goetzpartners advises Pharmaron on its C.USD 120m acquisition of Allergan Biologics from Abbvie
Pharmaron (Stock Code: 300759.SZ/3759.HK), a fully integrated contract research and manufacturing organisation offering laboratory, CMC, and clinical development services for the life science industry, announced today that it has entered into a definitive agreement to acquire Allergan Biologics ("ABL") in the United Kingdom for US$118.7 million in cash from AbbVie. The transaction is expected to close in the second quarter of 2021, subject to the satisfaction of customary closing conditions.
The ABL site consists of a state-of-the-art, flexible cGMP biomanufacturing facility located in Liverpool with over 150 staff. Leveraging on the industry-leading expertise in the process R&D, cGMP manufacturing and advanced analytical capabilities in broad range of biologics products, the ABL site has further established a solid foundation and expertise on Cell and Gene Therapy (“CGT”) product development and manufacturing.
This transaction will be highly synergistic to Pharmaron’s recent acquisition of Absorption Systems in the US for building an integrated CGT services platform. The integrated platform will offer preclinical research, product development, and commercial manufacturing services for CGT products.
goetzpartners securities acted as exclusive M&A advisor to Pharmaron in the transaction.
Pharmaron is a publicly owned, premier R&D service provider for the life sciences industry with a market capitalisation of c.USD 16bn. Founded in 2004, Pharmaron has established a broad spectrum of R&D service capabilities through organic growth and successful acquisition and integration of companies in the field. With over 10,000 employees, and operations in China, the United States, and the United Kingdom, Pharmaron has an excellent track record in the delivery of R&D solutions to its partners in North America, Europe, Japan and China.