As of July 2013, Medicure has entered into an arrangement to acquire a minority interest in the pharmaceutical manufacturing business, Apicore (www.apicore.com). Medicure has acquired a 6.09% equity interest in the company, and has secured the option to purchase all issued shares within the next 3 years.
Apicore specializes in manufacturing difficult to synthesize, high value, and other niche active pharmaceutical ingredients ("APIs") for more than 80 different U.S. and international pharmaceutical companies. It offers a wide portfolio of services ranging from the manufacture of API's for the generic industry to branded products, and the development of ANDA and novel 505-B2 products.
The Apicore business includes two U.S. FDA-approved facilities. In the U.S., Apicore US LLC’s Somerset, New Jersey facility can produce a few grams up to 200 kg volumes. In India, the Vadodara, Gujarat facility of Apicore LLC can produce a few kilograms up to 60 metric tons yearly. Both facilities are equipped with state-of-the-art analytical and research capabilities.
Through the ongoing relationship with Apicore, Medicure aims to support and advance the business of Apicore, while also ensuring supply of it's own products and diversifying Medicure's assets.