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Pharmaceutical Chemicals

Advent acquires bile chemical firm Industria Chimica Emiliana

by Michael McCoy
October 6, 2019 | APPEARED IN VOLUME 97, ISSUE 39

 

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The private equity firm Advent International has acquired Industria Chimica Emiliana (ICE), an Italian producer of chemicals from bovine bile. Published reports put the value of the deal at $600 million to $700 million. ICE collects bile from processors worldwide and extracts cholic acid. Cholic acid is the firm’s starting point for pharmaceutical chemicals such as ursodeoxycholic acid, the active ingredient in drugs that treat liver diseases and gallstones.

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