Cambrex Corporation, a leading manufacturer of small molecule innovator and generic Active Pharmaceutical Ingredients (APIs), announced it has entered into a definitive agreement to acquire Halo Pharma, a leading dosage form Contract Development and Manufacturing Organization (CDMO), majority owned by funds managed by the private investment firm SK Capital Partners, for approximately $425 million.
With the acquisition of Halo, Cambrex will enter the large and growing finished dosage form CDMO market. Halo provides drug product development and commercial manufacturing services, specializing in oral solids, liquids, creams, sterile and non-sterile ointments. Halo’s core competencies include developing and manufacturing highly complex and difficult to produce formulations, products for pediatric indications and controlled substances.
Halo operates two state-of-the-art, GMP compliant facilities located in Whippany, NJ, USA and Montreal, Québec, Canada. Both sites have a strong reputation for quality and excellent regulatory track records with regulatory approvals from the US FDA, EMEA, DEA and Health Canada. Halo is currently engaged in more than 100 product development projects for over 70 customers, and is expected to generate over $100 million in annual revenue in 2018. Halo’s 450-person workforce will join Cambrex’s 1,200 employees across the United States and Europe.
Completion of the transaction is subject to customary closing conditions and is expected to occur during the third quarter of 2018.
Headquartered in New Jersey (USA), Cambrex Corporation is an innovative life sciences company that provides products, services and technologies to accelerate the development and commercialization of small molecule therapeutics. The Company offers APIs, advanced intermediates and enhanced drug delivery products for branded and generic pharmaceuticals. Development and manufacturing capabilities include enzymatic biotransformations, high potency APIs, high energy chemical synthesis, controlled substances and continuous processing.