AMRI Acquires Whitehouse Laboratories; Partners with MultispanBy
AMRI has acquired all the outstanding equity interests of Whitehouse Laboratories, a provider of testing services that includes chemical and material analysis, method development, and validation and quality control verification services to the pharmaceutical, medical device and personal care industries. Total consideration is $54 million in cash, and an additional $2 million in shares of AMRI common stock contingent upon Whitehouse Labs achieving certain 2015 targets.
Whitehouse Labs, based in Lebanon, New Jersey, operates an analytical and testing business with 2015 estimated revenue of approximately $11 million. Whitehouse Labs will continue to operate independently within AMRI’s Discovery and Development Services segment.
In other news, AMRI has signed a collaboration agreement with biotechnology company Multispan Inc. to co-market their G protein-coupled receptor (GPCR) drug discovery services to global pharmaceutical and biotechnology clients. As part of the three-year agreement, AMRI gains access to Multispan’s differentiated GPCR cell lines, assay capabilities, and expertise. Multispan’s customers will benefit from AMRI’s global integrated drug discovery solutions, including high-throughput screening and discovery medicinal chemistry services.