AMRI completes €315m Euticals takeover to add capacity to API business

By Gareth Macdonald

- Last updated on GMT

Euticals HQ in Italy
Euticals HQ in Italy

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AMRI has completed the acquisition of Italian API firm Euticals for €315m ($350m).

The deal has added five manufacturing facilities in Italy, two in France, one in Germany and one in the US to AMRI’s network.

Lodi, Italy – headquartered Euticals – which is also known as Prime European Therapeuticals S.p.A. – claims to have a 400-strong customer base of pharmaceutical and biotechnology industry clients.

AMRI CEO William S. Marth described Euticals' API platform as “a significant addition​” to his firm’s capabilities.

He added that the deal expands AMRI’s customer base, diversifies its revenue stream and moves the company “closer to our goal of reaching $1b in annual revenues by 2018​.”

API investments

AMRI announced plans for the acquisition in May​.

At the time US ratings agency Standard and Poor’s (S&P) said: “AMRI's acquisition of Euticals is accretive to the company's scale, geographic diversity and customer base​” and reaffirmed its rating of the firm as “stable.”

S&P also predicted that Euticals would be AMRI's last major acqusition for the next year.

"We do not expect another large acquisition in the next year, given the company's required integration of two sizable and several tuck-in acquisitions since 2014​."

Euticals is the second active pharmaceutical ingredient firm AMRI has bought in a year.

Last July​ the US firm acquired Spain-based Gadea Pharmaceutical Group for $174m in a deal that included the latter’s steroid precursor division Bioraw and its finished dosage unit, Crystal Pharma.

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