France's Novacap scoops up U.S. CDMO

PCI Synthesis, a CDMO based in the Boston area, is being acquired by France's Novacap. (PCI Synthesis)

Novacap, a French company that specializes in pharmaceutical synthesis and advanced specialties, is taking on new skills with the acquisition of a Massachusetts-based CDMO.

Novacap has a deal to buy Boston area-based PCI Synthesis, whose services include commercial production of new chemical entities, generic APIs as well as research and early stage development.

PCI has a manufacturing facility in Newburyport, Massachusetts, and an R&D facility in Devens, Massachusetts. Terms of the deal were not disclosed, but according to the announcement, PCI had about $32 million in sales last year.

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"The acquisition of PCI Synthesis perfectly fits with our strategic roadmap as it will strengthen our offering to the pharmaceutical industry and provide Novacap with a strong and innovative platform to accelerate our development in the U.S.,” Novacap CEO Pierre Luzeau said in a statement.

Based in Lyon, France, Novacap has 28 industrial plants, including 12 cGMP manufacturing sites, two main R&D centers and its comprehensive range of services. It has about 3,000 employees and tallied sales of $1 billion last year.

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