AMRI has acquired all outstanding shares of Gadea Pharmaceutical Group, a privately-held company in Valladolid, Spain, specializing in technically complex APIs and finished drug product, for $174 million.
 
Gadea’s Crystal Pharma division significantly expands AMRI’s API portfolio, adding a portfolio of specialty and generic APIs. Crystal also brings sterile API capabilities with ophthalmic and parenteral suspension dosage forms and prefilled syringe and lyophilization capability.

Gadea’s portfolio also extends AMRI’s API development and manufacturing capabilities in steroids and hormones. The acquisition establishes a strong European base for sales and operations and significantly increases AMRI’s presence into non-US markets. Gadea had revenues of approximately $83 million in 2014 and is expected to continue to operate independently within AMRI’s API segment.
 
“The acquisition of Gadea marks another milestone in our company’s path towards becoming the preeminent supplier of custom and complex drug development services and product to both the branded and generic pharmaceutical industry,” said William S. Marth, AMRI’s president and chief executive officer. “This mutually beneficial transaction presents an exciting opportunity for our two companies that builds upon our growth, adding a strong portfolio of complex API that will augment our existing capabilities and services, and new customer relationships that will extend our global reach.”
 
“Importantly, I am pleased to welcome Gerardo Gutierrez, Gadea’s founder and chief executive officer, who has joined our Board of Directors. With more than 36 years of experience in the industry and nearly 25 years at Gadea, Gerardo has demonstrated a track record of success in innovation and management in specialty API and his continued guidance will be invaluable to our efforts going forward. Mr. Javier Gallo will be leading AMRI’s day to day operations in Spain in his new position as managing director, reporting to Mr. George Svokos, senior vice president, API and chief commercial officer.”
 
“For Gadea, this transaction will build on our company’s proud past and position it for a powerful future,” said Mr. Gutierrez. “Our capabilities in technically challenging API and diverse customer base are highly complementary to AMRI. With this combination, we achieve our goal of being a comprehensive provider of steroid API and gain access to the US market. I look forward to joining the AMRI Board and working together to achieve our common goals.”