AMRI acquires API maker Euticals

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AMRI acquires API maker Euticals

Home/Pharma News | Posted 24/06/2016 0 Post your comment

US-based Albany Molecular Research Inc (AMRI) announced on 5 May 2016 that it had entered into a definitive agreement to buy Prime European Therapeuticals, also known as Euticals.

Euticals is a privately held company headquartered in Lodi, Italy specializing in custom synthesis and the manufacture of active pharmaceutical ingredients (APIs). It operates a network of API facilities primarily in France, Germany, Italy and the US.

AMRI will pay approximately US$358 million (Euros 315 million) for the API maker, which will be made up of shares of AMRI common stock, cash and a seller note.

The API portfolio from Euticals includes 50 active US Drug Master Files (DMFs), 17 EU Certificates of Suitability (COS) or Compliance with the European Pharmacopeia (CEP), 13 Japanese DMFs and six South Korean DMFs; with several APIs having filings in more than one of these areas and over two dozen other international filings.

The move is set to expand AMRI’s presence in Europe and, according to the company, will position it as one of the largest independent developers and suppliers of APIs. It will also expand AMRI’s expertise in multiple areas, including sterile APIs, steroids, generics, fermentation, controlled substances and monobactams. In addition, AMRI also expects the large base of over 400 customers from Euticals will provide the company with a number of new large pharma, biotech and generics partners, further extending the company’s global reach and diversifying its revenue.

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Source: AMRI