East Rutherford-based life sciences company Cambrex Corp. has agreed to buy a North Carolina-based drug company to expand its pharmaceutical ingredients business.
Cambrex will pay about $25 million for High Point, N.C.-based PharmaCore Inc., a privately owned provider of small molecule active pharmaceutical ingredients for clinical projects.
The deal, expected to be completed within 30 days, was announced Monday by the two companies in a joint statement.
PharmaCore, which generates $15 million to $17 million in annual revenue, was founded 1999, and it employs more than 60 people, including nearly 40 process and analytical chemists.
By Richard Newman
Source: NorthJersey.com
CordenPharma announced its largest strategic investment to date, committing to spend ~€900m over the next three years to enhance its peptide technology platform. The planned investment consists of two major expansion initiatives occurring in parallel in the US and Europe, including both existing facilities and new constructions.
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