Nivagen Pharmaceuticals, Inc., a specialty pharmaceuticals company, has sold its MedisourceRx business unit to Hims & Hers Health, Inc., a prominent health and wellness company. Bourne Partners served as the exclusive financial advisor to Nivagen in this transaction.
 
The MedisourceRx business unit is an FDA-registered 503B outsourcing facility. It will become a valuable asset to Hims & Hers as they continue to expand their offerings in the healthcare market. The proceeds from the sale will be utilized by Nivagen to complete the construction of a 100,000 square foot state-of-the-art sterile manufacturing and research and development facility. This new facility will enable Nivagen to bring its production capabilities back onshore, positioning the company to enter the contract development and manufacturing organization (CDMO) business.
 
By reshoring its sterile product manufacturing, Nivagen aims to streamline its supply chain and significantly reduce both manufacturing costs and time to market for new product launches. This strategic move aligns with the company’s broader goal of enhancing its operational efficiency and competitiveness in the pharmaceutical industry.
 
“In a strategic move, Nivagen has sold its subsidiary, Seaview Enterprises LLC, dba MedisourceRx, an FDA-registered 503B sterile compounding pharmacy in California. The proceeds from this sale will enable Nivagen to sharpen its focus on its upcoming state-of-the-art sterile injectable manufacturing facility in Sacramento,” said Jay Shukla, CEO of Nivagen. “Additionally, the move will allow Nivagen to focus on the ANDAs and 505(b)(2) pipeline, further advancing its growth strategy.”