Albany acquires specialty contract developer

|About: Albany Molecular Resea... (AMRI)|By:, SA News Editor

Albany Molecular Research (AMRI) buys Cedarburg Pharmaceuticals, a contract developer and manufacturer of technically complex active pharmaceutical ingredients, for $41M.

Cedarburg has provided development and manufacturing support for 13 FDA-approved products to date. Its 2014 revenue forecast is $19M with an adjusted EBITBA of ~$5.6M.

186 mutual funds have AMRI positions, up from 94 a year earlier.