(BRK.A), (BRK.B)
Warren Buffett’s Berkshire Hathaway, known for its strategic acquisitions, has gone the other direction with the sale of Lubrizol Life Science business group Inc. from its portfolio.
The buyer, Agno Pharma, which purchased the company from Berkshire’s The Lubrizol Corporation, is a prominent US-based global pharmaceutical contract development and manufacturing company, is set to leverage this acquisition to enhance its capabilities and services.
The acquisition encompasses the drug product formulation technology associated with Particle Sciences Inc., as well as its development and manufacturing site located in Bethlehem, PA, which employs approximately 65 professionals.
The sale of the unit is a reverse for Lubrizol, which in 2019 had incorporated Particle Science into its Lubrizol Life Science business group. At that time, Lubrizol had also acquired Bavaria Medizin Technologie GmbH, a German contract development and manufacturing organization of intravascular and nonvascular devices.
Particle Sciences, established in 1991, specializes in pre-clinical and clinical stage drug product formulation, offering a comprehensive range of services, including analytic, bioanalytic, physical characterization, and manufacturing. The company excels in handling poorly soluble and highly potent compounds in both sterile and non-sterile environments.
Agno Pharma’s move to acquire Particle Sciences aligns with its strategy to broaden its capacity and capabilities in drug product formulation and clinical manufacturing services on a global scale. The acquisition positions Agno to make significant investments in clinical-scale manufacturing services, expanding from sterile liquid manufacturing and filling to the micronization of sterile powder filling capabilities.
© 2023 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell a stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.