Questcor Pharmaceuticals to acquire BioVectra for around $50 million

California, USA-based Questcor Pharmaceuticals (Nasdaq: QCOR) has signed a definitive agreement to acquire all issued and outstanding shares of BioVectra for an upfront payment of C$50 million ($50.2 million). BioVectra is a supplier of contract manufacturing services to the global pharmaceutical and biotechnology industry and manufactures active pharmaceutical ingredients (APIs), chemical intermediates, and bioprocessing reagents.

Located in Prince Edward Island, Canada, BioVectra is a long-time partner to many of the industry's leading pharmaceutical companies. It has been Questcor's manufacturing partner for the API in Questcor's HP Acthar Gel (repository corticotropin injection) for nearly a decade. The acquisition will enable Questcor to further secure the manufacturing process trade secrets surrounding Acthar. BioVectra will continue to operate independently in Prince Edward Island, under its existing management team and Questcor intends to support the continued growth of BioVectra's business.

Further contingent payments of C$50 million possible