AMRI Trades Stock for Spanish Manufacturing Operation
Monday, July 20, 2015
Contract drugmaker AMRI ($AMRI) paid $174 million for a Spanish manufacturing operation, part of the company's long-term plan to dial up its focus on production.
Under the deal, the New York-headquartered AMRI acquired Gadea Pharmaceutical, a private company focused on manufacturing complex active ingredients for pharma companies. AMRI is handing over $43.8 million of its own stock in the agreement, paying the difference in cash to pick up the Valladolid-based company.