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PharmSource - M&A in the Contract Manufacturing Industry: Implications and Outlook - 2018 Edition

  • ID: 4726787
  • Report
  • 52 pages
  • GlobalData
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FEATURED COMPANIES

  • 3SBio
  • Axcellerate Pharma
  • Cytovance Biologics
  • INC Research
  • PAREXEL International
  • SeQuent
  • MORE
PharmSource - M&A in the Contract Manufacturing Industry: Implications and Outlook - 2018 Edition

Summary

Mergers and Acquisitions of companies and facilities have been a high profile feature of the pharmaceutical CMO industry in current times. Acquisition deals consistently receive high profile coverage in industry news media, with questions surrounding valuations, strategic intent and which companies are potentially next targets continuously debated in the industry.

There were 130 acquisitions of service providers during the three-year period from 2015-2017. The majority of acquisitions targeted contract manufacturing organizations (CMOs) that focused on APIs-small molecule, dose, and analytical services. Nearly 70% of acquirers of services companies were strategic acquirers, that is, they were operating companies rather than investment firms. A few services companies changed hands as a consequence of the purchase of their parent company, while several CMOs were acquired by bio/pharma companies seeking to secure product supply.

More than half of acquirers were public companies, although 36% of company acquisitions were by PE firms or by CMOs owned by PE firms, with a high level of influence on the industry. Companies with complex technologies, including biologics manufacturing, are likely to be sought-after targets, as well as CMOs with specialized capabilities. However, in the coming years, M&A activity will be hindered by higher interest rates, uncertain trade and investment policies, high valuation expectations, and sizeable debt loads carried by some of the most active acquirers.

The report "PharmSource - M&A in the Contract Manufacturing Industry: Implications and Outlook - 2018 Edition" analyzes merger and acquisition (M&A) activity in the pharmaceutical contract manufacturing industry during the period 2015-2017. The services considered in this report are contract manufacturing of active pharmaceutical ingredients (APIs) and finished dose products, associated analytical services, and packaging. Contract research providers were excluded.

Scope
  • Helps bio/pharmaceutical manufacturing, development, and supply chain executives understand the implications of M&A activity on their supply base and sourcing options.
  • Helps executives at CMOs and associated contract services companies and investors to recognize the significance of M&A activities for the competitive dynamics of the industry and how company strategies must change to address the altering market.
  • To gain insights that might enable predictions of the nature and implications of M&A activity in the next three to five years.
Reasons to Buy

This 52-page report gives important, expert insight you won’t find in any other source. 28 tables and 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.
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • 3SBio
  • Axcellerate Pharma
  • Cytovance Biologics
  • INC Research
  • PAREXEL International
  • SeQuent
  • MORE
1. Executive Summary

2 Objectives and Methodology

3 Overview of M&A Activity 2015-2017
Target Characteristics
Acquirer Characteristics

4 Segment Close-Ups of M&A Activity, 2015-2017
Dose Manufacturing
API - Biologic
API - Small Molecule
Analytical Services
Formulation and Clinical Supplies Manufacturing
Packaging

5 Valuations

6 Facility Acquisitions

7 What It Means

8 The Outlook for M&A in the Manufacturing Services Industry

9 Notes on Methodology

10 Appendix
Service Acquisitions 2015-2017
Bibliography
Primary Research - Key Opinion Leaders Cited in this Report
About the Authors

List of Tables
Table 1: CMO Services Businesses Acquired as Part of Larger Deals, 2017
Table 2: Company Acquisitions by Target Service and Size, 2015-2017
Table 3: Company Acquisitions by Target Service and Ownership, 2015-2017
Table 4: Company Acquisitions by Target Market Scope and Size, 2015-2017
Table 5: Most Active Acquirers, 2015-2017
Table 6: Company Acquisitions of Dose Manufacturers, 2015-2017
Table 7: Company Acquisitions of API - Biologic Manufacturers, 2015-2017
Table 8: Company Acquisitions of API - Small Molecule Manufacturers, 2015-2017
Table 9: Company Acquisitions of Analytical Services, 2015-2017
Table 10: Company Acquisitions of Formulation Manufacturers, 2015-2017
Table 11: Company Acquisitions of Contract Packagers, 2015-2017
Table 12: Services Deals with Known Transaction Value and Multiples, 2015-2017
Table 13: Facility Acquisitions by CMOs, 2015-2017
Table 14: Most Active Acquirers, 2015-2017
Table 15: Acquisitions by PE Firms, 2015-2017
Table 16: Potential Targets: API - Biologic (Non-Cell and Gene Therapy) Service Providers
Table 17: Potential Targets: API - Biologic (Gene and Cell Therapy Only) Service Providers
Table 18: Service Acquisitions, 2015-2017

