Piramal acquires Kentucky-based CDMO for $30m

By Zachary Brennan

- Last updated on GMT

Piramal acquires Kentucky-based CDMO for $30m

Related tags Pharmacology

India-based CMO Piramal has acquired US-based sterile injectable CDMO (contract development and manufacturing organization) Coldstream Laboratories for $30.65m.

Founded in 2007 and owned by University of Kentucky Research Foundation, Coldstream now employs 91 as a specialty CMO that focuses on the manufacturing of sterile liquid and lyophilized parenterals and injectables.

Coldstream has developed differentiated expertise to formulate and manufacture high potency and cytotoxic compounds including ADCs (antibody drug conjugates). The company operates from a FDA-approved facility in Lexington, Kentucky. Coldstream revenues for the last three years totalled $14m for 2014, about $13m for 2013 and about $9m for 2012.

Coldstream is a very high quality operation and has been able to build significant customer relationships and track record for sterile products​,” Vivek Sharma, CEO of Piramal’s Pharma Solutions business said. “This acquisition allows Piramal to move further into the injectable market segment and should have strong synergy with our existing Pharma Solutions business​.”

The acquisition comes a week since Piramal announced a $20m capacity expansion​ in ADC (antibody drug conjugate) and hormonal manufacturing. An additional $40m was also invested in new equipment and technology. 

Bill Wedlake, President of Piramal’s Pharma Solutions Formulations business added, “Coldstream’s use of isolator technology is impressive and provides a foundation for expansion of the facility to provide large scale commercial manufacturing including production of highly potent compounds​.”

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