Columbia Laboratories, Inc. (CBRX) Acquires Molecular Profiles, a U.K.-Based Provider of Pharmaceutical Formulation Development and Manufacturing Services
9/12/2013 9:47:07 AM
BOSTON & NOTTINGHAM, England--(BUSINESS WIRE)--Columbia Laboratories Inc. (NasdaqCM:CBRX) [“Columbia”, the “Company”] has acquired Molecular Profiles Ltd. [“Molecular Profiles”], a privately-held, cash-flow positive, U.K.-based pharmaceutical development services company, for total consideration of approximately $25.0 million comprising $16.7 million in cash and 1,051,323 shares of Columbia common stock, representing ten to eleven times Molecular Profiles’ projected EBITDA1 for its fiscal year ending July 31, 2014. The newly issued shares are subject to a twelve-month lock-up period. Excluding transaction costs, the acquisition is expected to be immediately accretive. Additionally, Columbia expects to realize a double-digit impact to its EBITDA1 and operational synergies of up to $400,000 annually.
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