List of Figures
Figure 1: Company Acquisitions by Target Service Offering, 2015-2017
Figure 2: Company Acquisitions by Target Revenues, 2015-2017
Figure 3: Company Acquisitions by Target Ownership, 2015-2017
Figure 4: Acquisition Targets by Sophistication of Capabilities
Figure 5: Number of Acquisitions by Acquirer’s Core Business
Figure 6: Number of Acquisitions by Acquirer Ownership
Figure 7: Number of Acquisitions by Principal Acquirer Motivation
Figure 8: Dose Forms Manufactured by Acquired Dose Manufacturers
Figure 9: Pharma CMO Facility Acquisitions, 2015-2017
Note: Product cover images may vary from those shown
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  • 3SBio
  • ABC Laboratories
  • Absorption Systems
  • Abzena
  • Acacia Lifesciences
  • Accucaps
  • Accuratus Lab Services
  • Advanced BioScience Laboratories
  • Advantar Laboratories
  • Aeras
  • Agere Pharmaceuticals
  • AGIC Capital
  • Ajinomoto
  • Akorn
  • Albany Molecular Research Inc. (AMRI)
  • Alcala Farma
  • Alcon
  • Alkermes
  • Alliance Protein Laboratories
  • Almac Group
  • Alphora Research
  • Altasciences
  • Amatsigroup
  • AmatsiQ
  • American Peptide Company
  • AMPAC Fine Chemicals
  • ams Laboratories
  • Analytical Biochemical Laboratory
  • Analytical Lab Group
  • Antibioticos de Leon
  • Apicore US
  • Aptuit
  • Arcadia SGR
  • Arch Pharmalabs
  • Arcinova
  • Ardena Holding
  • Ardian
  • Argenta Limited
  • Arlington Capital Partners
  • Array BioPharma
  • Asahi Glass Company
  • Ash Stevens
  • Astellas Pharma
  • AstraZeneca
  • Audax Private Equity
  • Aurobindo Pharma
  • Avara Pharmaceutical Services
  • Avid Bioservices
  • Avista Pharma Solutions
  • Axcellerate Pharma
  • Axolabs
  • B & C Group
  • Bachem
  • BASF
  • Bayer
  • BCM
  • Bemis Company
  • Bioclin Research Laboratories
  • Biocon
  • BioDuro
  • Biogaran
  • Biogen
  • BIOMEVA
  • Blanver Farmoquimica
  • Blue Stream Laboratories
  • Boehringer Ingelheim
  • Bora Pharmaceuticals
  • Brammer Bio
  • Bristol-Myers Squibb
  • Bushu Pharmaceuticals
  • Cambrex Corporation
  • Cambrex High Point
  • Cancer Genetics Inc.
  • Capsugel
  • Captek Softgel International
  • CapVest Partners
  • Carbogen Amcis
  • Catalent Pharma Solutions
  • Cathay Capital
  • Cellca
  • Celonic
  • Cenexi
  • Cerbios Pharma
  • Charles River Laboratories
  • Clinical Supplies Management (CSM)
  • Clinigen Group
  • CMC Biologics
  • Cobra Biologics
  • Co-Formulate Limited
  • Cognate Bioservices
  • Coldstream Laboratories
  • Companhia Brasileira de Esterilizacao
  • Cook Pharmica
  • CordenPharma International
  • Covance
  • Crucell
  • Crystallics
  • CU Chemie Uetikon
  • Cytovance Biologics
  • Daiichi Sankyo
  • Delpharm
  • Disposable-Lab
  • Doppel Farmaceutici
  • DPT Laboratories
  • EAG Laboratories
  • Edgewater Capital Partners
  • Emergent BioSolutions
  • Epic Pharma
  • Epirus Biopharmaceuticals
  • EQT
  • Eurofins Scientific Group
  • Euticals Group
  • Evonik Industries
  • Evotec
  • Exova
  • Experchem Laboratories
  • F. Hoffmann-La Roche
  • Famar
  • Fareva Holding
  • Fertin Pharma
  • Forest Laboratories
  • Formex
  • Fresenius Kabi Product Partnering
  • Frontida BioPharm
  • Gadea Grupo Farmaceutico
  • Galien LPS
  • GEA Group
  • GeneDesign
  • Generis
  • Generis Farmaceutica
  • GHO Capital
  • Gland Pharma
  • GlaxoSmithKline
  • Glycotope
  • Grand River Aseptic Manufacturing
  • Great Point Partners
  • Halo Pharmaceutical
  • Healix Infusion Therapy
  • Hitachi Chemical Co.
  • Hospira
  • Hovione
  • Humanwell Healthcare
