Sigma-Aldrich Acquires Pharmorphix to Expand R&D Offering
Sigma-Aldrich Corporation has acquired Pharmorphix Limited, a privately held firm based in Cambridge, UK, that offers solid-form research services to the global pharmaceutical and biotech markets. The addition of Pharmorphix shall broaden SAFC Pharma's manufacturing services customer base and enhance its technology services offering for existing customers.
The mid-year addition of Pharmorphix, which had sales of roughly $5 million over the past 12 months, will not have a material impact on Sigma- Aldrich's sales. The acquisition is expected to help the Company achieve its growth goals over the next several years and is expected to be neutral to mildly accretive to earnings in 2006, with no initial charges. All current employees in good standing, including the existing Pharmorphix management team, will remain with the company. Terms of the purchase, which were not disclosed, were paid in cash.
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