U.S. Cambrex agrees to acquire Avista Pharma for about $252 mln

U.S. drug substance and drug products manufacturer Avista Pharma Solutions has agreed to be purchased by life sciences company Cambrex Corporation for around $252 million.

With the deal, Cambrex will enter the large and growing market for early-stage small molecule development and testing services. The acquisition of Avista further strengthens Cambrex’s position as the fully integrated small molecule contract development and manufacturing organization across the entire drug lifecycle.

The deal opens up a new segment of the market for Cambrex and brings it a large number of new customer relationships which will provide cross-selling opportunities for its API and finished dosage form services, and will significantly increase the funnel of molecules.

Avista expects to continue to generate strong performance under Cambrex’s ownership. Completion of the transaction, subject to customary closing conditions, is expected to occur during the fourth quarter of 2018.