This report is the fourth edition of our analysis of mergers and acquisitions in the pharmaceutical contract manufacturing industry. PharmSource is the most definitive, trustworthy source of strategic insight on this topic in the bio/pharmaceutical realm.
Scope
This 59-page report gives important, expert insight you won’t find in any other source. 12 tables and 20 figures throughout the report illustrate major points and trends. This report is required reading for -- CMOs: market trends, strategic planning, competitive intelligence, performance benchmarking
- Bio/Pharma: supplier performance benchmarking, market trends, competitive intelligence
- Private equity and stock analysts: target identification and analysis, portfolio company performance benchmarking
Reasons to Buy
- Overview of M&A in the Pharma CMO Industry
- Detailed view of CDMO performance by number of deals, based on the publisher Deals database
- Analysis of M&A and private equity investment by target's specific manufacturing services
Table of Contents
- About
- Executive Summary
- Players
- Technology Briefing
- Deal types
- Trends
- Industry Analysis
- Objectives and methodology
- Overview of M&A activity 2021-22
- Target characteristics
- Acquirer characteristics
- Geography
- Top acquirers
- Catalent’s deal activity
- Recipharm’s deal activity
- Segment close-ups of M&A activity, 2021-22
- Deal advisors
- Top financial advisors
- Top legal advisors
- Valuations
- Facility acquisitions
- What it means
- The outlook for M&A
- API - biologic targets
- API - cell and gene therapy targets
- Value Chain
- Companies
- Appendix
- Methodology
- Bibliography
- Primary research - key opinion leaders
- Further reading
- About the Authors
- Table 1: CMO M&A trends, 2021-22
- Table 2: Company acquisitions by target service offering and year, 2018-22
- Table 3: Company acquisitions by target service offering and target ownership, 2021-22
- Table 4: Company acquisitions by target service offering and deal region, 2021-22
- Table 5: Company acquisitions by target service offering and acquirer ownership, 2021-22
- Table 6: Services deals with known transaction value and multiples, 2021-22
- Table 7: Facility acquisitions by CMOs, 2021-22
- Table 8: Acquisitions by PE firms, 2021-22
- Table 9: Potential targets: API - biologic (protein & peptide) service providers
- Table 10: Potential targets: API - biologic (gene and cell therapy) service providers
- Table 11: Company acquisitions and private equity deals, 2021-22
- Table 12: Further reading
- Figure 1: CMO M&A activity by year, 2018-22
- Figure 2: Leading acquirers in the global pharma CMO industry, 2021-22
- Figure 3: Top M&A trends in the CMO industry, 2021-22
- Figure 4: CMO M&A activity, 2021-22
- Figure 5: CMO M&A activity by year, 2018-22
- Figure 6: CMO M&A activity percentage change by year, 2018-22
- Figure 7: Company acquisitions by target service offering, 2021-22
- Figure 8: Company acquisitions by target ownership, 2021-22
- Figure 9: Company acquisitions by target ownership and service type, 2021-22
- Figure 10: Acquisition targets by sophistication of capabilities, 2021-22
- Figure 11: Number of acquisitions 2021-22 by acquirer’s core business
- Figure 12: Number of acquisitions by acquirer’s ownership
- Figure 13: Number of acquisitions by acquirer’s ownership and target service type
- Figure 14: Number of acquisitions by top deal countries, 2021-22
- Figure 15: Most active acquirers, 2021-22
- Figure 16: Dose forms manufactured by acquired dose manufacturers, 2021-22
- Figure 17: Top financial advisors to company acquisitions, 2021-22
- Figure 18: Top legal advisors to company acquisitions, 2021-22
- Figure 19: Pharma CMO facility acquisitions, 2021-22
