Cambrex Completes Acquisition of CDMO Avista Pharma Solutions for $252 MillionBy
Cambrex, a contract manufacturer of small-molecule active pharmaceutical ingredients and drug products, has completed its previously announced acquisition of Avista Pharma Solutions, a Durham, North Carolina-headquartered contract testing, development, and manufacturing organization, for approximately $252 million. Cambrex had announced the acquisition in late November 2018.
With this acquisition, Cambrex gains capabilities for early-stage small-molecule development and testing services. Avista offers a suite of services ranging from API and drug-product development and cGMP manufacturing to stand-alone analytical, microbiology testing and solid-state sciences. The acquisition of Avista supports Cambrex as a fully integrated small-molecule contract development and manufacturing organization across the entire drug lifecycle.
Avista operates four facilities located in the following: Durham, North Carolina; Longmont, Colorado; Agawam, Massachusetts; and Edinburgh, Scotland; in total comprising over 200,000 square feet of space.
This is the second recent large-scale acquisition by Cambrex. In September (2018), it completed its acquisition of Halo Pharma, a Whippany, New Jersey-headquartered contract development and manufacturing organization, for approximately $425 million. The addition of Halo added formulation development and finished dosage manufacturing capabilities to Cambrex’s existing global API manufacturing network. With the acquisitions of Avista and Halo, Cambrex now operates 12 facilities around the globe and employs approximately 2,000 people.