Dishman buys Solutia's pharma biz for $74.5mn

Dishman Pharmaceuticals has reached a definitive agreement to purchase the pharmaceutical services business of Solutia Inc comprising Carbogen AG and Amcis AG.

According to a release issued by Dishman to the BSE today, the company will acquire 100% of the stock of Carbogen and Amcis from Solutia Europe SA/NV as well as other assets used in the pharmaceutical services business for a consideration of $74.5 million, which includes working capital of $8 million.

"Carbogen-Amcis is a leading pharmaceutical services provider offering a broad portfolio of drug development and commercialisation services to the pharmaceutical and biopharmaceutical industry at all stages of drug development since 1982," the release added.

Carbogen-Amcis has world-class research and development facilities at three sites in Switzerland: Aarau, Bubendorf, and Neuland. The business had a turnover of approximately CHF 80 million in 2005, the release said.