Under the terms of the agreement, Inyx will acquire from UCB all the outstanding shares of Celltech Manufacturing Services Limited (CMSL), a UCB subsidiary based in Ashton, England.
As a result of the complementary benefits of the acquisition, CMSL is expected to contribute annualised revenues in excess of $50 million with high profit margins to Inyx over the first 12 months.
As part of the acquisition, Inyx is receiving a five-year manufacturing contract from the UCB Group as well as a long-term product support and services contract. Inyx is also acquiring three Celltech product licenses as part of the transaction; two products are indicated for the treatment of thyroid disorders and one for gout.
Inyx is expected to change CMSL's name to Ashton Pharmaceuticals Limited, which will operate under Inyx Europe Ltd., a newly formed, wholly owned subsidiary that will also include Inyx Pharma Limited.
"The CMSL acquisition represents the second transforming event for Inyx in the past several months," said Jack Kachkar, Chairman and CEO of Inyx.
On March 31, 2005, Inyx acquired certain assets and business of Aventis Pharmaceuticals from the Sanofi-Aventis Group for approximately $19.7 million
The Aventis operations in Manati, Puerto Rico, consist of a pharmaceuticals production centre that will provide Inyx with a strategic base in the US to complement its present development and manufacturing facilities located in the UK.