CROs and CDMOs are Still Selling Fast

CROs and CDMOs are Still Selling Fast

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 net debt, for 4.2x revenue and 16.3x EBITDA,  represents a 47.1% premium to Cambrex’s closing price of $40.78 on August 6. The target reported a number of its own acquisitions recently, making the CDMO a more attractive buy. Cambrex acquired Halo Pharma in 2018 and Avista Pharma Solutions... Read More »