A Cheshire pharmaceuticals giant has acquired a California-based counterpart for £221.5m.
Dechra Pharmaceuticals has snapped up Med-Pharmex which employs approximately 130 people and was founded in 1983.
The Pomona-based company manufactures its own products at its facilities, with capacity which Dechra plans to utilise for its own manufacturing strategy over time.
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For the 12 months ended December 31, 2021, Med-Pharmex generated audited revenues of $43m and an adjusted EBITDA of $15.3m.
Dechra Pharmaceuticals CEO Ian Page said: "I am delighted that we have completed the acquisition of Med-Pharmex, a company that I have been in dialogue with for a number of years.
"The US market is highly consolidated, therefore this is a unique opportunity to add several new products to our portfolio, enter the US FAP market and improve the manufacturing footprint for our North American business."
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