Patheon to buy US contract manufacturer

Published: 25-Nov-2004

Canadian pharmaceutical company Patheon has entered into a definitive agreement to acquire MOVA Pharmaceutical Corporation, a leading US prescription pharmaceutical contract manufacturer located in Puerto Rico.


Canadian pharmaceutical company Patheon has entered into a definitive agreement to acquire MOVA Pharmaceutical Corporation, a leading US prescription pharmaceutical contract manufacturer located in Puerto Rico.

Patheon says the combined organisation will establish the company as a leader in pharmaceutical manufacturing with more than 5,400 employees and an extensive global network of 14 facilities - 10 in North America and four in Europe. The deal is expected to close in late December.

MOVA Pharmaceutical currently provides prescription pharmaceutical manufacturing services to 20 global pharmaceutical companies, and currently employs more than 1,600 people at its three FDA-approved pharmaceutical manufacturing facilities located in Caguas in Carolina and Manati, Puerto Rico.

'This transaction will transform Patheon by substantially enhancing its presence in the US,' said Robert Tedford, Patheon ceo. 'It provides us with significantly more prescription pharmaceutical manufacturing capacity with which to serve leading global pharmaceutical companies.'

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