Piramal Healthcare Limited in Talks to Buy US Contract Drug Maker Cambridge Major Laboratories, Inc. for $200 Million
6/19/2012 7:37:16 AM
Piramal Healthcare (PHL) is in talks to buy US contract drug manufacturer Cambridge Major Laboratories (CML) for around $200 million, a person with direct knowledge of the development said. “Early stage negotiations are on and it will take a while to conclude the deal,” he said. PHL is the flagship company of the Ajay Piramal-owned Piramal Group while the Wisconsin-based unlisted CML makes pharmaceutical intermediates and active pharmaceutical ingredients (APIs) used in drugs. The company is a global chemistry outsourcing partner to pharmaceutical and biotechnology companies, owning three facilities in US and one in Europe.