  • Idis
  • IDT Biologika
  • Impax Laboratories (Inactive)
  • INC Research
  • Infa Group
  • inVentiv Health
  • IQ Pharmatek
  • IRIX Pharmaceuticals
  • Irvine Pharmaceutical Services
  • Isochem
  • Johnson Matthey
  • JSR Corporation
  • J-Star Research
  • KBI Biopharma
  • Kemwell Biopharma
  • Kremers Urban Pharmaceuticals
  • Kuecept
  • LGC
  • Lisapharma
  • Livia Group
  • Lonza Group
  • Lubrizol Corporation
  • Lyophilization Services of New England
  • Mariol Industrial
  • Marken
  • MaSThercell
  • Meda
  • Medicure
  • Merck
  • Merck KGaA
  • Microbiology & Quality Associates
  • Microbiology Research Associates
  • Micro-Macinazione
  • Millmount Healthcare
  • Minafin Group
  • Mitim
  • Miwana
  • Molmed
  • Mylan
  • Nelson Laboratories
  • Neuland Laboratories
  • NextPharma Technologies
  • Nitto Denko Avecia (Avecia)
  • Noramco
  • Novacap Group
  • Novasep
  • NuPharm Laboratories
  • Ology Bioservices (formerly Nanotherapeutics)
  • Olon
  • OnTarget Chemistry
  • Opexa Pharmaceuticals (Inactive)
  • Orgenesis
  • PacificGMP
  • Pamplona Capital Management
  • Paragon Bioservices
  • PAREXEL International
  • Particle Sciences
  • Partners Group
  • Patheon
  • PCI Pharma Services
  • PCT (Progenitor Cell Therapy)
  • Permira Advisers
  • Perrigo Company
  • Pfizer
  • PharmaCell
  • Pharmaceutical Development Services Division
  • Pharmapak Technologies
  • Pharmaron
  • Pharmaron Beijing Co
  • Pharmatek Laboratories
  • Pharmaterials
  • PharmaVize
  • Pharmorphix (Sigma Aldrich)
  • Piramal Pharma Solutions
  • PMC Group
  • Polpharma
  • Polypeptide Group
  • PolyPeptide Laboratories
  • Porton Fine Chemicals
  • Powdersize
  • ProBioGen
  • Puracap Pharmaceutical
  • QS Pharma
  • Quality Compliance Laboratories
  • Quantum Pharma
  • Quantum Pharmaceutical
  • Quotient Clinical
  • Quotient Sciences
  • QuVa Pharma
  • Recipharm
  • Recro Pharma
  • Rentschler Biotechnologie
  • Roche
  • Ropack Pharma Solutions
  • Roquette Freres
  • Rovi (Laboratorios Farmaceúticos Rovi)
  • R-Tech Ueno
  • Sandoz
  • Sanofi
  • Sartorius
  • Sartorius Stedim Biotech
  • Scynexis
  • Selexis
  • SeQuent
  • Serum Institute of India
  • SGS Life Science Services
  • Shanghai Fosun Pharmaceutical (Group) Co
  • Sharp Packaging Services
  • Shasun Pharmaceuticals
  • Shenzhen Hepalink Pharmaceutical
  • Shire
  • Siegfried Holding
  • Sinensis Life Sciences
  • SK Biotek
  • SK Capital Partners
  • Smith & Nephew
  • Sotera Health
  • Stemedica International
  • Sterigenics
  • SteriPack Group
  • Sterling Pharma Solutions
  • Strides Shasun (formerly Strides Arcolab)
  • Sucampo Pharmaceuticals
  • Suir Pharma
  • Sun Pharmaceutical Industries
  • Swander Pace Capital
  • Swiss Pharma Nigeria
  • Symbiotec Pharmalab
  • Synerlab Group
  • Takeda
  • Teva Pharmaceutical Industries
  • TGA Sciences
  • The Carlyle Group
  • The Chemistry Research Solution (TCRS)
  • The Ritedose Corporation
  • Therapure Biopharma
  • Thermo Fisher Scientific
  • TPI Enterprises
  • Transferra Nanosciences
  • Transgene
  • Trilantic Capital Partners
  • Unimedic Group
  • Unique Pharmaceuticals
  • UniTao Pharmaceuticals
  • United Parcel Service (UPS)
  • Unither Pharmaceuticals
  • VGXI
  • Vibalogics
  • ViroCyt
  • Vistin Pharma
  • vivoPharm Pty
  • Wacker Chemie
  • Whitehouse Laboratories
  • WuXi AppTec
  • Xceleron
  • Xcelience
  • Yegna Manojavam Drugs and Chemicals
  • Zenotech Laboratories
Note: Product cover images may vary from those shown
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