In-transition drug developer AMRI has won a 10-year contract with the National Institutes of Health to help develop and manufacture neurological drugs.
AMRI has extended a buying streak to build up its contract manufacturing capabilities, adding to its injectable drug operations in the process. The New York-based company will lay out $60 million to buy two facilities from drug development specialist Aptuit.
AMRI, on the mend after a rough quarter, is laying out $60 million to expand its manufacturing footprint, agreeing to buy a couple of outposts from service provider Aptuit.
After a weather-related shutdown at a New Mexico facility helped tank its quarterly earnings, AMRI has rectified the issue, bringing its plant back online as it works to get back on the path to growth.
Earlier this year, AMRI paid $110 million for injectable drug specialist Oso Biopharmaceuticals Manufacturing, expecting to make some extra money in its contract manufacturing operations. Instead, a power loss at that company's facility in New Mexico was a big factor in it reporting a loss in the last quarter.
Contract drug developer AMRI watched its shares plummet after underperforming in the third quarter, an earnings miss the company blamed on declining demand, spiking costs and bad weather in the desert.
Contract drug developer AMRI is expanding its platform to include protein R&D, investing in a market the company expects to boom over the coming years.
Contract drug developer AMRI posted a 15% boost in its quarterly revenue, using M&A and manufacturing demand to help wean it off royalty cash.
Contract developer AMRI has closed its $110 million acquisition of drug manufacturer Oso Biopharmaceuticals, its second deal this year and one the company believes will help pad its annual revenue.
AMRI is building up its contract manufacturing operations and has completed a $110 million deal for Oso Biopharmaceuticals Manufacturing to add that company's expertise in complex injectable drug products to its stable.