APTUIT TO DIVEST TWO NON-CORE SITES; FACILITATES REINVESTMENT AND ACCELERATED GROWTH IN CORE AREA OF INTEGRATED SOLUTIONS
AMRI to purchase Glasgow, UK and West Lafayette, Indiana, U.S.A. sites
Greenwich, CT, January 9, 2015 - Dr. Jonathan Goldman, CEO, Aptuit LLC, announced that Aptuit has divested its aseptic clinical manufacturing site in Glasgow, UK to Albany Molecular Research, Inc. (NASDAQ: AMRI), and has entered into a definitive agreement with AMRI to acquire the West Lafayette, Indiana solid-state chemistry business for a total consideration of $60 million.
Dr. Goldman stated, "The sale of these sites to AMRI is part of our strategy to divest non-core assets and invest in our core competency of integrated early discovery to mid-phase drug development. We will continue to deliver world-class drug discovery and development services from our fully integrated, former large pharma R&D center of excellence in Verona, Italy, and our internationally renowned API facility in Oxford, UK. This transaction, which is part of our strategic initiative to grow our integrated offerings, will facilitate reinvestment in our core competencies and allow us to further differentiate our existing, unique capabilities and pursue strategic acquisitions."
Dr. Goldman explained that Aptuit's reinvestment strategy will include targeted acquisitions to expand the company's service offerings and capital expenditure at the Verona facility.
"Our company has expanded by acquisition and organic growth. Future announcements will describe new additions to our capabilities in discovery and non-clinical development, as well as innovative strategic partnerships," Dr. Goldman added, making it clear that Aptuit is continuing to lead the industry in high quality solutions that reduce cost, time and attrition from discovery to proof of concept.
Dr. Goldman concluded, "We are focused on helping bring safe and effective medicines to market with a service offering that achieves industry-leading speed and economy while delivering excellent value to our customers. Aptuit is committed to being the best-in-class provider of fully integrated drug discovery and development services, supported by a culture of scientific excellence and innovation."
Teneo Capital acted as the exclusive financial adviser to Aptuit LLC and Welsh, Carson, Anderson & Stowe in this transaction.
Aptuit LLC provides the most complete set of integrated early discovery to mid-phase drug development services in the pharmaceutical industry including Drug Design & Discovery, API Development and Manufacture, Solid State Chemistry, CMC, and Preclinical and IND enabling GLP/GMP programs. Fully integrated drug discovery and development services are available from a single site at The Aptuit Center for Drug Discovery & Development in Verona, Italy. The company maintains resources around the world, with facilities in the US, UK and Italy. Aptuit LLC is partnered with Welsh, Carson, Anderson & Stowe, one of the world's leading private equity investors.
For more information about Aptuit, visit www.aptuit.com