AMRI acquire Aptuit’s drug product development aseptic clinical manufacturing businesses

AMRI to acquire Aptuit’s drug product development and aseptic clinical manufacturing businesses

7:21 AM, 10th January 2015
AMRI to acquire Aptuit’s drug product development and aseptic clinical manufacturing businesses

ALBANY, US: Albany Molecular Research Inc (AMRI) has acquired the outstanding equity interests of Aptuit’s Glasgow, UK business and has entered into a definitive agreement to acquire Aptuit’s SSCI/West Lafayette, Indiana, US business for total consideration of $60 million, expanding AMRI’s drug product development and aseptic clinical manufacturing capabilities. In addition, Aptuit’s Glasgow facility will extend AMRI’s capabilities platform to include sterile injectable drug product formulation and clinical stage manufacturing.

Under terms of the agreement, AMRI has paid $24 million for the Glasgow business. Subject to certain closing conditions, AMRI will pay the remaining $36 million for the West Lafayette business and will assume certain liabilities related to that subsidiary. AMRI expects to complete the transaction early in the first quarter of 2015. AMRI is financing the transaction with cash on hand and borrowings under its expanded $75 million revolving credit facility. The Aptuit businesses are expected to contribute $25 to $30 million to AMRI's revenue and $5 to $7 million to adjusted EBITDA in 2015, implying a purchase price multiple of two times 2015 revenue at the top end of the range.

“We are pleased to acquire these two facilities from Aptuit, which will further AMRI’s expertise in drug product development and aseptic manufacturing services, two areas of our business where we are seeing the fastest level of growth. Analytical Services sits at the interface of API and Drug Product, providing critical support for all aspects of pharmaceutical development and manufacturing. The West Lafayette team brings extensive material science knowledge and technology and will expand our capabilities in analytical testing to include peptides, proteins and oligonucleotides,” said William S Marth, President and Chief Executive Officer, AMRI.

“Aptuit’s Glasgow operation strengthens our front end formulation expertise in our sterile injectable business, further extending our parenteral offerings and providing customers a single source to address their sterile fill/finish needs from formulation complete to commercial supply. In addition, having a Glasgow base of operations provides us with an expanded footprint and customer base in Europe for our parenteral offerings, furthering one of our strategic goals,” added Marth.

 

© Worldofchemicals News

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Nippon Shokubai closes manufacturing plant at Suita, Japan

TOKYO, JAPAN: Nippon Shokubai Co Ltd announced that at the end of 2014 it ceased manufacturing at its Suita Plant in the city of Suita, Japan, a produ ...

Read more
MeadWestvaco plans to separate specialty chemicals business

RICHMOND, US: MeadWestvaco Corporation (MWV), a global leader in packaging and packaging solutions, has approved a plan to fully separate its Specialt ...

Read more
Indorama to acquire Polyplex’s PET resin plant in Turkey

BANGKOK, THAILAND: Indorama Ventures PCL (IVL), one of the world’s foremost petrochemical producers, has reached a definitive agreement with Pol ...

Read more
Scientists create first new antibiotic in nearly three decades

LONDON, UK: In a massive breakthrough, scientists have created the first new antibiotic in more than three decades, Teixobactin, that can treat many c ...

Read more
Novel nanowire clothing could keep people warm

WASHINGTON DC, US: To stay warm when temperatures drop outside, we heat our indoor spaces - even when no one is in them. But scientists have now devel ...

Read more
Jacobs to upgrade BP’s PTA plants in Geel, Belgium

PASADENA, US: Jacobs Engineering Group Inc has received a contract from BP Chembel NV for basic and detailed engineering services to upgrade its facil ...

Read more