Nivagen Sells MedisourceRx Unit to Hims & Hers to Fund New CDMO Facility

• Nivagen Pharmaceuticals sold its MedisourceRx unit to Hims & Hers Health, with the proceeds funding a new sterile manufacturing facility.

• Nivagen’s new facility will focus on reshoring production and entering the CDMO market.

Nivagen Pharmaceuticals, Inc. has announced the sale of its MedisourceRx business unit to Hims & Hers Health, Inc.. The sale is part of a broader strategic plan by Nivagen to enhance its manufacturing capabilities. MedisourceRx, an FDA-registered 503B outsourcing facility, will become a key asset for Hims & Hers as they continue expanding their healthcare offerings.

The proceeds from the sale will be used by Nivagen to build a 100,000-square-foot sterile manufacturing and R&D facility in Sacramento. This state-of-the-art facility will allow the company to reshore its sterile product manufacturing, streamlining its supply chain and reducing both costs and time to market. he new facility will also mark Nivagen’s entry into the contract development and manufacturing organisation (CDMO) market, aiming to improve operational efficiency.

Jay Shukla, CEO of Nivagen, commented on the sale: “The proceeds from this sale will enable Nivagen to sharpen its focus on its upcoming state-of-the-art sterile injectable manufacturing facility. Additionally, the move will allow Nivagen to focus on the ANDAs and 505(b)(2) pipeline, further advancing its growth strategy.”