Aptar Enters into Agreement with Weihai Hengyu Medical Products to Add Elastomeric and Plastic Component Manufacturing Capabilities in China for Injectable Drug Delivery

AptarGroup, Inc. (NYSE: ATR), a global leader in drug delivery, consumer product dispensing and active material science solutions, announced today that it has entered into an agreement to acquire 80% of the equity interests of Weihai Hengyu Medical Products Co., Ltd., a leading Chinese manufacturer of elastomeric and plastic components used in injectable drug delivery.

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This acquisition supports Aptar’s strategic priority to strengthen capabilities in high-growth economies such as China, and enhances the company’s ability to respond to changing local market needs, which include regional manufacturing, a well-integrated supply chain and close proximity to customers and their patients. By adding local manufacturing capacity, this acquisition positions Aptar to capitalize on the growth potential in the Asian region, while further strengthening the company’s ability to serve local and global customers in the injectable drug market with best-in-class products and services, competitive lead times and technical support, all while leveraging Aptar’s global network.

Commenting on the transaction, Stephan B. Tanda, Aptar President and CEO, said, “This majority equity investment is a strategic step that strengthens our competitive position in Asia and in the high-growth injectable drug delivery market. This transaction will meet our disciplined investment approach and Hengyu’s capabilities are complementary to our growing portfolio of injectable solutions.”

Added Xiangwei Gong, President of Aptar Asia, “Acquiring Hengyu will be another critical milestone in the execution of the Aptar strategy in Asia, which is targeting growth in all our core markets including the injectable drug delivery market. We expect strong and long-term sustainable growth in this critical application field in Asia as more and more patients are prescribed medications in an injectable format for their safety, efficacy, availability and affordability.”

Wang Yingye, Co-Founder of Hengyu, stated, “Aptar is a world leader in drug delivery solutions. Hengyu shares the same vision as Aptar - to be a drug delivery expert, providing unique, high quality products to the healthcare industry. We are excited to have Hengyu join Aptar’s significant manufacturing footprint in China and in Asia.”