Sector News

Cambrex makes $25 million deal

September 27, 2016
Life sciences

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

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