AMRI Completes Acquisition of OSO Biopharmaceuticals Manufacturing
Albany, NY Jul 1, 2014 – AMRI (NASDAQ: AMRI) today announced that it has completed the acquisition of Oso Biopharmaceuticals Manufacturing, a former portfolio company of Altaris Capital Partners, LLC. The transaction is consistent with AMRI’s strategy to be the preeminent supplier of custom and complex drug product development and manufacturing services to the pharmaceutical industry.
OsoBio is recognized as a premier contract manufacturer of highly complex injectable drug products and their expertise in large-scale commercial production is highly complementary to AMRI’s early stage drug product manufacturing capabilities. Customers will benefit from access to a single source to address their sterile fill/finish needs from Phase 1 development complete to commercial supply.
Total consideration paid was $110 million. AMRI financed the transaction with cash on hand. AMRI anticipates full year run-rate synergies of approximately $3.0 million of EBITDA within 12 months of closing and the acquisition is expected to be accretive to AMRI’s 2014 adjusted diluted EPS. AMRI intends to provide investors with updated 2014 guidance for the combined company when it releases its second quarter 2014 financial results on August 5, 2014.