Avista buys another pharma contracting biz

Contract drug developer Avista Pharma Solutions bought the manufacturing, development and animal health services business of rival Scynexis, building up its capacity to take a larger share of an expanding market. Under the deal, Avista picks up a development and manufacturing facility in Durham, NC, with plans to hire "substantially all" of the Scynexis employees already there, the company said, not disclosing financial details. The acquisition comes a month after Avista bought Array BioPharma's ($ARRY) chemistry, manufacturing and controls business, part of a broader effort to expand its capabilities. Avista is a subsidiary of pharma contractor Accuratus Lab Services, which is owned by the private equity firm Ampersand Capital Partners. More