LGM Pharma, a leading provider of API and CDMO services designed for the full pharmaceutical product life cycle, today announced strong growth in 2022 in both its long-established Active Pharmaceutical Ingredients (API) division and its new contract development and manufacturing (CDMO) division. LGM acquired its CDMO division in 2020, with full operational integration achieved in late 2021 for commercial manufacturing and for the two newly created machines CDMO Service Segments – Analytical Testing Services (ATS) and Pharmaceutical Product Research and Development (R&D).
Strong demand for these service offerings has resulted in 49 ATS and R&D projects being booked in 2022, achieving 150% of the sales budget in the first full year of operations for these new service segments. Demand remained strong in 2022 for LGM Pharma’s API Services division, delivering over 300 unique APIs and handling over 1,700 customer imports.
Strong customer demand fueled strong growth and investment in the CDMO division’s service segments, which provide analytical testing; method development and validation; formulation development; production and testing of clinical trial materials; Stability Studies Regulatory Submissions Commercial Manufacturing and more. CDMO is available in multiple dosage forms including oral solid doses, oral disintegrating tablets, powders, liquids, suspensions, semi-solids and suppositories.
“The strong start posted by the CDMO business reflects our company-wide commitment to supporting customer needs with quality-assured, customer-focused strategies. These strategies are designed to increase agility and flexibility, reduce supply chain risk, and improve access to quality pharmaceutical products and APIs. We created the CDMO division to focus We recognize the unmet needs of small and medium-sized biopharmaceutical companies and are especially proud of the speed, agility and flexibility we use to meet their distinct needs.We look forward to continued strong growth in our CDMO division, as our multiple US facilities and experienced technical staff are well positioned to help companies develop its products through successful marketing.
Dr. Prasad Raje, CEO, LGM Pharma
in that API sources For business, LGM takes a bespoke approach to meeting the overall goals of the client. By understanding the full life cycle of a product in advance, LGM can meet their API sourcing needs in a sustainable and scalable way. Customers also gain access to a highly qualified and vetted network of innovative API manufacturers – developed over decades – that allows LGM to provide customers with unique services, such as providing quality-assured new and hard-to-source APIs that are compliant with US regulations.
Dr. Raji continued, “The value of our bespoke API sourcing strategies to customers has never been more evident than in today’s era, when supply chain issues continue to be a significant challenge for pharmaceutical manufacturers. Our continued success in growing this business is built on several core principles. The first is our ongoing commitment to quality and continuous improvement in our quality-focused processes and procedures, in which we have made significant investments over the past several years.Another key success factor is our proactive approach to working with clients to mitigate risk, using tactics such as pulling shipments forward, increasing inventory security, proactively addressing potential delays, and sourcing alternative manufacturing sources when needed. This combination of focus on quality and proactive risk mitigation has earned us the trust and loyalty of a growing customer base.”
LGM Pharma offers its pharmaceutical customers more than 100,000 square feet of specialized equipment, manufacturing facilities, and warehouses in California, Colorado, Florida, Kentucky, and Texas; Expert staff with over 100 years of experience in drug development; Unrivaled global network of pre-qualified CGMP API manufacturers with over 6,000 APIs delivered to customers in the past 3 years; A strict commitment to quality encompasses every aspect of the company’s business; and the belief that customers are best served as partners, working collaboratively with LGM Pharma to formulate individual frameworks to improve their projects.
To learn more about LGM Pharma’s unique suite of API sourcing and CDMO services for pharmaceutical products, request a meeting at [email protected] With company executives at 2023 DCAT Week, March 20-23, in New York City.