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Albany Molecular Research Inc. (AMRI) has agreed to acquire Cedarburg Hauser Pharmaceuticals, a Grafton, Wis.-based contract manufacturer of active pharmaceutical ingredients (APIs), for $41.0 million, including $2.8 million in debt. With the merger last year between Wisconsin-based Cambridge Major Laboratories and AAI Pharma Services, the deal marks the second recent purchase of a Midwest pharmaceutical chemical producer.
AMRI manufactures APIs in Rensselaer, N.Y., but in recent years has focused on expanding other operations around the world, including drug discovery research and dosage form production.
“This transaction represents an important first step in building out our API capabilities,” AMRI CEO William S. Marth says. He notes that Cedarburg will bring expertise in complex APIs, generic products, and controlled substances. Cedarburg’s sales are expected to hit $19 million this year.
James R. Bruno, president of the consulting firm Chemical & Pharmaceutical Solutions, questions whether the deal adds significantly to AMRI’s current offerings, noting that the firm is already involved with highly potent molecules, controlled substances, and other areas of Cedarburg’s expertise.
The merits of this deal aside, Bruno anticipates more consolidation in the pharmaceutical chemicals sector. “We are still fighting the same battle: too few projects and too many players,” he says. “In the case of Cedarburg, the lesser player was acquired.”
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