This past week Permira, a global investment firm based in the United Kingdom, spent $2.4 billion for Cambrex Corporation (NYSE: CBM). Cambrex is a premier contract development and manufacturing organization (CDMO) in the small molecule space and provides drug substance, drug product and analytical services across the entire drug lifecycle. The $2.4 billion purchase price includes the company’s […]
Contract research organizations (CROs), like contract development and manufacturing organizations (CDMOs), have been popular targets for private equity firms and strategic buyers for years. The deals seem to come in waves, and the healthcare M&A market may be in for a tsunami this year. In 2013, some 20 transactions for CRO/CDMO targets were announced, with […]
Charles River Laboratories International (NYSE: CRL), a global early-stage contract research organization (CRO), announced it has purchased the French non-clinical lab Citoxlab. Based in Evreux Cedex, France, the target specializes in regulated safety assessment services, non-regulated discovery services, and medical device testing. The deal cost Charles River $510 million, roughly 13.8x EBITDA for Citoxlab. The acquisition strengthens Charles River’s services […]
Contract research organizations (CROs) were huge targets in 2017, with four of the sector’s 10 biggest deals bringing in $22.9 billion, combined. The CRO market has cooled in 2018, but interesting new trends pop up now and then. The latest is the trend toward specialty CROs, which focus on specific areas such as diseases of […]
Catalent, Inc. (NASDAQ: CTLT), a contract research organization (CRO), announced its acquisition of thinly traded nano cap Juniper Pharmaceuticals (NASDAQ: JPR) for $139.6 million. Catalent, based in Somerset, New Jersey, offers development services, delivery technologies and supply solutions for drugs and biologics. On a trailing 12-month basis, the company generated revenue of $2.4 billion, and EBITDA of […]
The CRO deals just keep coming. Four have been announced since the beginning of the year, targeting contract research organizations (CROs). The latest announcement came from Charles River Laboratories International (NYSE: CRL), which is paying $800 million for Mattawan, Michigan-based MPI Research. This is the highest disclosed price for an acquisition by Charles River since 2011. […]
The digital health sector is benefitting big-time from the explosion in drug discovery transactions in 2017. Investors are now targeting eHealth companies specializing in clinical trial software.
After 34 announced transactions in 2017, the news that one contract research organization (CRO) bought another CRO is downright yawn-inducing. This space is undergoing rapid consolidation, no question. Before this week, those 34 deals had a combined total of approximately $20.9 billion. Add another deal, and another $950 million, and the market just got a […]
A few CROs, like PRA Health Sciences, are turning to eHealth acquisitions to strengthen their data technology capabilities.
In late July, Laboratory Corp. of America Holdings (NYSE: LH) announced the 6th CRO deal to surpass the $1 billion mark this year. The $1.2 billion deal for Chiltern is its third announced transaction this year, having acquired Mount Sinai’s Clinical Outreach Laboratories (January) and Pathology Associates Medical Laboratories, LLC (February).