Cambrex to Acquire PharmaCore for $25 Million
Cambrex has agreed to acquire PharmaCore, a High Point, North Carolina-based company specializing in developing and manufacturing small-molecule active pharmaceutical ingredients (APIs), for approximately $25 million.
PharmaCore develops and produces APIs and intermediates in batch sizes from milligrams to 100 kilograms 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.
The acquisition will enhance Cambrex’s portfolio of small-molecule API services and complements its existing large-scale, multi-purpose manufacturing facilities in the US and Europe. Through the end of 2016, Cambrex will have invested more than $200 million in capital projects within PharmaCore’s existing facilities, including a recently completed $50-million production and warehousing expansion of Cambrex’s large-scale US API facility in Charles City, Iowa, and a $9-million investment to expand large-scale manufacturing capacity at its facility in Karlskoga, Sweden, which is expected to be completed shortly.
PharmaCore’s North Carolina facility has a 15,000-square-foot chemistry laboratory and a 13,000-square-foot pilot plant, with reactor capacity ranging from 20 liters to 2,000 liters, with supporting GMP analytical services.
The completion of the transaction is subject to customary closing conditions and is expected to occur within 30 days of September 26, 2016.