 "AMRI buys Italian API maker Euticals for $ 358 mn")
AMRI has signed a definitive agreement to acquire Prime European Therapeuticals SpA, also known as Euticals, in a transaction valued at approximately $ 358 million (Euro 315 million), consisting of shares of AMRI common stock, cash, and a seller note.
Euticals is a privately-held company headquartered in Lodi (Italy), specialising in custom synthesis and the manufacture of active pharmaceutical ingredients (APIs). It operates a network of API facilities primarily in Italy, Germany, US and France.
"The acquisition of Euticals will provide us an established custom synthesis presence in Europe and will further build on our expertise in complex APIs, positioning AMRI as a preeminent provider of contract research, development and manufacturing services to the pharmaceutical industry,” said William Marth, president and chief executive officer, AMRI.
Euticals' expertise with niche and high barrier to entry technologies and products, including certain tetracyclines, monobactams, sterile and fermented APIs and controlled substances, will be an asset to AMRI. Additionally, Euticals' large base of over 400 customers will provide AMRI with a number of new large pharma, biotech and generics partners, further extending its global reach and diversifying the revenue.
Albany Molecular Research Inc (AMRI), a global contract research and manufacturing organisation, has been working with the life sciences industry to improve patient outcomes and the quality of life for more than two decades. With locations in North America, Europe and Asia, its key business segments include discovery and development services (DDS), active pharmaceutical ingredients (API), and drug product manufacturing (DPM).
Euticals is a privately-held company headquartered in Lodi (Italy), specialising in custom synthesis and the manufacture of active pharmaceutical ingredients (APIs). It operates a network of API facilities primarily in Italy, Germany, US and France.
"The acquisition of Euticals will provide us an established custom synthesis presence in Europe and will further build on our expertise in complex APIs, positioning AMRI as a preeminent provider of contract research, development and manufacturing services to the pharmaceutical industry,” said William Marth, president and chief executive officer, AMRI.
Euticals' expertise with niche and high barrier to entry technologies and products, including certain tetracyclines, monobactams, sterile and fermented APIs and controlled substances, will be an asset to AMRI. Additionally, Euticals' large base of over 400 customers will provide AMRI with a number of new large pharma, biotech and generics partners, further extending its global reach and diversifying the revenue.
Albany Molecular Research Inc (AMRI), a global contract research and manufacturing organisation, has been working with the life sciences industry to improve patient outcomes and the quality of life for more than two decades. With locations in North America, Europe and Asia, its key business segments include discovery and development services (DDS), active pharmaceutical ingredients (API), and drug product manufacturing (DPM).
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