Cambrex to acquire Avista Pharma Solutions

In what is a second buy this year for the company, Cambrex Corp (NYSE: CBM), a manufacturer of active pharmaceutical ingredients (APIs) and finished dosage forms, announced it has entered into a definitive agreement to acquire fellow USA-based Avista Pharma Solutions, a contract development, manufacturing, and testing organization.

The value of the deal is approximately $252 million in cash. Completion of the transaction is subject to customary closing conditions and is expected to occur during the fourth quarter of 2018.

Avista is a portfolio company of Ampersand Capital Partners. With this acquisition, Cambrex will enter the large and growing market for early stage small molecule development and testing services. Avista offers a broad suite of scientifically differentiated services ranging from API and drug product development and cGMP manufacturing to stand-alone analytical, microbiology testing and solid state sciences. The acquisition of Avista further strengthens Cambrex’ position as the leading fully integrated small molecule contract development and manufacturing organization (CDMO) across the entire drug lifecycle.