Sigma-Aldrich Acquires Pharmorphix To Expand R&D Offering
St. Louis - MO - Sigma-Aldrich Corporation announced that it has acquired Pharmorphix Limited, a privately held firm based in Cambridge, UK, that offers solid-form research services to the global pharmaceutical and biotech markets. The addition of Pharmorphix will broaden SAFC Pharma's manufacturing services customer base and enhance its technology services offering for existing customers.
The mid-year addition of Pharmorphix, which had sales of roughly $5 million over the past 12 months, will not have a material impact on Sigma- Aldrich's sales. The acquisition is expected to help the Company achieve its growth goals over the next several years and is expected to be neutral to mildly accretive to earnings in 2006, with no initial charges. All current employees in good standing, including the existing Pharmorphix management team, will remain with the company. Terms of the purchase, which were not disclosed, were paid in cash.
Operating in state-of-the-art facilities in Cambridge Science Park near London, Pharmorphix is a leading provider of solid form research services. These services are sold to a large number of pharmaceutical and biotech customers that require information on the solid state of therapeutics to support regulatory and intellectual property submissions. The acquisition will further enhance SAFC Pharma's position as a global industry leader in the manufacture of active pharmaceutical ingredients (API's), complementing SAFC's existing API development and production sites.
SAFC's President, Frank Wicks, commented, "This technology-driven purchase of a leading company in its field is further indication of our desire to be considered the global outsourcing partner of choice for the pharma and biotech sectors. Recently-published FDA guidelines concerning specification of API solid form make the services provided by firms such as Pharmorphix crucial to the pharmaceutical industry. In addition, better understanding and characterization of solid form provides valuable intellectual property that can be used to extend the patent life of new therapeutics."
Dr. Alan Chorlton, Pharmorphix's CEO, added, "There is an excellent synergy between Pharmorphix's technology and SAFC's development and manufacturing capabilities. The acquisition will stimulate further, mutual business growth, and we look forward to joining such a dynamic and ambitious organization as SAFC."
Pharmorphix is the second company this year to be integrated within the SAFC organization, following the May 2006 acquisition of Iropharm, a cGMP compliant commercial-scale chemical synthesis manufacturing site in Arklow, Ireland.
SOURCE: Sigma-Aldrich Corporation