Date: 2016-10-07
Type of information: Company acquisition
Acquired company: PharmaCore (USA - NC)
Acquiring company: Cambrex (USA - NJ)
Amount: $25 million
Terms:
- • On October 7, 2016, Cambrex, a manufacturer of small molecule innovator and generic Active Pharmaceutical Ingredients (APIs), announced that it has completed the acquisition of PharmaCore, a privately-owned company located in High Point, North Carolina, specializing in developing, manufacturing and scaling up small molecule APIs for clinical phase projects. This completes the transaction initially announced on September 26, 2016.
Cambrex to Acquire PharmaCore Inc., to Expand Clinical Stage API Capabilities
- • On September 26, 2016, Cambrex Corporatio announced that it has agreed to acquire PharmaCore for approximately $25 million. PharmaCore is currently generating $15 to $17 million per year in revenues and just over two million dollars per year in EBITDA. Cambrex expects the transaction, net of deal fees, to have a neutral impact on earnings per share in 2016 and to be accretive in 2017.
- The completion of the transaction is subject to customary closing conditions, and is expected to occur within 30 days. PharmaCore was advised on this transaction by Wombat Capital Markets, LLC.
Details:
- With the acquisition of PharmaCore, which has been renamed Cambrex High Point, Cambrex enhances its capabilities and expertise to efficiently develop early clinical phase products and new technologies.
- PharmaCore is a privately-owned company specializing in developing, manufacturing and scaling up small molecule APIs for clinical phase projects. PharmaCore was founded in 1999 and occupies a 35,000 sq. ft. GMP site in High Point, North Carolina, USA. This facility has a 15,000 sq. ft. chemistry laboratory and a 13,000 sq. ft. pilot plant, with reactor capacity ranging from 20L to 2000L, with supporting GMP analytical services. The company develops and produces complex APIs and intermediates requiring multi-step synthetic processes in batch sizes from milligrams to 100 kg to support clinical trials from Phase I to Phase III. The company is licensed with the US Drug Enforcement Administration (DEA) to manufacture Schedule II to Schedule V controlled substances. PharmaCore has more than 60 full time employees, focused on projects at laboratory and pilot plant scale, with nearly 40 lab-based Process and Analytical Chemists, the majority of whom hold PhDs.
Related: Technology - Services
Is general: Yes
