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GEN News Highlights : Nov 3, 2010

Cambrex Buys 51% of Zenara for $20M as First Stage in Overall Buyout of Indian Firm

Expertise of combined entity will span APIs, delivery, formulation, and final dosage forms.

Cambrex has enacted the first half of a two-stage buyout of Zenara Pharma through the acquisition of a 51% stake in the Indian firm for $20 million. Cambrex will acquire the remaining 49% in Zenara during early 2016. The purchase price will depend on EBITDA figures during 2011-2015. The new firm will be called Cambrex Zenara.

Zenara specializes in the formulation of final dosage form products. Cambrex says this expertise will complement its own API and drug-delivery capabilities. The acquisition will also provide a development and manufacturing platform for Cambrex within the Indian Pharmaceutical market. More specifically, Cambrex believes the acquisition will make it one of the leading suppliers globally to the nicotine replacement therapy market through the provision of both APIs and finish dosage form products.

Cambrex offers services for the manufacture of APIs, advanced intermediates, and enhanced drug-delivery products for branded and generic pharmaceuticals.