Cary-based CiVentChem Acquired by Sterling Pharma Solutions

4/7/19

By Nicholas Thompson, NCBIZNews

A British pharmaceutical company has purchased Cary-based CiVentChem’s only U.S. facility for an undisclosed amount.

Sterling Pharma Solutions announced the acquisition of CiVentChem’s international headquarters near Research Triangle Park.

CiVentChem is a pharmaceutical contract development and manufacturing company, specializing in the development of small molecules solutions.

Established in 1994, the company expanded to its current facility after opening a large-scale research and development laboratory in Hyderabad, India. Offering both clinical and generic products, the company is a leading solutions provider for the global pharmaceutical, biotech and life sciences industries.

Sterling Pharma Solutions is also in the market of small molecules solutions.

With this acquisition, Sterling has secured a more localized presence for the company’s U.S. clients, allowing for the further chemistry development capabilities to support pre-clinical and early phase clinical supply.

“The North American market now makes up 70 percent of our customer portfolio which was one of the major reasons behind the decision to look for a facility in the US,” said Kevin Cook, CEO of Sterling, in a statement. “This has been primarily driven by the market’s emerging pharma sector and customer demand for our specialist capabilities in complex and challenging chemistry.”

The purchase of CiVentChem’s Cary facility is just the latest step in Sterling’s ongoing growth strategy, following the company’s own majority stake acquisition by European healthcare investor, GHO Capital in early 2019.

According to the announcement, CiVentChem will continue to operate out of its manufacturing plant in India as an entity for Sterling.

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