Cambrex completes acquisition of Halo Pharma 13th September 2018
Cambrex Corporation (NYSE: CBM), a leading manufacturer of small molecule innovator and generic Active Pharmaceutical Ingredients (APIs), has completed the acquisition of Halo Pharma (Halo), a leading dosage form Contract Development and Manufacturing Organization (CDMO) located in Whippany, New Jersey and Mirabel, Québec, Canada, for approximately $425 million.
This completes the transaction initially announced on July 23, 2018. The addition of the facilities adds formulation development and finished dosage manufacturing capabilities to Cambrex’s existing global API manufacturing network.
The newly acquired Cambrex Whippany and Cambrex Mirabel provide formulation development and clinical and commercial manufacturing services, specializing in oral solids, liquids, creams, sterile and non-sterile ointments. The facilities’ core competencies include developing and manufacturing highly complex and difficult to produce formulations, products for pediatric indications and controlled substances.
“The acquisition is well-aligned with our commitment to providing best-in-class services to meet the needs of our global pharmaceutical, biotech and generic customers and the combined business creates a leading small molecule CDMO with both API and finished dosage development and manufacturing capabilities,” commented Steve Klosk, President and CEO of Cambrex.
Shawn Cavanagh, COO of Cambrex commented, “This acquisition expands our manufacturing footprint with the addition of two state-of-the art, GMP compliant manufacturing facilities in North America, both with a strong reputation for quality and excellent track records with regulatory approvals from the US FDA, EMEA, DEA and Health Canada. We look forward to welcoming the 450-person workforce in joining our existing 1,200 experts across the United States and Europe and to continue to build long-term partnerships with our customers.”