. “Today Hovione’s strategy focuses on difficult to make and difficult-to-formulate products, supplied to demanding markets, serving innovative clients. Our contrast media business is growing and has many loyal clients that demand high quality, but it increasingly does not seem a good fit with the rest of our activities.”
Hovione entered the generic contrast media business in 1993 and in 2007 moved most of its manufacture to the iMAX factory in China because its capacity in Europe was no longer able to meet demand, according to the company. The business for most of that period represented the largest weight of Hovione’s product portfolio.
Hovione has decided to focus on its contract development and manufacturing business and its off-patent business supplying specialized active pharmaceutical ingredients.