In the second expansion announced this month, generic API maker Cambrex has a deal to buy a clinical supply manufacturer.
East Rutherford, NJ-based Cambrex ($CBM) will pay about $25 million for Pharmacore, which has a 35,000 square-foot facility in High Point, NC, and take on its 60 full-time employees. The facility, which can make batch sizes from milligrams to 100 kilos, is also licenced with the Drug Enforcement Administration to produce schedule II through schedule V controlled substances, Cambrex said.
With Pharmacore generating $15 million to $17 million a year in revenues, Cambrex said it expects the addition to be accretive to its earnings next year.
“The acquisition will provide the capability and expertise to efficiently develop early clinical phase products and new technologies,” Cambrex CEO.Steven Klosk said in a statement.
Earlier this month, Cambrex said it would invest about $9 million to expand its large-scale manufacturing capacity at its Karlskoga facility in Sweden. That project includes adding new multi-purpose reactors and upgrading of the control room within an existing plant on site. The new facilities are expected to ready to go in Q4 of this year.
Last year, Cambrex announced it would spend about $50 million to add reactors and warehouse space at a facility in Charles City, IA and add about 30 jobs.
Cambrex ponies up $50M for another expansion of its Iowa API plant