AMRI to Acquire Oso Biopharmaceuticals Manufacturing
AMRI has announced that it has signed a definitive agreement to acquire all of the outstanding membership interests of Oso Biopharmaceuticals Manufacturing, a contract manufacturer of highly complex injectable drug products, including sterile liquid, suspension and lyophilized formulations, for $110 million in cash. The acquisition and associated fees are expected to be financed through cash currently held by AMRI, and, subject to Hart-Scott-Rodino clearance and other conditions to closing, is expected to be completed in the third quarter of 2014.
OsoBio’s core capabilities include liquid fill and lyophilized products, highly potent compounds, cytotoxics, proteins and peptides, monoclonal antibodies, vaccines, liposomal suspensions, and controlled substances. OsoBio has provided manufacturing support for more than 250 products; the company’s development pipeline, which includes multiple late-stage products, is expected to be important contributor for future growth, AMRI reports in a statement.
OsoBio’s forecasted full year 2014 revenue is between $58 million and $60 million. OsoBio is expected to continue to operate independently within AMRI’s Drug Product business unit. Milton Boyer, the current president and chief executive officer, will lead the OsoBio team and report into Steven Hagen, AMRI’s senior vice president of manufacturing and pharmaceuticals.