Name

SPI Pharma

Legal name

SPI Pharma, Inc.

Website

https://spipharma.com

Company type

Private

Founded year

1964

Operating status

Operating

Headcount range

251–500 employees

Ownership category

akta.pro rank

Product category

Pharmaceutical Excipients

NAICS

Pharmaceutical Preparation Manufacturing (325412), Biological Product (except Diagnostic) Manufacturing (325414), Pharmaceutical and Medicine Manufacturing (3254)

SIC

Pharmaceutical Preparations (2834), Biological Products, (No Disgnostic Substances) (2836)

akta.pro primary industry

Vaccine Adjuvants & Formulation Systems (HLAIAEAI)

akta.pro secondary industries

Compounding Ingredient & API Distributors (Pharma Supply) (HLAIAJAO), Multivitamins & Daily Packs (CRADAGAC), Probiotics & Digestive Health Supplements (CRADAGAF)

Keywords

• Pharmaceutical excipients
• Drug delivery systems
• Vaccine adjuvants
• Taste masking solutions
• Antacid actives

Headquarters

HQ city

Wilmington

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Technology or R&D, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Pharmaceutical Excipients and Actives: Sale of functional excipients, antacid actives, mineral supplement ingredients, and directly compressible ingredients to pharmaceutical and dietary supplement manufacturers for use in solid oral dosage forms.
2. Drug Delivery Systems: Sale of proprietary drug delivery platform technologies including ODT systems, taste-masking systems, and effervescent formulations to pharmaceutical companies for incorporation into final drug products.
3. Vaccine Adjuvants: Supply of vaccine adjuvant products including saponin-based adjuvants (QS-21), aluminum adjuvants, and TLR4 agonists to vaccine developers and manufacturers for use in human and veterinary vaccines.
4. Technical Services and Formulation Development: Pharmasolutions technical service offerings including formulation development support, regulatory expertise, data packages, and cGMP compliance support to assist customers in bringing products from concept to commercialization.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

SPI Pharma manufactures and supplies pharmaceutical excipients, antacid and digestive aid actives, mineral supplement ingredients, drug delivery systems, taste-masking technologies, and vaccine adjuvants for oral solid dosage forms. The company sells functional ingredients, directly compressible excipients, ODT platforms, effervescent systems, and saponin- and TLR4-based adjuvants to pharmaceutical, dietary supplement, and vaccine manufacturers worldwide, complemented by Pharmasolutions formulation development and regulatory support services.

Differentiator

Problem solved

Functional benefit

Products and services

• ACTILLETS MCC and TAP Tartaric Acid Pellets Pellet-based functional excipient combining microcrystalline cellulose with tartaric acid for specialized pharmaceutical drug delivery applications, sold to pharmaceutical manufacturers.
• Effer-Soda Pre-formulated effervescent excipient system that simplifies development of effervescent pharmaceutical products, delivering reliable performance across packaging formats.
• Mannogem Mannitols Extended line of mannitol products designed for challenging direct compression formulations with high-performance characteristics to improve patient experience.
• Lubripharm SSF Sodium Stearyl Fumarate lubricant offering superior performance compared to magnesium stearate, particularly in orally disintegrating formulations.
• Lubripharm Pro SSF Next-generation sodium stearyl fumarate lubricant providing stable performance, better compaction, and reliable manufacturability for sensitive patient-centric formulations; launched globally via SPI and Anek Prayog strategic partnership.
• Sorbitol Special Premium sorbitol-based plasticizer for softgel capsules that enhances stability, premium appearance, and reduces production costs.
• DC Sugars (Advantose 100) Directly compressible sugar excipients, including Advantose 100, used as functional ingredients in chewable, lozenge, and other tablet formulations.
• Antacid Actives Portfolio of preformulated antacid active compounds including aluminum hydroxide gels and powders, aluminum phosphate, boehmite gel, magnesium hydroxide powders/pastes/gels, magaldrate, and DC calcium carbonate and magnesium hydroxide powders, sold to antacid manufacturers.
• Mineral Supplement Ingredients (MS90, CS90, CM90, Vitasmooth) Directly compressible mineral supplement ingredients including DC magnesium hydroxide with starch (MS90), DC calcium carbonate with starch (CS90), DC calcium carbonate with maltodextrin (CM90), and Vitasmooth DC calcium carbonate with excipients.
• Pharmaburst 500 Globally trusted orally disintegrating tablet (ODT) drug delivery platform that enables rapid disintegration, excellent mouthfeel, and simplified manufacturing for pharmaceutical manufacturers.
• UltraBurst Next-generation orally disintegrating tablet excipient platform delivering unmatched disintegration speeds with superior tablet hardness and manufacturing efficiency.
• Pharmasperse Innovative orally dispersible powder platform designed for sachet and stickpack dosage formats with patient-centric benefits.
• Advantol 300 Direct compression excipient system designed for swallow tablet manufacturing and related tableting applications.
• Compressol ProTab High-performance direct compression binder that boosts drug loading, preserves probiotics, protects moisture-sensitive actives, and supports versatile dosage formats.
• Compressol SM Direct compression binder system supporting swallow tablet formulations with excipient functionality.
• S-Tab Preformulation for Tablets Preformulation system supporting tablet manufacturing for pharmaceutical customers.
• Digestive Aid Actives Active ingredients for digestive aid products including magnesium hydroxide pastes, gels, powders and resuspendible powder, as well as DC simethicone powder.
• Actimask Acetaminophen Taste-masked acetaminophen active using SPI Pharma's Actimask taste-masking technology, designed for palatable oral dosage pharmaceutical products.
• Actimask Ibuprofen Taste-masked ibuprofen active using SPI Pharma's Actimask taste-masking technology, designed for palatable oral dosage pharmaceutical products.
• Vaccine Adjuvant Systems Vaccine adjuvant systems including advanced adjuvant systems and alum-based adjuvants used in human and veterinary vaccine development.
• QS-21 GH and QS-21 XP Saponin-Based Adjuvants Purified saponin-based vaccine adjuvants derived from Quillaja biomass, including cost-effective QS-21 GH and high-purity QS-21 XP grades, used as critical components in FDA- and WHO-approved vaccines such as Shingrix, Mosquirix, and Arexvy.
• INI-2002 TLR4 Synthetic Agonist Fully synthetic, GMP-grade TLR4 agonist developed by Inimmune Corporation and offered by SPI Pharma, with comparable or superior performance to MPL and significantly improved chemical stability for advanced vaccine formulations.
• Silicalit Silicalite-based catalyst carrier supplied for industrial applications and processes.
• Aloxsilit Aluminum-based catalyst carrier supplied for industrial applications and processes.
• Pharmasolutions Technical Service Full-service technical offering including formulation development, technical service, data packages, regulatory expertise, and cGMP compliance support, helping pharmaceutical customers bring products from concept to commercialization.

