Albany Molecular Research Inc (AMRI) has purchased Wisconsin-based pharmaceutical firm Cedarburg Hauser Pharmaceuticals. The acquisition deal is valued at $41 million, according to The Daily Gazette.
AMRI President and Chief Executive Officer (CEO) William Marth said of the transaction: "We are very excited to be joining efforts with Cedarburg as they bring a unique blend of expertise in complex API, a scalable business infrastructure and extensive customer relationships that will augment our existing capabilities and services."
Under the terms of the said deal, Cedarburg will still operate as an entity separate from AMRI. The purchase is expected to up AMRI's 2014 revenue by $14 million, based on the company's news release. The deal is set to close by April, the report detailed.
AMRI is a 22-year-old drug developer and manufacturer in Albany. Cedarburg, on the other hand, is Grafton-based a company that makes active pharmaceutical ingredients for different companies, The Daily Gazette reported.
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