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Aptuit To Purchase Quintiles
In a $125-million deal, Aptuit (Greenwich, CN) has agreed to buy three Quintiles Transnational (Research Triangle Park, NC) business units: the Pharmaceutical Sciences contract manufacturing and formulation development group, the Packaging and Logistics group, and the Preclinical Services group.
The three units now employ 1,400 (primarily in Kansas City, MO; Mt. Laurel, NJ; Edinburgh, Scotland, and Singapore) and provide services to 19 of the world's 20 largest drug companies, according to a joint statement issued Tuesday.
The statement quoted Aptuit CEO Michael A. Griffith as saying, "These business lines constitute a premier business that will form the foundation for our comprehensive drug development services offering. We gain an industry-leading team with the right expertise for our business model, a world-class customer base, GMP/GLP facilities, and a range of technologies to support and help drive drug development. From a technical and operational standpoint, the transition to Aptuit will be virtually seamless to employees and customers."
Aptuit reportedly intends to invest $50 million in reorganizing and developing the acquired businesses over the next several years.
The deal also includes a multi-year joint-marketing deal between the two companies.