Questcor Pharmaceuticals acquire BioVectra

Questcor Pharmaceuticals to acquire BioVectra

11:48 AM, 8th January 2013
Questcor Pharmaceuticals to acquire BioVectra

ANAHEIM, US: Questcor Pharmaceuticals Inc has signed a definitive agreement to acquire all issued and outstanding shares of BioVectra Inc, for an upfront payment of C$50 million ($50.70 million). BioVectra is a supplier of contract manufacturing services to the global pharmaceutical and biotechnology industry and manufactures active pharmaceutical ingredients (API), chemical intermediates, and bioprocessing reagents.

The acquisition will enable Questcor to further secure the manufacturing process trade secrets surrounding Acthar. BioVectra will continue to operate independently in Prince Edward Island, under its existing management team and Questcor intends to support the continued growth of BioVectra’s business.

“We are excited to join efforts with BioVectra as we look to diversify our revenue. This action puts us in a better position to meet the continuing growth in demand for Acthar, brings to our company a broader depth of technical and scientific expertise, and provides us with a platform for potential international expansion,” said Don M Bailey, President and CEO, Questcor.

© WOC 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


Innospec acquires Strata Control Services

  LITTLETON, US: Innospec, through its subsidiary, has acquired Strata Control Services Inc, a private oil-field company. The transaction, which ...

Read more
Bayer gets approval for TDI facility in Dormagen, Germany

DORMAGEN, GERMANY: The Cologne district authority has granted Bayer MaterialScience the permit to build and operate the new high-tech facility for the ...

Read more
Enterprise ‘sells out’ propane dehydrogenation facility

HOUSTON, US: Enterprise Products Partners LP has executed long-term, fee-based agreements that effectively ‘sell out’ the partnership&rsqu ...

Read more
Aniline plant leak contaminates river in China

LUCHENG, CHINA: Nearly 9 tonne of aniline leaked by a chemical plant in north China’s Shanxi Province have ended up in the Zhuozhang River, affe ...

Read more
Rain CII Carbon completes acquisition of RUTGERS

TEXAS, US: Rain CII Carbon LLC US, has completed the previously announced acquisition of RUTGERS NV, a Belgium-headquartered Coal Tar Pitch (CTP) and ...

Read more
Dow restarts St Charles Olefins plant

MIDLAND, US: The Dow Chemical Company’s St Charles Olefins 2 Plant near Hahnville, Louisiana began producing on-spec ethylene on 25 December 2 ...

Read more