Albany Molecular Research Inc. Acquires Spain Based Gadea Pharmaceutical Group
Published By : 17 Jul 2015 | Published By : QYRESEARCH
Albany Molecular Research Inc. (AMRI) has announced that it has acquired all the outstanding stakes in the Spain based company in Gadea Pharmaceutical Group that specializes in finished drugs and technically complex APIs (active pharmaceutical ingredients). The purchase price of 2.2 million shares of Gadea’s owner’s common stocks remained US$174 million. The current of the stocks is valued at $43.8 million, with the balance paid in cash.
AMRI's president and chief executive officer, William S. Marth, has said that the acquisition of Gadea marks a milestone for AMRI and a further step towards the path of becoming the premium supplier of complex and custom drugs to both generic and branded pharmaceutical industry.
The mutually beneficial contract is an exciting opportunity for both the companies that will help in building growth. It is expected to a strong portfolio of APIs that will help strengthening the existing capabilities and services of AMRI. It will also allow the company to extend its global reach.
As a part of the deal, Gadea's founder and chief executive officer Gerardo Gutierrez has also joined the board of directors of AMRI. Gerardo has a track record of bringing huge success to Gadea in terms of innovation and management in the field of specialty API.
Gerardo has said that the deal will help Gadea in building the company’s past and a strong future position. He said that Gadea’s capabilities in technically challenging APIs are complementary to AMRI’s product portfolio. This combination will help both the companies in achieving the goal of being providers of complex APIs and allow Gadea in extending its business to the US market. The deal was announced yesterday.