LSL Pharma Group Completes the Acquisition of Virage Sant?
BOUCHERVILLE, Québec, June 18, 2024 (GLOBE NEWSWIRE) -- LSL PHARMA GROUP INC. (TSXV: LSL) ("the Company" or "LSL Pharma"), a Canadian integrated pharmaceutical company, is pleased to announce the completion of the acquisition of Virage Santé ("Virage"), a company specializing in the manufacturing and marketing of natural health products ("NHPs"), based in Lévis, Quebec. This acquisition increases LSL Pharma's contract development and manufacturing activities, while creating synergies with its subsidiary LSL Laboratory Inc. ("LSL").
The purchase price of $2.5 million was paid in cash for the acquisition of Virage. The transaction includes an 8,000 sq ft manufacturing plant. The acquisition of Virage will boost LSL Pharma`s revenues by 15-20% annually, as well as broaden its client base which will benefit from the LSL Group`s expanded service offering.
In operation since 1994, Virage enjoys a great reputation for quality and services. It manufactures a range of NHPs in liquid, powder and capsule form, sold under its own brand or under private labels. Virage`s manufacturing activities include blistering, encapsulation, sachet and jar filling, will help expand LSL’s service portfolio.
"We are very pleased with this acquisition, which is in line with LSL Pharma's growth strategy of diversifying our service offering and increasing our contract manufacturing operations to better serve the pharmaceutical sector," says François Roberge, President and CEO. " The company will continue to operate from its current plant and will be supported by LSL Pharma's head office," concludes Mr. Roberge.
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ABOUT LSL PHARMA GROUP INC.
LSL Pharma Group Inc. is an integrated Canadian pharmaceutical company specializing in the development, manufacturing, and commercialization of high-quality sterile ophthalmic pharmaceuticals, as well as natural health products in solid dosage forms. For further information, please visit the following website www.groupelslpharma.com.
ABOUT VIRAGE SANTÉ INC.
For more information on the company, please visit www.viragesante.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CONTACT François Roberge President and Chief Executive Officer (514) 664-7700 E-mail: Investors@groupelslpharma.com OR Luc Mainville Executive VP & Chief Financial Officer (514) 664-7700 ext.: 301 E-mail : lmainville@groupelslpharma.com
