Company will be called Cambrex Zenara
Cambrex Corporation has taken a 51% stake in Zenara Pharma, a Hyderabad, India-based pharmaceutical company focused on the formulation of final dosage form products, including the Nulife brand of nicotine replacement therapy (NRT) gums and lozenges.
Cambrex, headquartered in Charles City, IA in the US, has paid US$20m and will acquire the remaining 49% in 2016.
The company said the deal will make it a leading supplier of active pharmaceutical ingredients and finished dosage form products to the US$1.5bn NRT market.
Cambrex will integrate its API and drug delivery capabilities with Zenara's broad range of formulation and finished dosage form capabilities.
The company said the acquisition also provides it with the ability to develop cost-effective products for high-growth emerging markets such as India.
Steve Klosk, chief executive of Cambrex, said: ‘This transaction represents another significant step in Cambrex's strategic objective of enhancing our technology portfolio and providing high value products to the pharmaceutical industry.
‘The integration of Cambrex's API and drug delivery business with Zenara's formulation and finished dosage experience enables Cambrex to provide greater benefit to our pharmaceutical customers.’
Ashok Narasimhan, president of Cambrex Zenara, added: ‘Cambrex, with its leading position in western markets for the development and manufacture of APIs, and its history of supplying products to the NRT market, is a natural partner for Zenara.’