AMRI acquiring Cedarburg Pharmaceuticals Inc shares $38.2 million in cash

AMRI to acquire Cedarburg Pharmaceuticals for $38.2 million

9:54 AM, 25th March 2014
AMRI acquiring Cedarburg Pharmaceuticals Inc shares

ALBANY, US: AMRI has signed a definitive agreement to acquire all the outstanding shares of Cedarburg Pharmaceuticals, Inc for $38.2 million in cash. The transaction, including $2.8 million of assumed liabilities, is valued at $41 million. Cedarburg Pharmaceuticals is a contract developer and manufacturer of technically complex active pharmaceutical ingredients (API’s) for both generic and branded customers. The transaction is consistent with AMRI’s strategy to be the preeminent supplier of custom and complex drug development services and product to both the branded and generic pharmaceutical industry.

“We are very excited to be joining efforts with Cedarburg as they bring a unique blend of expertise in complex API, a scalable business infrastructure and extensive customer relationships that will augment our existing capabilities and services. This transaction represents an important first step in building out our API capabilities, broadens our offerings and customer base and provides us with an ideal platform to pursue additional value creation opportunities,” said William S Marth, President and Chief Executive Officer, AMRI.

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