Albany acquires specialty contract developer

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.

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