Quantifiable outcome

• 60+ commercially launched and marketed drugs globally
• +1 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature11 records

Partnerships

Three partnerships are on record, tiered core and flagship.

• Q-Vant BiosciencescoreStrategic or Co-development Partner · 13 October 2023SPI Pharma and Q-Vant Biosciences announced a strategic partnership including investment to expand Q-Vant's proprietary 100% sustainable Q-SAP technology, and signing of an exclusive commercial agreement to accelerate global adoption of high-purity saponin adjuvants for veterinary and human vaccine formulations. The partnership combines Q-Vant's leadership in sustainable saponin extraction with SPI's global pharmaceutical reach and expertise.
• Inimmune CorporationcoreTechnology or IntegrationThrough partnership with Inimmune Corporation, SPI Pharma offers INI-2002, a fully synthetic, GMP-grade TLR4 agonist. The partnership enables licensing and access to advanced adjuvant technologies for next-generation vaccine development with reliable quality and commercial scalability.
• Anek PrayogflagshipStrategic or Co-development PartnerSPI and Anek Prayog formed a strategic partnership for the global launch of Lubripharm Pro Sodium Stearyl Fumarate. This represents a key strategic partnership for bringing the new lubricant product to market globally.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• DFE Pharma: DFE Pharma specializes in high-quality excipients for inhalation, ODT, and oral solid dose formulations, directly competing with SPI Pharma's Pharmaburst, UltraBurst, and functional excipient portfolio across pharma and nutraceutical customers.
• Roquette: Roquette is a global leader in pharmaceutical excipients (starches, mannitols, cyclodextrins, microcrystalline cellulose) with direct overlap to SPI Pharma's Pharmaburst ODT, Mannogem mannitol, and ACTILLETS MCC product lines serving the same pharmaceutical customers.
• Seppic (Air Liquide): Seppic is a leading developer and manufacturer of vaccine adjuvants (including saponin-based Montanide and Squalanoyl platforms) and pharmaceutical excipients, directly competing with SPI Pharma's QS-21 saponin adjuvant franchise and broader vaccine adjuvant business.
• ABITEC Corporation: ABITEC is a sister company under AB Ingredients/ABFI alongside SPI Pharma, specializing in lipid-based excipients and surfactants for pharmaceutical formulations; together they share the same parent and overlapping customer base in pharma excipients.

Broad incumbents

• Merck KGaA (Life Science): Merck KGaA's Life Science division supplies a broad range of pharmaceutical excipients, formulation ingredients, and bioprocessing solutions, with significant overlap to SPI Pharma's excipient and formulation support offerings.
• BASF Pharma Solutions: BASF's Pharma Solutions business offers a broad portfolio of functional excipients (solvents, polymers, surfactants) and APIs, overlapping with SPI Pharma's excipient offerings to pharmaceutical manufacturers across many dosage forms.
• Croda International: Croda's Life Sciences division provides specialty excipients and acquired vaccine adjuvant assets (including saponin technology), making it both a broad incumbent in pharma ingredients and a direct competitive threat in the adjuvant market.
• Evonik Health Care: Evonik supplies specialty excipients, polymers, and API/intermediates to the pharmaceutical industry, overlapping with SPI Pharma's functional excipient and drug delivery platform offerings for oral solid dose customers.
• IFF (Health & Biosciences): IFF's Health & Biosciences division (including the legacy DuPont Nutrition & Biosciences pharma excipients business) provides a broad portfolio of pharma-grade excipients and microbial-derived ingredients, competing with SPI Pharma across multiple excipient categories.

Emerging players

• Meggle Pharma: Meggle Pharma specializes in lactose-based excipients for direct compression and ODT formulations, directly competing with SPI Pharma's Pharmaburst, ACTILLETS MCC, and DC Sugar product lines for oral solid dose excipient customers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/spi-pharma_2

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SPI Pharma