- Figure 20: The contract manufacturing value chain
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- 3i Group Plc
- ABC Farmaceutici SpA
- Abu Dhabi Investment Authority
- Abzena Ltd
- Accutest Research Laboratories (I) Pvt Ltd
- ACE Pharmaceuticals BV
- Acino International AG
- Actylis
- AcuraBio Pty Ltd
- ADC Biotechnology Ltd
- AdhexPharma
- ADL BioPharma SLU
- ADQ
- Adragos Pharma Gmbh
- Advent International Corp
- Advik Laboratories Ltd
- AGC Biologics Inc
- Akums Drugs & Pharmaceuticals Ltd
- Alcami Corp
- Aldevron LLC
- Alora Pharmaceuticals LLC
- ALS Ltd
- Altan Pharma Ltd
- Altasciences Co Inc
- Alto Partners SGR SpA
- Alvotech SA
- Ampersand Capital Partners
- AmpTec GmbH
- ANG Lifesciences India Ltd
- ANGUS Chemical Company
- ANI Pharmaceuticals Inc
- Anjac Health & Beauty
- Ankur Drugs and Pharma Ltd. (Inactive)
- Anthem Biosciences Pvt Ltd
- API Corp
- Apnar Pharma LP
- Appco Pharma LLC
- APR Applied Pharma Research SA
- Aragen Life Sciences Pvt Ltd
- Arcline Investment Management LP
- Ardena Holding NV
- Arevipharma GmbH
- Arranta Bio
- Asahi Kasei Medical Co Ltd
- Asahi Songwon Colors Ltd
- Ascendia Pharmaceuticals Inc
- Ascensus Specialties LLC
- Astorg Partners
- Astral Steritech Pvt Ltd
- AstraZeneca Plc
- Astrea SA
- Atara Biotherapeutics Inc
- Athenex Inc
- Atlas Life Sciences Pvt Ltd
- Aurex Laboratories LLC
- Austrianova Singapore Pte Ltd
- Avomeen Analytical Services LLC
- Aztiq Pharma Partners
- Batavia Biosciences BV
- Bayer SA (Brazil)
- BBA Capitalpartners Management GmbH
- BDR Pharmaceuticals Internationals Pvt Ltd
- Beecken Petty O'Keefe & Company
- Bio Elpida
- BioAgilytix Labs LLC
- BioCentriq
- Bioconnection BV
- Biodextris Inc
- BioDuro-Sundia
- BioIVT LLC
- Bionique Testing Laboratories Inc
- Bionova Scientific Inc
- Biosynth Ltd
- BirgiMefar Group
- bluebird bio Inc
- Bora Pharmaceuticals Co Ltd
- Bristol-Myers Squibb Co
- Bureau Veritas SA
- Bushu Pharmaceuticals Ltd
- Cambrex Corp
- Cascade Chemistry
- Catalent Inc
- Celerion Inc
- Cellipont Bioservices
- Cenexi SAS
- Central Glass Germany GmbH
- Centrient Pharmaceuticals Netherlands BV
- Cevec Pharmaceuticals GmbH
- Charles River Laboratories International Inc
- Chemic Laboratories Inc
- China Gateway Pharmaceutical Development Co Ltd
- ChrysCapital Management Company
- Cinven Ltd
- CJ Group
- Clean Biologics SAS
- Clinigen Ltd
- CMAB Biopharma Inc
- Cobra Biologics Ltd
- Cognate BioServices Inc
- Corden Pharma International GmbH
- Corealis Pharma Inc
- CoreRx Inc
- Corona Remedies Pvt Ltd
- CrystalGenomics Inc
- Curapath SL
- Curia Global Inc
- Curida AS
- Cytiva
- Danaher Corp
- Delpharm SAS
- Delphi Genetics SA
- Diatec Monoclonales AS
- Drug Development Solutions Ltd
- DRUGSTORE MORI co..,Ltd
- Eczacibasi Holding AS
- Eden Biologics Inc
- Edgewater Capital Partners LP
- EirGenix Inc
- EKG Life Science Solutions LLC
- Elanco Animal Health Inc
- Element Materials Technology BV
- Element Materials Technology Group Holdings Ltd
- Enaltec Labs Pvt Ltd
- Encube Ethicals Pvt Ltd
- Enzychem Lifesciences Corp
- Erbi Biosystems Inc
- ERYTECH Pharma SA
- Esteve Quimica SA
- Ethypharm SAS
- Eucodis Bioscience GmbH
- EuroAPI SAS
- Eutech Scientific Services Inc
- Everstone Capital Asia Pte Ltd
- Evotec SE
- Exelead Inc
- Expression Systems LLC
- Fagron NV
- Fertin Pharma AS
- Flamma SpA
- Flerie Invest AB
- Florintree Advisors Private Limited
- Forge Biologics Inc
- Formulated Solutions LLC
- Foster Delivery Science Inc
- French Tech Sovereignty
- Fresenius Kabi AG
- FSN Capital VI
- Fujian Kerui Pharmaceutical Co Ltd
- Fujifilm Holdings Corp
- Galbraith Laboratories Inc
- GC Corp
- GEM Global Yield LLC SCS
- Genezen Laboratories Inc
- GenIbet Biopharmaceuticals SA
- GenNx360 Capital Partners, L.P.
