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The $252-million acquisition is expected to strengthen Cambrex’s position as a small-molecule CDMO across the drug lifecycle.
On Jan. 3, 2019, Cambrex, a provider of generic APIs, small molecule, and finished dosage form products and services, announced that it completed the $252-million acquisition of Avista Pharma Solutions, a contract development, manufacturing, and testing organization, from Ampersand Capital Partners.
Cambrex reports that the transaction, announced in November 2018, strengthens Cambrex’s position as a small-molecule contract development and manufacturing organization (CDMO) across the entire drug lifecycle.
Avista’s four sites in Durham, NC; Longmont, CO; Agawam, MA; and Edinburgh, Scotland, UK will be integrated into Cambrex’s global network, as well as the company’s service offerings ranging from API and drug product development and cGMP manufacturing to stand-alone analytical, microbiology testing, and solid-state sciences.
In September 2018, Cambrex acquired Halo Pharma, adding formulation development and finished dosage manufacturing capabilities to Cambrex’s existing global API manufacturing network. With the acquisition of Avista, Cambrex now operates 12 facilities worldwide and employs approximately 2000 people.
“Acquiring Avista adds a full complement of early stage development capabilities to Cambrex’s larger scale capabilities for both APIs and finished dosage forms,” said Steve Klosk, president and CEO of Cambrex, in a company press release. “We are excited to start off 2019 integrating Avista into Cambrex’s global network of facilities. Adding Avista today and Halo Pharma in September significantly increases our customer base and funnel of projects, provides significant cross-selling opportunities and allows us to offer an integrated service offering for most small molecules from the pre-clinical stage through the commercial stage.”