Founded in 1977, Procaps is leading integrated international healthcare and pharmaceutical company that develops pharmaceutical and nutraceutical solutions, medicines and hospital supplies. We develop, manufacture and market OTC and Rx pharmaceutical products, nutritional supplements and clinical solutions. We have a direct presence in 13 countries in the Americas and over 4,900 employees working under our sustainable model, with customers located in over 50 countries, in six continents.
We are primarily engaged in developing, producing and marketing pharmaceutical solutions consisting of the following four products and services categories: (i) iCDMO, (ii) Rx pharmaceutical products, (iii) OTC products, and (iv) Diabetrics.
Our business model focuses on four strategic cornerstones to drive growth:
State-of-the-art manufacturing capabilities that allow us to provide innovative delivery technologies. Our corporate culture focuses on innovation and R&D, which has enabled us to offer extensive scientific expertise with more than 300 scientists, technicians and skilled personnel and over 500 formulations, allowing us to develop an average of over 150 new products, including more than 50 first time launch products, per year over the last three years.
Regional footprint and vertical integration enable organic growth opportunities and synergies. We currently operate six manufacturing facilities in Latin America, including the first FDA-approved pharmaceutical plant in South America and Central America, and sell and distribute products to over 50 markets. Additionally, on December 31, 2021, we acquired an FDA approved 86,000 square feet pharmaceutical production facility located in West Palm Beach, Florida from Strides Pharma, Inc., our first US-based Softgel production facility and R&D center.
Rx and OTC pharmaceutical product portfolio driven by our proprietary delivery systems, allowing us to focus on the development and sale of high-growth and premium pharmaceutical products which we believe are subject to less pricing pressures when compared to more generic pharmaceutical products.
Business development and M&A, which is evidenced by the development of one of our in-house business incubation, Diabetrics, which took place in 2015, and the acquisitions of Rymco S.A., Laboratorios Lopez, Biokemical S.A. de C.V, in 2012 and 2016.