- Genome & Co
- Genscript Biotech Corp
- Gensenta Ilac Sanayi ve Ticaret AS
- GL Chemtec International Ltd
- Gland Pharma Ltd
- Global One Healthcare Holding LLC
- GNS Holdings Limited
- Goldman Sachs Asset Management LP
- Great Point Partners, LLC
- Green Cross Cell Corp
- H.I.G. Capital LLC
- HBM Healthcare Investments AG
- Hbm Holdings Ltd
- Hepatic Cell Therapy Support SA
- Hillhouse Capital Group
- Hubei Yuyang Pharmaceutical Co Ltd
- Ice Group AS
- Idifarma Desarrollo Farmaceutico SL
- Ilya Pharma AB
- ImmunityBio Inc
- Impact Analytical Inc
- Ind-Swift Ltd
- Industria Chimica Emiliana SpA
- Infinity Laboratories
- Inflexion Buyout Fund VI
- Inflexion Enterprise Fund V
- Inobic (Asia) Company Limited
- Intas Pharmaceuticals Ltd
- Intrum AB
- InvAscent
- IPCA Laboratories Ltd
- iPharma Labs Inc
- IriSys LLC
- Japan Tissue Engineering Co Ltd
- Jitsubo Co Ltd
- Kartesia Advisor LLP
- Kayaku Co Ltd
- KCAS Bioanalytical & Biomarker Services
- Keensight Capital
- Kindeva Drug Delivery LP
- Kiniciti LLC
- KKR & Co Inc
- Laboratorio Micro-Bios SL
- LakePharma Inc
- Leiters
- Leonard Green & Partners LP
- Leukocare AG
- Lincoln Pharmaceuticals Ltd
- List Biological Laboratories Inc
- Lonza Group Ltd
- Lotte Corp
- Lotus Pharmaceutical Co Ltd
- LTS Lohmann Therapie-Systeme AG
- LX International Corp
- Lyka Labs Ltd
- Lyophilization Services of New England Inc
- Mabxience Holding SL
- Malladi Drugs & Pharmaceuticals Ltd
- Management Team-Skyepharma Production SAS
- Marksans Pharma Ltd
- Meditab Specialities Pvt. Ltd.
- Merck KGaA
- Metrics Contract Services
- MGC Pharmaceuticals Ltd
- MicroBiopharm Japan Co Ltd
- MicroConstants Inc
- MidCap Financial Services LLC
- Millstone Medical Outsourcing LLC
- Mipharm SpA
- Murano Bidco Ltd
- Mycoscience Inc
- Nanosyn Inc
- National Resilience Inc
- Nature Technology Corp
- Ncardia Services BV
- NextPharma Technologies GmbH
- NextPharma Technologies Holding Ltd
- Nichepharm Lifesciences Pvt Ltd
- Nissin Pharmaceutical Co Ltd
- Noramco Inc
- Nordic BioAnalysis AB
- Norgine BV
- NovaQuest Capital Management LLC
- Novartis AG
- Novartis Gene Therapies
- Novartis Ringaskiddy Ltd
- Novitium Pharma LLC
- Novo Holdings AS
- NPO Petrovax Pharm
- Nutra-Med Packaging Inc
- NUVISAN Pharma Holding GmbH
- Nuvo Pharmaceuticals Inc
- Ology Bioservices Inc
- Optimus Pharma Pvt Ltd
- Orchid Pharma Ltd
- Organix Inc
- Organon & Co
- Ortiv-Q3 Research Pvt Ltd
- Osmotica Pharmaceutical Corp
- Outlook Therapeutics Inc
- Oxford Genetics Ltd
- Pace Analytical Life Sciences LLC
- Pace Analytical Services LLC
- PAG
- Panacea Biotec Ltd
- Pangen Biotech Inc
- Par Pharmaceutical Inc
- PCI Pharma Services
- Pepscan Holding NV
- Petrichor Healthcare Capital Management
- Pfizer Inc
- Pharma Packaging Solutions
- Pharmaron Beijing Co Ltd
- Pharmax Pharmaceuticals FZ-LLC
- Philip Morris International Inc
- Phosphorex Inc
- Pillar5 Pharma Inc
- Piramal Pharma Solutions Inc
- Pluristyx Inc
