Gerresheimer has produced the flacon for Baldessarini Signature on behalf of Mäurer & Wirtz. The heavy, high-quality glass flacon is finished in elegant deep blue and symbolizes simple, stylish and timeless elegance. Its clear, elegant design with a certain extravagance matches the expressive fragrance composition.
Gerresheimer is acquiring Swiss technology company Sensile Medical AG and thus fundamentally extends its business model. The acquisition enables Gerresheimer to offer drug delivery platforms with digital and electronic capabilities for pharmaceutical and biopharmaceutical customers.
“We are accelerating our growth and laying vital groundwork for the years ahead. For Gerresheimer, Sensile Medical is a perfect fit, as it develops innovative products and platforms for drug delivery, including digital connectivity. Sensile Medical is already working with customers on highly successful projects dealing with devices for diabetics and patients with heart complaints and therapy areas such as Parkinson’s disease.
Sensile Medical lays the foundation for a major extension of our business model in innovative application areas. We have also secured two major orders in our normal business, meaning that we can expect higher revenue growth and increased profitability in the medium term. The first half of the current financial year is going as expected, with earnings per share, in particular, performing well. We anticipate a strong second half year and have accordingly narrowed our revenue forecast to the upper end of the range,” said Rainer Beaujean, Speaker of the Management Board and Chief Financial Officer.
Acquisition of Sensile Medical
By adhering to its four growth drivers—stronger growth with existing and new customers, ongoing product development and innovation, regional expansion, and additions to the service and value portfolio—Gerresheimer has now succeeded in taking a further major step forward: after the balance sheet date, the Company signed an agreement for the acquisition of Sensile Medical AG (Olten/Switzerland). The purchase price will be a maximum of EUR 350m depending on the attainment of contractually specific milestones. The initial payment is EUR 175m. By making this strategic acquisition, Gerresheimer gains a highly innovative technology, thus enhancing its capability and product portfolio.
This is a building block in the company’s long-term development toward an original equipment manufacturer (OEM). Sensile Medical’s leading position in micro pump technology combined with drug delivery devices featuring electronic and connected capabilities for medical applications progresses to market readiness in specific customer projects with pharma companies. By contrast to the contractual manufacturing model in the Gerresheimer Business Unit Medical Plastic Systems, Sensile Medical is involved with pharma producers in an earlier phase of drug and therapy development.
In an already well-advanced collaboration, for example, pharma group Sanofi contributes its many years of experience with insulin and solutions for the treatment of diabetes. A further party to the same joint project is Verily, a company in the Alphabet group, with its expertise in integrating microtechnology and digital health technology. Sensile Medical holds a large number of patents and is remunerated by the pharma companies it partners with on attainment of specified milestones in the development phase and by way of royalties after product launch.
It generates additional revenue from the sale of devices, where the products can be manufactured either by external producers or by Gerresheimer’s Medical Plastic Systems Business Unit. As a result, the new division has little capital expenditure, a small asset base and low net working capital. An initial preliminary purchase price allocation has shown that the transaction will result in virtually no goodwill and that the acquired technology will consequently result in amortization of fair value adjustments of approximately EUR 25m per year over the next 15 years.
- With the acquisition of Sensile Medical, Gerresheimer is extending its business model in the direction of an Original Equipment Manufacturer (OEM) for drug delivery platforms with digital and electronic capabilities for pharmaceutical and biopharmaceutical customers. The purchase price is a maximum of EUR 350m with an initial payment of EUR 175m.
- Gerresheimer has secured two major orders for the manufacture of inhalers and prefillable syringes but lost a significantly smaller order for inhalers resulting in restructuring affecting the plant in Küssnacht, Switzerland.
- This will require higher capital expenditure - without consideration of Sensile Medical – by a minimum of two and a maximum of four percentage points of revenues at constant exchange rates in the years 2019 and 2020. Among other things the higher expenditures will be used for capacity expansion at Horsovsky Tyn (Czech Republic), further investments in automation and a new plant in Eastern Europe.
- For the financial years 2019 and 2020 - without consideration of Sensile Medical - the adjusted EBITDA margin will therefore be temporarily reduced by approximately one percentage point, compared with the financial year 2017. This is a consequence of proportionately higher revenues in the low margin engineering and tooling business for the new major orders as well as increased expenditures for relocation, employee training and production start-up/ramp-up.
- In the years 2021 and 2022, revenues - without consideration of Sensile Medical - are expected to increase by two percentage points beyond the usual rate of growth, as is the adjusted EBITDA margin. Capital expenditure will then return to approximately 8%.
- For the current year, Gerresheimer anticipates a strong second half without consideration of Sensile Medical and has narrowed its revenue forecast to the upper end of the guidance range.
