Alora Pharmaceuticals announced that its wholly owned subsidiary, Sovereign Pharmaceuticals, has acquired, through bankruptcy proceedings, substantially all of Monarch PCM’s manufacturing capabilities located in Fort Worth, TX. The acquisition, which closed on January 4, 2022, included all of Monarch’s equipment at the site along with an assignment of the leased space, which is located in the same complex as Sovereign’s main facility. The synergy of the acquired equipment and proximity to Sovereign’s current operations will allow Sovereign to expand its current operations into the new footprint after some renovation.

“The acquisition of the Monarch assets will significantly improve our ability to manufacture solid, semi-solid and liquid manufacturing in large volumes,” said Art Deas, CEO of Alora. “We are also excited to welcome the majority of Monarch’s former employees into our family, where their added expertise and familiarity with the acquired space and equipment will be invaluable. This is a strategic acquisition that will provide significant opportunities for Alora and our contract manufacturing volume and capabilities.”

This acquisition will add 60,000 sq. ft. of manufacturing space that will bring Alora’s total manufacturing footprint to over 300,000 sq. ft. In addition, this acquisition will add 48 employees to the employee base of Alora and its subsidiaries across the U.S.