Sterling Pharma to Acquire CiVentiChem’s US Facility
The acquisition of CiVentiChem’s facility in the United States is expected to enhance UK-based Sterling Pharma Solutions’ chemistry development capabilities.
UK-based contract development and manufacturing organization (CDMO) Sterling Pharma Solutions announced its acquisition of chemistry solutions provider CiVentiChem’s facility in Cary, NC, in an April 2, 2019 press release.
The new facility will enhance Sterling Pharma’s chemistry development capabilities to support pre-clinical and early phase clinical supply as well as allow the company to offer a local presence to its clients in the United States. According to Sterling Pharma, the acquisition advances the company’s strategy to build a global chemistry services business.
“The North American market now makes up 70% of our customer portfolio, which was one of the major reasons behind the decision to look for a facility in the US,” said Kevin Cook, CEO of Sterling Pharma Solutions, in a company press release. “This has been primarily driven by the market’s emerging pharma sector and customer demand for our specialist capabilities in complex and challenging chemistry.”
Sterling Pharma is a provider of small-molecule API development and manufacturing services to the pharmaceutical industry, specializing in handling challenging chemistries. According to the company, its facilities have the scale to go from proof-of-concept to commercial manufacture. The acquisition of CiVentiChem US is the latest step in Sterling Pharma’s ongoing growth strategy.
CiVentiChem is a provider of solutions for complex chemistry problems across the pharmaceutical, biotech, and life-sciences industry. CiVentiChem’s US facility houses development laboratories and kilo scale cGMP suites. The purchase of the new facility follows the completion of a majority acquisition of Sterling Pharma by GHO Capital, a specialist European healthcare investor, in early 2019.
“We have developed excellent relationships with many clients and this acquisition will make Sterling a global player in CDMO business,” said Bhaskar Venepalli, CiVentiChem president and CEO, in the release. “CiVentiChem will continue to operate out of its own facility in India as a separate entity to Sterling.”
Source: Sterling Pharma Solutions
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