Consumers are placing great importance on sustainable products, specifically on sustainable packaging solutions that can be disposed of in an environmentally friendly way. A pioneer in the quest for greater sustainability, Gerresheimer offers an extensive standard range of plastic packaging and devises customized solutions made from PET, R-PET, and BIO-PET plastics.
Glass production begins with engineering the mould. The more accurately the moulds are designed and made, the greater the quality of the bottle. A perfect and even distribution of glass is the key to success when it comes to ensuring the robustness and sustainability of these highly sensitive products. Gerresheimer employs innovative simulation software for this purpose.
Gerresheimer is driving sustainable cosmetic glass packaging by using more post-consumer recycled glass
As a leading producer of glass packaging for cosmetic products, Gerresheimer is committed to driving sustainability in the sector. Gerresheimer has been successfully producing glass with a high proportion of post-consumer recycled (PCR) material for over 10 years in Momignies, Belgium.
"People buy scent with their eyes,” says Bernd Stauch, Senior Director Sales Cosmetics at Gerresheimer. Gerresheimer’s new high-performance Decoration Centers at Momignies in Belgium and Tettau in Germany employ the latest technology such as UV printing, to ensure that perfume products look as good as they smell.
Gerresheimer’s factories in Tettau (Germany) and Momignies (Belgium) specialize in the industrial production of cosmetic glass and have been supplying notable customers in the cosmetics industry for decades. At both sites, newly created, high-performance “Decoration Centers” use modern techniques to customize sophisticated branded products for the cosmetics market.
Gerresheimer's Gx Elite vials help ensure patient safety
With its Gx Elite and Gx RTF vials, Gerresheimer presents two new type I vials made from borosilicate glass. The Gx Elite vials are the result of a careful product development process spanning several years. The highly shatter-resistant vials are extremely durable, free of cosmetic defects and can be customized for specialized customer requirements.
Gerresheimer is investing a mid-double-digit million Euro figure in the new plant in the North Macedonian capital of Skopje, an amount that is already included in the company’s medium-term investment plans. Construction is beginning in the first half of 2019, with completion scheduled for the first half of 2020. It is expected that start of production will take place in the second half of 2020.
Gerresheimer will use this year's Pharmapack held in Paris, Porte de Versailles, as a platform to unveil their latest ophthalmology and rhinology services at booth B62. The company has teamed up with select certified partners to add surface finishing of plastic dropper bottles to their irradiation services.
The Gerresheimer Group increased revenues at constant exchange rates by 8.8% in the third quarter of 2018, from EUR 335.0m in the prior-year quarter to EUR 364.4m. This includes EUR 3.5m from Sensile Medical, which was acquired in July 2018. On an organic basis—meaning adjusted for exchange rate effects and Sensile Medical—revenues went up by 7.8% relative to the prior-year quarter.
Gerresheimer's handy Duma Pocket tablet containers are well-known for being drugs containers that fit into any bag. Because they are oval, they don't take up much space. Another great feature is that it can't open itself when it's inside a bag. It’s irritating when this happens and the tablets become loose. This is also beneficial when sending the product to users in the mail.
Cosmetics packaging – Gerresheimer provides persuasive evidence through the appeal of glass
Gerresheimer belongs to the leading worldwide suppliers of glass for cosmetics. The company offers its visitors on May 10 and 11 at Luxepack 2017 in New York and at Beautyworld Middle East on May 14 up to 17 in Dubai the latest highlights out of enchanting new glass containers.
Gerresheimer introduces metal-free syringes
Biopharmaceuticals demonstrate a series of special features. They are often highly viscous and in individual cases tend to interact with silicone oil or, for example, tungsten residue from syringe production. Gerresheimer therefore offers integrated thin-walled cannulas for the improved emptying capability of the syringe for these applications.
Gerresheimer presents the first US bottle produced in multilayer at CPhI 2016
Gerresheimer is presenting an extension of our new multilayer plastic container, Duma Twist-Off Protect, at CPhI. Now the popular Triveni Round family has been extended by a 60 ml container with the multilayer features for the US market.
Highest quality vials: Gerresheimer consistently implements its vial machine strategy
Gerresheimer has set up an investment program spanning several years to install state-of-the-art converting machines for vial manufacturing at all its plants. The latest-generation machines and global high standards will enable it to meet even more stringent future requirements of product quality.
Gerresheimer banks on photovoltaics in Kundli, India
Being the leading global partner for the pharmaceutical and healthcare industries, Gerresheimer is committed to sustainability and environmental protection. The majority of Triveni Polymers in Kundli (India) belongs to the Gerresheimer Group since 2012.
- Jo Webb
- Company News
- Created 11 Jul 2018
- Modified 09 Jan 2019
- Hits 404