Cambrex to buy Bio Science Contract Production for $120 mill

Cambrex Corp has signed an agreement to acquire Bio Science ContractProduction Corp, a leading manufacturer of pharmaceutical ingredients and purified bulk biologics based in Baltimore, USA, for around $120 million in cash. This year, the latter firm is forecasting revenues of $35 million, an increase of 75% over 2000, while for 2002-2005, annual sales growth is targeted in the 20-30% range.

Cambrex said that Bio Science operates a state-of-the-art facility that has been successfully inspected by the US Food and Drug Administration and the European Medicines Evaluation Agency and has projects in place with 10 customers.