Albany Molecular's Turnaround Train Is Gaining Steam
Dec. 15, 2015, 10:08 AM
- (AMRI +3.1%) buys testing services provider Whitehouse Laboratories for $54M in cash plus an additional $2M in AMRI stock contingent on the achievement of certain 2015 targets.
- Lebanon, NJ-based Whitehouse's menu of services includes chemical and material analysis, method development and validation and quality control verification to the pharmaceutical, medical device and personal care industries.
- The deal should be accretive to AMRI's 2016 non-GAAP EPS. Updated guidance will be provided in mid-February.
Jan. 15, 2015, 7:41 AM
- (NASDAQ:AMRI) acquires Aptuit's Glasgow, U.K.-based drug formulation and clinical stage manufacturing business and its West Lafayette, IN-based drug formulation operation for $60M.
- Under the terms of the deal, AMRI will pay $24M for the Glasgow business and $36M for the Indiana business plus assume certain liabilities. The acquisitions should contribute $25M - 30M to revenue and $5M - 7M to non-GAAP EBITDA this year. The transaction is expected to close this quarter.
- AMRI will provide updated guidance when it releases Q4 and 2014 results in February.
Jun. 2, 2014, 1:14 PM
- AMRI (AMRI +3.9%) acquires Oso Biopharmaceuticals Manufacturing LLC (OsoBio) for $110M cash. OsoBio is a contract manufacturer of injectable drug products, including sterile liquid, suspension and lyophilized formulations. President & CEO William S. Marth says, "The acquisition of OsoBio is highly complementary to our finished dose manufacturing business and is consistent with our strategy to be the preeminent supplier of custom and complex drug development services and products to the pharmaceutical industry."
- On a stand-alone basis, OsoBio's 2014 revenue is expected to be $58M - 60M and EBITDA between $9M - 10M.
Albany Molecular Research, Inc. engages in research and manufacturing organization providing customers drug discovery, development, and manufacturing services. It operates through three segments: Discovery and Development Services, Active Pharmaceutical Ingredients and Drug Product. The... More
Industry: Research Services
Country: United States
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