Novacap to acquire PCI Synthesis 21st June 2018
Novacap, a worldwide player in pharmaceutical synthesis and advanced specialties, has signed an agreement to acquire Boston-based PCI Synthesis, a leading US pharmaceutical contract development and manufacturing organization (CDMO), further reinforcing Novacap’s capabilities and offering for the pharmaceutical industry.
Locatedin Boston’s booming biotech and pharmaceutical hub, PCI Synthesis offers its customers a wide range of services, including process research and early stage development as well as commercial production of new chemical entities (NCEs), generic APIs and other specialty chemical products. The company operates a R&D facility in Devens, MA, and a manufacturing facility in Newburyport, MA, and generates a turnover of $32 million. Leveraging its wide business offering and technologies, proximity to customers, reactivity and undisputed project management skills, PCI Synthesis has achieved tremendous growth over the last years, most recently closing its fifth consecutive year-to-year of double-digit growth.
This has been driven by more than forty new customers and an expansion into new offerings such as GMP manufacturing for nutraceuticals and pharma foods, large-scale cryogenic manufacturing, large-scale chromatography, controlled substance development, and medical-grade polymers.
The company is North America’s most awarded drug substance manufacturer and has become a strategic partner for the US pharmaceutical and biotechnology industries. The combination of the two companies will provide PCI Synthesis with additional resources to continue its development while reinforcing Novacap’s global leadership in pharmaceutical synthesis with 12 cGMP sites, 2 main R&D centres and its comprehensive range of services and technologies dedicated to clinical development and commercial manufacturing.
“This acquisition validates our strategy, resources, offerings as well as our great employees and wonderful customers. Since we started the company more than 20 years ago, we’ve continued to evolve and innovate, and by teaming with Novacap, we will continue to do so, now with access to Novacap’s deep technical expertise to better serve our customers,” said Ed Price, Founder and President of PCI Synthesis”
“The acquisition of PCI Synthesis perfectly fits with our strategic roadmap as it will strengthen our offering to the pharmaceutical industry and provide Novacap with a strong and innovative platform to accelerate our development in the US. The two companies operate complementary CDMO activities and share common values such as entrepreneurship, operational excellence and dedication to customer satisfaction,” said Pierre Luzeau, CEO of Novacap.