Cambrex closes on $425M deal for dosage-form CDMO Halo Pharma

Halo Pharma CDMO plant in Montreal, Canada
Halo Pharma operates two manufacturing plants in New Jersey and Quebec. (Halo Pharma)

New Jersey-based Cambrex closed on its $425 million acquisition of dosage-form CDMO Halo Pharma and the two manufacturing plants picked up in the deal.

Cambrex announced the acquisition of Halo from SK Capital, which has a number of CDMO holdings, in July.

“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 combines business creates a leading small molecule CDMO with both API and finished dosage development and manufacturing capabilities,” Steve Klosk, president and chief executive of Cambrex, said in a statement.

Halo operates manufacturing sites in Whippany, New Jersey, and Montreal, comprising a total of 430,000 square feet of plant space. Its 450-person workforce will join Cambrex’s 1,200 employees across the U.S. and Europe.

SK Capital has been in the midst of a lot of consolidation in the CDMO market. Last year, Perrigo sold off its active pharmaceutical business to the investment group for $110 million.

Suggested Articles

The FDA asked five drugmakers to pull their version of extended-release metformin off U.S. shelves after finding carcinogen contamination.

The FDA backtracked on its earlier testing and found NDMA contamination in the extended release formulation of certain generic versions of metformin.

GSK has formed several collaborations across the globe that will use its AS03 adjuvant to develop vaccines against the novel coronavirus.