East Rutherford-based Cambrex Corp., a life sciences company that provides products and services for small molecule therapeutics and generic active pharmaceutical ingredients, entered into a definitive agreement to acquire Avista Pharma Solutions, a contract development, manufacturing and testing organization, for about $252 million.
Avista is a portfolio company of Ampersand Capital Partners, a health care-focused private equity firm.
In a statement, Cambrex said that with the acquisition, Cambrex will enter the large and growing market for early stage small-molecule development and testing services.
Avista, for its part, offers a broad suite of scientifically differentiated services ranging from API and drug product development to standalone analytical, microbiology testing and solid-state sciences.
Want to publish your own articles on DistilINFO Publications?
Send us an email, we will get in touch with you.
“We are excited to announce our acquisition of Avista, which further rounds out our small molecule service offering by adding a full complement of early stage development capabilities for both API and finished dosage form as well as comprehensive analytical testing services,” said Steve Klosk, president and CEO of Cambrex, in a statement. “The addition of Avista further underscores our commitment to providing the broadest possible range of world class services to our global customer base.”
Date: November 26, 2018
Source: NJBIZ
