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Albany Molecular Research To Acquire ComGenex
Albany Molecular Research Inc. (Albany, NY, www.albmolecular.com), a provider of chemistry services to the pharmaceutical and biotechnologies industries, has signed a stock purchase agreement to acquire ComGenex (Budapest, Hungary, www.comgenex.com), also a provider of contract chemistry services to the life sciences industry.
ComGenex and its subsidiaries have 119 employees, including 88 scientific and technical staff. It generated contract revenues of $8.5 million in 2005.
“The acquisition of ComGenex further expands AMRI’s [Albany Molecular Research Inc.] global chemistry services platform,” said Thomas E. D’Ambra, chairman, president and CEO, AMRI, in announcing the transaction. “Very importantly, this combination creates an immediate presence in Europe in a EU member state with a significantly lower cost structure than Western European countries, while maintaining access to a comparable talent pool not only in Hungary, but all of Europe and neighboring regions.”
AMRI’s acquisition of ComGenex continues its plan to establish lower-cost international operations. Last year, AMRI started operations at its Singapore Research Center and Hyderabad Research Center in India.
Separately, AMRI’s request for a preliminary injunction in ongoing patent infringement litigation over “Allegra” (fexofenadine) has been denied.
Last September, AMR Technology Inc., a wholly owned subsidiary of AMRI, and Aventis Pharmaceutical Inc., the US pharmaceutical business of
Sanofi-Aventis SA (
), filed a motion for a preliminary injunction in the US District Court for the District of New Jersey to enjoin
Barr Pharmaceuticals Inc.
(Woodcliff Lake, NJ,
,Teva Phrmaceutical Industries Ltd.
(Petach Tikva, Israel,
Ranbaxy Laboratories Ltd
. (Gurgaon, India,
Amino Chemicals Ltd.
from the commercial production and distribution of generic fexofenadine products. AMRI says it is considering an appeal. A trial date for the patent suit has not yet been set, says AMRI.