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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 (
Paris, France,
www.sanofi-aventis.com
), 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,
www.barrlabs.com
)
,Teva Phrmaceutical Industries Ltd.
(Petach Tikva, Israel,
www.tevapharm.com
),
Ranbaxy Laboratories Ltd
. (Gurgaon, India,
www.ranbaxy.com
), and
Amino Chemicals Ltd.
(Marsa, Malta
)
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.