Pharmaceuticals Acquisitions in Michigan

Webster Equity Partners and Gurnet Point Capital have acquired Corium's manufacturing business (now Corium Pharma Solutions) in a transaction valuing the CDMO at more than $400 million, while Webster also made a concurrent $100 million equity investment in Corium's neuroscience commercialization business. The deal splits Corium into two independent companies — a CDMO and a neuroscience therapeutics commercialization company — with Gurnet Point and Webster jointly owning the CDMO and holding board representation in both businesses.

Chicago-based healthcare investor BPOC (Beecken Petty O’Keefe & Company) made a strategic minority/majority investment in Praxis Packaging Solutions, a Grand Rapids-based contract packaging provider for OTC/Rx pharmaceuticals, medical devices, animal health and health & beauty products. Huizenga Group will retain a minority stake; proceeds will fund expanded sales and marketing and broadened service capabilities, and John Lowry will join Praxis as Executive Chairman.

Dipharma Inc., part of the Dipharma Group, has merged Kalexsyn, Inc. (a Michigan corporation acquired in 2018) into its 100% owner, Dipharma Inc., effective January 1, 2022. The merger completes Kalexsyn's formal integration and strengthens Dipharma's U.S. cGMP and CRO capabilities in Kalamazoo to support services from discovery through commercialization.