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.
AMRI said the Albuquerque, NM-based Oso will expand its capabilities in small-molecule and biologics manufacturing.
In the midst of an ongoing reorganization, contract developer AMRI has made another buy in manufacturing, signing a deal to scoop up CMO OsoBio for $110 million in cash.
Contract drug developer AMRI turned in a stagnant revenue quarter, watching profits slip as it prepares to shake off its dependence on royalties and embrace a future in large-scale manufacturing.