PARIS--(BUSINESS WIRE)--Regulatory News:
EUROAPI announces today the implementation of an initial 4-year manufacturing agreement with Novéal, an integral part of the L’Oréal Group with a focus on developing eco-responsible processes and guaranteeing exclusive, high-performance ingredients to sustainably meet the beauty needs of consumers around the world.
As part of this collaboration, EUROAPI will develop and industrialize the manufacturing process of innovative cosmetic ingredients through its Contract Development and Manufacturing Organization (CDMO) activity. This agreement encompasses several projects, the first of which will take place at EUROAPI’s Frankfurt site with a dedicated line of complex chemistry production.
“Cosmetics is a new and growing segment for EUROAPI’s CDMO business. Signing this manufacturing agreement with Novéal demonstrates our ability to adapt to cosmetics’ short timelines and regulatory and quality requirements,” said Cécile Maupas, Chief CDMO Officer of EUROAPI. “This multi-million-euro contract is a strong recognition of EUROAPI’s broad panel of technologies and capacities to respond to the increasing demand across different modalities, and to guarantee full business continuity for cosmetic ingredients.”
The CDMO activity is a strategic priority for EUROAPI. Since the creation of its dedicated CDMO business development team in 2021, EUROAPI has achieved substantial results and doubled the number of customers in only one year, with 79 projects won from preclinical phase up to commercial supply.
EUROAPI is focused on reinventing active ingredient solutions to sustainably meet customers’ and patients’ needs around the world. We are a leading player in active pharmaceutical ingredients with approximately 200 products in our portfolio, offering a large span of technologies, while developing innovative molecules through our Contract Development and Manufacturing Organization (CDMO) activities.
Taking action for health by enabling access to essential therapies inspires our 3,450 people every day. With strong research and development capabilities and six manufacturing sites all located in Europe, EUROAPI ensures API manufacturing of the highest quality to supply customers in more than 80 countries. EUROAPI is listed on Euronext Paris; ISIN: FR0014008VX5; ticker: EAPI). Find out more at www.euroapi.com and follow us on LinkedIn.
Certain information contained in this press release is forward looking and not historical data. These forward-looking statements are based on opinions, projections and current assumptions including, but not limited to, assumptions concerning the Group’s current and future strategy, financial and non-financial future results and the environment in which the Group operates, as well as events, operations, future services or product development and potential. Forward-looking statements are generally identified by the words “expects”, “anticipates”, “believes”, “intends”, “estimates”, “plans” and similar expressions. Forward looking statements and information do not constitute guarantees of future performances, and are subject to known or unknown risks, uncertainties and other factors, a large number of which are difficult to predict and generally outside the control of the Group, which could cause actual results, performances or achievements, or the results of the sector or other events, to differ materially from those described or suggested by these forward-looking statements. These risks and uncertainties include those that are indicated and detailed in Chapter 3 “Risk factors” of the Universal Registration Document approved by the French Financial Markets Authority (Autorité des marchés financiers, AMF) on April 14, 2023, under number R.23-009 and the Amendment to Universal Registration Document approved by the AMF on April 25, 2023 under number R.23-015. These forward-looking statements are given only as of the date of this press release and the Group expressly declines any obligation or commitment to publish updates or corrections of the forward-looking statements included in this press release in order to reflect any change affecting the forecasts or events, conditions or circumstances on which these forward-looking statements are based.