Mundipharma

Mundipharma International Limited
Company typePrivate
IndustryPharmaceutical
Founded1952; 72 years ago (1952)
Founders
HeadquartersCambridge Science Park,
Cambridge
,
England, United Kingdom
Area served
Worldwide
Key people
Marc Princen (chairman & CEO)
Products
Revenue274 Mil. EUR[1]
Number of employees
2,705 (as of 2022)
Websitewww.mundipharma.com

Mundipharma International Limited is a British multinational research-based pharmaceutical company owned by members of the Sackler family with locations in United Kingdom, Canada, Germany, and Singapore.[2] In Germany, Mundipharma is a subsidiary of Mundipharma International Limited and Mundipharma AG. Its global headquarters is located at the Cambridge Science Park of Cambridge, England.

History

The company was founded in 1967 in Frankfurt, Germany by the brothers Raymond and Mortimer Sackler, the owners of Purdue Pharma at the time. Between 1970 and 1974 two pharmaceutical companies were acquired.[3] It was the chemical-pharmaceutical factory Krugmann GmbH and the pharmaceutical factory Dr. med. Hans Voigt GmbH.[4] In 1975 the company moved to Limburg an der Lahn in Germany.

The first factory building was designed in 1973 by architect Marcel Breuer and built in the Dietkircher Höhe industrial park. The last completion of a structural expansion took place in 2010.

The company is exploring a sale as part of the Purdue Pharma bankruptcy process and Sackler family settlement.[5] It could fetch as much as $5 billion according to Bloomberg News.[6]

Organization structure

The research area is outsourced to the following companies:

  • Mundipharma Research GmbH & Co. KG, Limburg an der Lahn (closed in 2018)[7]
  • Mundipharma Research Ltd., Cambridge

Criticism

Tobacco industry collaboration

Mundipharma has been condemned[8] by healthcare professionals for its April 16th 2024 announcement[9] that it had entered into a collaboration with Vectura, a company owned by Tobacco Transnational Philip Morris.

Opioid marketing

In relation the opioid epidemic Mundipharma has been criticized for using similar methods to Purdue Pharma to sell opioids in Europe.[10][11]

References

  1. ^ Mundipharma Verwaltungsgesellschaft mit beschränkter Haftung. "Bundesanzeiger − Bilanz zum 31. Dezember 2016" (in German). Retrieved 28 November 2018.
  2. ^ "Get in touch". Mundipharma. Retrieved 13 May 2021.
  3. ^ "Mundipharma: Geschichte". Archived from the original on 13 August 2009. Retrieved 13 May 2021.
  4. ^ Dun & Bradstreet Limited (Hrsg.): Who owns whom. Who Owns Whom Publications Division Verlag, 1984, S. 246
  5. ^ Wu, Kane (5 May 2021). "Sackler-owned Mundipharma seeks bids for China unit in over $1 billion deal -sources". Reuters. Retrieved 16 July 2021.
  6. ^ Baigorri, Manuel (13 January 2020). "Sackler-Owned Mundipharma Taps Deutsche Bank for Sale". Bloomberg News.
  7. ^ "Mundipharma schließt Produktion in Deutschland". healthcaremarketing.eu. Archived from the original on 2 March 2022.
  8. ^ Capstick, Toby (28 April 2024). "Why is Mundipharma renewing a partnership with big tobacco?". Twitter. Retrieved 30 April 2024.
  9. ^ "Mundipharma and Vectura announce plans to reformulate flutiform® (fluticasone propionate/formoterol fumarate) pressurised metered-dose inhaler (pMDI) as a commitment to reducing the product's carbon footprint". www.businesswire.com. 16 April 2024. Retrieved 30 April 2024.
  10. ^ Davies, Madlen; Boytchev, Hristio; Ovalle, David (17 September 2024). "In the U.S., opioid-maker Purdue is bankrupt. Its global counterparts make millions". www.msn.com. Retrieved 18 September 2024.
  11. ^ Al-Youssef, Muzayen; Christoph, Maria; Kollig, Dajana; Lorenz, Laurin; Matzenberger, Michael (17 September 2024). "Opium für den Schmerz - Warum die Opioidkrise Österreich nicht verschont hat". derstandard.shorthandstories.com (in German). Retrieved 18 September 2024.