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
The companies will explore opportunities to apply Flagship’s innovative bioplatforms – an ecosystem that currently comprises 41 companies – to scientific challenges in disease areas within cardiometabolic and rare diseases and initiate research programmes based on these.
BD is expanding its long-running partnership with the blood collection company Babson Diagnostics. The two companies have been working together since 2019 on a device that can gather small volumes of blood from the capillaries in the fingertip without requiring any specialized training, and beginning with a focus on supporting primary care in retail settings.
Wednesday, Australian biotech CSL said (PDF) the regulatory review of its $11.7 billion acquisition of Switzerland’s Vifor Pharma will take “a few more months,” suggesting it won’t be able to close the transaction by June 2022 as previously expected.
