CRO

Questcor snags CMO BioVectra for $50.7M

Questcor Pharmaceuticals ($QCOR) has inked a deal to acquire Canadian CMO BioVectra for $50.7 million, buying a company that manufactures active pharmaceutical ingredients (APIs), chemical intermediates and bioprocessing reagents.

BioVectra has long been a partner of Questcor, manufacturing its H.P. Acthar Gel, so the acquisition means a little vertical integration for the drugmaker, plus the addition of revenue from BioVectra's other pharma partners. The CMO will continue to operate independently from its three Prince Edward Island facilities, and Questcor will support its continued growth, CEO Don Bailey said.

"We are excited to join efforts with BioVectra as we look to diversify our revenue," Bailey said in a statement. "This action puts us in a better position to meet the continuing growth in demand for Acthar, brings to our company a broader depth of technical and scientific expertise, and provides us with a platform for potential international expansion."

BioVectra's sites are approved by the FDA and Canadian regulators to produce and supply intermediates, APIs and drug substances, and the facilities specialize in synthetic organic chemistry; natural extraction of bioactive compounds from plant and animal-based biomass sources; PEGylation and conjugation chemistry; and fermentation of a variety of molecule types.

- read the statement