- Polyplus-Transfection SA
- Porton Pharma Solutions Ltd
- PPD Inc
- Praxis Packaging Solutions
- Precision NanoSystems Inc
- ProtaGene GmbH
- Provepharm life Solutions SA
- Psycheceutical
- PT Kimia Farma Tbk
- PT Pyridam Farma Tbk
- Q1 Scientific Ltd
- Quay Pharmaceuticals Ltd
- Quinta-Analytica Sro
- Quotient Sciences Alnwick Ltd
- Quotient Sciences Ltd
- Recipharm
- Recipharm AB
- Relief Therapeutics Holding AG
- RheinCell Therapeutics GmbH
- Rigenerand Srl
- Rubicon Research Pvt Ltd
- Sakar Healthcare Ltd
- Sandoz Canada Inc
- Sannova Analytical Inc
- Sanofi
- Sanwa Kagaku Kenkyusho Co Ltd
- SCA Pharmaceuticals Inc
- Searchlight Pharma Inc
- Sekhmet Pharmaventures Pvt Ltd
- Sekisui XenoTech LLC
- SENSILAB Polska Sp zoo SKA
- SEQENS
- Seran BioScience LLC
- Serum Institute of India Pvt Ltd
- Sever Pharma Solutions AB
- SFW Capital Partners, LLC
- SGS SA
- Shanghai MicroPort Medical Group Co Ltd
- Shinshin Pharmaceutical Co Ltd
- Signet Healthcare Partners
- Skyepharma Production SAS
- Snapdragon Chemistry Inc
- Societal CDMO Inc
- Softgel Healthcare Pvt Ltd
- Solvias AG
- Sotax AG
- Spera Pharma Inc
- SteriPack Group
- Sterling Pharma Solutions Ltd
- Strem Chemicals Inc
- Strides Pharma Science Ltd
- Sunsho Pharmaceutical Co Ltd
- Suven Pharmaceuticals Ltd
- Suzhou Fifth Pharmaceutical Factory Co Ltd
- Suzhou Linhua Medical Equipment Co Ltd
- Swissfillon AG
- Symed Laboratories Ltd
- Symeres
- Synexa Life Sciences BV
- Syngene International Ltd
- Syntone Ventures LLC
- SYRINX Bioanalytics Oy
- Takeda Pharmaceutical Co Ltd
- Tapemark Co
- Tea Capital Partners Co Ltd
- Teijin Ltd
- Teligent Inc
- ten23 Health AG
- Tentamus Group GmbH
- Terry Gou
- tesa Labtec GmbH
- Teva Pharmaceutical & Chemical (Hangzhou) Co Ltd
- Tevapharm India Private Limited
- The Capital Group Companies, Inc.
- The Carlyle Group Inc.
- The Ritedose Corp
- Thermo Fisher Scientific Inc
- Tjoapack BV
- TOT Biopharm Co Ltd
- Towa Pharmaceutical Co Ltd
- TRC Capital Corp
- Trirx Pharmaceutical Services LLC
- True North Managers LLP
- TWi Pharmaceuticals Inc
- Undisclosed
- Uniao Quimica Farmaceutica Nacional SA
- Unither Pharmaceuticals SAS
- Upperton Ltd
- Uquifa SA
- Vanamali Organics Pvt Ltd
- Vectura Group Plc
- Veeda Clinical Research Ltd
- Velesco Pharmaceutical Services LLC
- V-Ensure Pharma Technologies Pvt Ltd
- Vibalogics GmbH
- Vici Health Sciences LLC
- Vigene Biosciences Inc (Inactive)
- Vikas LifeCare Ltd
- ViruSure GmbH
- Vitruvian Partners LLP
- Vivitide LLC
- Viyash Life Sciences Pvt Ltd
- Wacker Biotech US Inc
- Wacker Chemie AG
- Watson Pharma Pvt Ltd
- Wavelength Pharmaceuticals
- Welsh, Carson, Anderson & Stowe
- Woerwag Pharma GmbH & Co KG
- WuXi AppTec Co Ltd
- WuXi Biologics Cayman Inc
- WuXi STA (Shanghai) Co Ltd
- WuXi Vaccines Co Ltd
- Xpress Biologics SA
- Yapan Bio Pvt Ltd
- Yonsung Fine Chemicals Co Ltd
- Zhejiang Jiuzhou Pharmaceutical Co Ltd
- Zollaris Laboratories Corp
- Zydus Lifesciences Ltd
