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.

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