LGM Pharma, a number one provider of tailored API and CDMO services for the total drug product lifecycle, today reported strong growth in 2022 in each its long-established Energetic Pharmaceutical Ingredient (API) division and its latest contract development and manufacturing (CDMO) division. LGM acquired its CDMO division in 2020, with full operational integration completed in late 2021 for business manufacturing and for the 2 newly-created CDMO service segments – Analytical Testing Services (ATS) and Drug Product Research & Development (R&D).
The strong demand for these service offerings led to 49 ATS and R&D projects booked in 2022, achieving 150% of sales budget in the primary full yr of operations for these latest service segments. Demand in 2022 also remained strong for LGM Pharma’s established API Services division, with over 300 unique APIs delivered and 1700+ imports handled for clients.
Robust customer demand fueled strong growth and investment within the CDMO division’s service segments, which give analytical testing; method development and validation; formulation development; clinical trial material production and testing; stability studies; regulatory submissions; business manufacturing and more. The CDMO division works with multiple dosage forms including oral solid dosages, oral disintegrating tablets, powders, liquids, suspensions, semi-solids and suppositories.
“The strong start posted by our CDMO business reflects our company-wide commitment to supporting customer needs with quality-assured, customer-centric strategies. These strategies are designed to extend speed and suppleness, reduce supply chain risks and improve access to high-quality drug products and APIs. We established the CDMO division to concentrate on the unmet needs of small to mid-size biopharma firms and are especially happy with the demonstrated speed, agility, and suppleness we employ to satisfy their distinctive needs. We sit up for continuing strong growth in our CDMO division, where our multiple US-based facilities and experienced technical staff are well-positioned to assist firms advance their products through successful commercialization.”
Dr. Prasad Raje, Chief Executive Officer of LGM Pharma
In its API sourcing business, LGM takes a bespoke approach to meeting a client’s overall objectives. By understanding the total life cycle of a product upfront, LGM can address their API sourcing needs in a sustainable and scalable way. Clients also get access to a highly scrutinized and qualified network of modern API manufacturers – developed over a long time – which allows LGM to supply clients with unique services, akin to supplying novel and hard-to-source APIs which might be quality-assured and compliant with US regulations.
Dr. Raje continued, “The worth of our custom API sourcing strategies for clients has never been more apparent than in the present era, with supply chain issues remaining a serious challenge for drug manufacturers. Our continuing success in growing this business is built on several key principles. First is our ongoing commitment to quality and continuous improvement in our quality-focused processes and procedures, where we have now made significant investments over the past several years. One other key success factor is our proactive approach to working with clients on risk mitigation, using tactics akin to pulling shipments forward, increasing safety stock, proactively addressing possible delays, and finding alternate manufacturing sources when needed. This mixture of quality focus and proactive risk mitigation has earned us the trust and loyalty of a growing customer base.”
LGM Pharma brings its pharmaceutical customers greater than 100,000 square feet of specialised equipment, manufacturing and warehouse facilities in California, Colorado, Florida, Kentucky, and Texas; expert staff with over 100 years of combined drug development expertise; an unparalleled global network of prequalified CGMP API manufacturers with greater than 6,000 APIs delivered to clients within the last three years; a rigorous commitment to quality that spans every aspect of the corporate’s business; and a belief that customers are best served as partners, working collaboratively with LGM Pharma to craft individualized frameworks to optimize their projects.
To learn more about LGM Pharma’s unique suite of API sourcing and drug product CDMO services, request a gathering at [email protected] with company executives at 2023 DCAT Week, March 20-23, in Latest York City.