Cambrex to be acquired by the Permira funds

7 Aug 2019

The CDMO's shareholders will receive $60.00 per share in cash.

Cambrex has signed a definitive agreement to be acquired by an affiliate of the Permira funds in a transaction valued at approximately $2.4 billion, including Cambrex’s net debt. Under the terms of the merger agreement, Cambrex shareholders will receive $60.00 in cash for each share of Cambrex common stock, which represents a 47.1% premium to the August 6 closing stock price and a 37.3% premium to the 60-day volume weighted average closing price leading up to this announcement.

Cambrex to be acquired by the Permira funds

Cambrex has grown to become a premier CDMO in the small molecule space over the last several years. The recent acquisitions of Halo Pharma in 2018 and Avista Pharma Solutions in 2019 added drug product manufacturing and a full range of early-stage and analytical testing services to the company’s leading position in drug substance manufacturing, allowing Cambrex to broaden customer relationships over the full product lifecycle, from pre-clinical through commercial.

“We are excited to announce this transaction with Permira, a global private equity firm that has made significant investments in the pharma services space. This agreement is a strong endorsement of our strategy and represents significant value for our shareholders,” commented Steve Klosk, President and CEO of Cambrex. “Cambrex will continue to invest aggressively in our commitment to our global customer base, where we are constantly looking at ways to provide the broadest possible range of world class services.”

“We are very excited to back Cambrex in its next phase of growth,” said Henry Minello, Principal in the Global Healthcare Group of Permira. “Over many years, Cambrex has built a leading position with best-in-class capabilities and facilities, backed by an excellent reputation for quality and technical expertise. We look forward to partnering with Cambrex’s talented management and employees to support the growth of its integrated services offering.”

Completion of the transaction is subject to customary closing conditions, including receipt of approval by Cambrex’s shareholders and customary regulatory approvals. Closing is expected to occur during the fourth quarter of 2019.

Read More

Related news

iNova Pharmaceuticals announces the launch of iPitch 2020

iNova Pharmaceuticals announces the launch of iPitch 2020

3 Jul 2020

Following on from the success of the inaugural iPitch launch in 2019, iNova Pharmaceuticals is delighted to announce the launch of a new round of iPitch challenges for 2020.

Read more 
Ajinomoto introduces fast track platform for drug product manufacturing

Ajinomoto introduces fast track platform for drug product manufacturing

30 Jun 2020

AJILITY is designed to speed novel or existing therapeutics from development to manufacturing and into the clinic.

Read more 
CPhI Worldwide to transform into Festival of Pharma digital experience

CPhI Worldwide to transform into Festival of Pharma digital experience

30 Jun 2020

The 10-day event will feature an interactive digital marketplace for sourcing products and services, enhanced matchmaking for connecting with new and existing partners, and world-renowned speakers.

Read more 
Catalent expands beauty and plant-based consumer health softgel capabilities

Catalent expands beauty and plant-based consumer health softgel capabilities

30 Jun 2020

Two company sites - one in Canada, the other in Brazil - receive new softgel encapsulation lines to service local customer demand.

Read more 
Stevanato Group pledges to provide glass vials for potential COVID-19 vaccines

Stevanato Group pledges to provide glass vials for potential COVID-19 vaccines

29 Jun 2020

The company agrees to provide CEPI with 100 million glass vials, which can store 20 doses per vial (2 billion doses in total).

Read more 
PCI Pharma Services completes biotech Center of Excellence

PCI Pharma Services completes biotech Center of Excellence

29 Jun 2020

The global outsourcing solutions provider is also set to expand its biotech capabilities in Europe.

Read more 
DuPont's seaweed-based soft capsule ingredient gains non-GMO certification

DuPont's seaweed-based soft capsule ingredient gains non-GMO certification

29 Jun 2020

SeaGel offers drug and dietary supplement manufacturers an animal-free and sustainable alternative to traditional soft capsules.

Read more 
Gilead pencils in potential buyout of Pionyr Immunotherapeutics

Gilead pencils in potential buyout of Pionyr Immunotherapeutics

23 Jun 2020

Pionyr's "promising, novel biology" could represent a major increase in Gileads's cancer pipeline.

Read more 
CordenPharma & Moderna extend lipid supply agreement for Moderna’s coronavirus vaccine

CordenPharma & Moderna extend lipid supply agreement for Moderna’s coronavirus vaccine

23 Jun 2020

The amended manufacturing agreement, which originally specified CordenPharma facilities Switzerland, now extends to the CDMOs France and US sites.

Read more 
TraceLink announces results from FDA DSCSA Pilot Program

TraceLink announces results from FDA DSCSA Pilot Program

23 Jun 2020

Key findings demonstrate the value of network solutions to secure and digitalize the pharmaceutical supply chain.

Read more