Through the drug product business, Cambrex has been delivering services around product development, clinical and commercial manufacturing, and packaging
Cambrex has offloaded its drug product business unit to Noramco. (Credit: Cambrex/Wikimedia Commons)
Cambrex, a contract development and manufacturing organisation (CDMO), has completed the sale of its drug product business division to Noramco, a Delaware-based active pharmaceutical ingredients (API) manufacturer.
The financial details of the deal were not disclosed.
Through the drug product business, Cambrex has been delivering services encompassing product development, clinical and commercial manufacturing, and packaging. These services have been offered from facilities located in Mirabel, Québec, Canada, and Whippany, New Jersey, US.
Cambrex CEO Thomas Loewald said: “The transaction announced today was the result of a strategic decision to focus on core areas of growth and investment.
“Looking forward, Cambrex will prioritise our drug substance and analytical testing portfolios, enabling our customers to develop and deliver therapeutic solutions for patients around the world.”
Cambrex will maintain operations at its 13 global sites, with a focus on delivering drug substance development and manufacturing services across the complete drug lifecycle for customers on a worldwide scale.
The CDMO had recently acquired Snapdragon Chemistry and Q1 Scientific.
On the other hand, Noramco, which is engaged in providing controlled substances to the pharmaceutical industry, has rebranded the acquired drug product business as Halo Pharmaceuticals.
The acquisition expands service offerings for Noramco’s API customers, as well as its subsidiary Purisys, to include drug product formulation development, clinical and commercial drug product manufacturing, and packaging.
Noramco CEO Lee Karras said: “This acquisition allows Noramco to provide our customers with more sourcing options beyond APIs. With these additional capabilities, Noramco/Purisys customers can develop drug product formulations for their APIs for both clinical and commercial purposes.
“Having previously operated the Halo Pharmaceuticals business, I have a direct appreciation of the capabilities of both sites and look forward to working with existing and future customers while welcoming the almost 400 new employees to the Noramco group of companies.”