Categories Consumer, Health Care, LATEST, U.S. Markets News

Cambrex Corp. completes acquisition of Avista Pharma solutions

Life sciences company Cambrex Corp. (CBM) Wednesday completed its previously announced acquisition of Avista Pharma Solutions, a biotech firm engaged in the analytical testing and development of generic pharmaceutical products.

The buyout, a move aimed at strengthening Cambrex’s position in the field of early-stage small molecule development and testing services, includes Avista’s four facilities in the US and Europe, as well as its various service offerings. The transaction was funded through a combination of cash on hand and borrowings. After the integration of Avista’s workforce, Cambrex currently has about 2,000 employees.

The $252-million transaction is expected to enhance Cambrex’s small molecule contract development and manufacturing organization. Shares of the New Jersey-based company had slipped to a one-year low late December. However, they made strong gains in early trading Wednesday, continuing the recovery started last week after a long losing streak.

The $252-million transaction is expected to enhance Cambrex’s small molecule contract development and manufacturing organization

The ongoing expansion initiatives suggest that the stock is likely to bounce back this year from the recent lows, offering the risk-loving investors an opportunity to buy. The company’s impressive track record and strong financial base, which positions it to meet long-term liabilities, justify the bullish view.

Johnson & Johnson will spend more time in court in 2019

Last year, Cambrex had purchased Halo Pharma as part of its efforts to expand market share and customer base. The latest deal is expected to give the company significant cross-selling opportunities, leveraging Avista’s analytical testing and formulation development capabilities.

Headquartered in Durham, North Carolina, Avista is one of the leading manufacturers of small molecule innovator and generic active pharmaceutical ingredients.


Listen to publicly listed companies’ earnings conference calls along with the edited closed caption text 

Most Popular

V Earnings: Key quarterly highlights from Visa’s Q1 2023 financial results

Visa Inc. (NYSE: V) reported first quarter 2023 earnings results today. Net revenues grew 12% year-over-year to $7.9 billion. GAAP net income rose 6% to $4.2 billion while EPS grew

Earnings: Highlights of Intel’s (INTC) Q4 2022 financial results

Intel Corporation (NASDAQ: INTC) Thursday reported a decline in adjusted earnings and revenues for the fourth quarter. The semiconductor giant also provided guidance for the first quarter of 2023. Fourth-quarter

McCormick (MKC) expects to drive sales growth in 2023 through pricing actions and cost savings

Shares of McCormick & Company Inc. (NYSE: MKC) were down over 5% on Thursday after the company missed expectations on its fourth quarter 2022 results and provided a lower-than-expected earnings

Add Comment
Viewing Highlight