AMRI acquires pharma firm
ALBANY Albany Molecular Research Inc. has acquired a Wisconsin pharmaceutical company in a deal valued at $41 million.
Cedarburg Pharmaceuticals in Grafton, Wis., is a contract developer that manufactures active pharmaceutical ingredients for customers. The company’s 2014 annual revenue is projected at $19 million.
“We are very excited to be joining efforts with Cedarburg as they bring a unique blend of expertise in complex API, a scalable business infrastructure and extensive customer relationships that will augment our existing capabilities and services,” AMRI President and CEO William Marth said in a statement.
The deal is expected to add as much as $14 million to AMRI’s revenue this year, according to a news release from the company. The transaction is scheduled to close next month.
Cedarburg will continue to operate independently within AMRI’s API business unit. Albany Molecular Research Inc., located on Corporate Circle in Albany, is a 22-year-old drug discovery, development and manufacturing company.