AMRI announced that it has completed the acquisition of Prime European Therapeuticals S.p.A., also known as "Euticals", a privately-held company headquartered in Lodi, Italy, specializing in custom synthesis and the manufacture of active pharmaceutical ingredients (APIs). This completes the transaction initially announced on May 5, 2016.
The acquisition positions AMRI as one of the largest independent developers and suppliers of API to the pharmaceutical industry, and in particular, provides the company with an established custom synthesis presence in key European markets.
"We are delighted to have Euticals join the AMRI family as we create an industry leader in global contract research and manufacturing. Euticals' API platform is a significant addition to AMRI's capabilities, and we are excited about the future opportunities our company will have as a result of this pivotal acquisition," said William S. Marth, AMRI's president and chief executive officer.
Mr. Marth added: "This significantly expands AMRI's customer base, further diversifies our revenue streams, and moves us significantly closer to our goal of reaching $1 billion in annual revenues by 2018. The Euticals acquisition accelerates our company's strategy to become a global, preeminent provider of contract research, development and manufacturing services to the pharmaceutical industry, while at the same time enhancing our ability to expertly serve our customers.
"As we prepare to celebrate AMRI's 25th anniversary this year, the closing of this transaction is a timely achievement that I am confident will position AMRI for success over many years to come," concluded Mr. Marth.