AMRI completes acquisition of Italian API maker Euticals

Albany Molecular Research Inc (AMRI) has completed the acquisition of Prime European Therapeuticals SpA, also known as Euticals, a privately-held company headquartered in Lodi, Italy, specialising in custom synthesis and the manufacture of active pharmaceutical ingredients (APIs). This completes the transaction initially announced on May 5, 2016.
 
The acquisition positions AMRI as one of the largest independent developers and suppliers of API to the pharmaceutical industry, and in particular, provides the company with an established custom synthesis presence in key European markets.
 
William Marth, president and chief executive officer, AMRI, said, “This significantly expands AMRI's customer base, further diversifies our revenue streams, and moves us significantly closer to our goal of reaching $ 1 billion in annual revenues by 2018. The Euticals acquisition accelerates our company's strategy to become a global, preeminent provider of contract research, development and manufacturing services to the pharmaceutical industry, while at the same time enhancing our ability to expertly serve our customers.”