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Business

Aptuit Will Acquire Evotec Development Arm

September 17, 2007 | A version of this story appeared in Volume 85, Issue 38

Continuing its buildup of a pharmaceutical development services business, Aptuit has agreed to acquire Evotec's chemical and pharmaceutical development operations for $64 million. The business, which is expected to generate sales of $40 million this year, includes an active pharmaceutical ingredient (API) facility in Oxford, England, and a plant in Glasgow, Scotland, where vials of injectable drugs are filled and finished. Aptuit says the new facilities complement API plants in Harrisonville and Kansas City, Mo., that it acquired last September from EaglePicher. The firm also is building an API facility in India in a joint venture with Laurus Labs. Aptuit was formed in July 2005 by Michael A. Griffith, former head of the pharmaceutical chemistry firm ChiRex, to acquire three drug services businesses from Quintiles Transnational. Its most recent acquisition, last October, was of the solid-state chemistry services firm SSCI. Evotec, for its part, says it is selling the business to focus on its drug discovery operations. Evotec continues to offer high-throughput screening and medicinal chemistry services to pharmaceutical industry customers.

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