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Business
AMRI Buys Spanish API Maker Gadea
by Michael McCoy
July 20, 2015
| A version of this story appeared in
Volume 93, Issue 29
The contract research and manufacturing firm Albany Molecular Research Inc. has acquired Gadea Pharmaceutical, a Spanish maker of active pharmaceutical ingredients (APIs) and finished drugs, for $174 million. Gadea, which had sales last year of $83 million, produces complex APIs including steroids and hormones in its Crystal Pharma division. Two other divisions make finished-dose drugs. AMRI says the deal enhances its complex API offerings and its global reach. AMRI’s last move into Europe was the 2010 purchase of an API plant in Wales, but the firm is now in the process of closing it.
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