China's Pharmaron acquires commercial API manufacturing facility in USA

China-based R&D service provider for the pharmaceutical and biotech industries Pharmaron Beijing (HK: 3759) has entered into a definitive asset purchase agreement to acquire the Coventry active pharmaceutical ingredients (API) manufacturing site in the USA from Noramco.

The transaction is expected to close upon the satisfaction of customary closing conditions and adds to Pharmaron’s previous production facility buys.

The Coventry Site in Rhode Island has an established history of cGMP API manufacturing from pilot kilogram to commercial metric ton scales. The state-of-the-art manufacturing facilities have been inspected and approved by the FDA, EMA and other regulatory authorities.