China-based R&D services organization- Pharmaron Beijing Co., Limited has recently announced entering into a strategic agreement with AbbVie to acquire Allergan Biologics Limited (The ABL Site) in the United Kingdom, under a transaction deal of USD 118.7 million. Reports have it that the transaction is anticipated to reach closure in the second quarter of 2021, subject to the customary closing conditions.
It has been claimed that the deal would be in synergy to Pharmaron’s latest acquisition of Absorption Systems in the United States to build an integrated CGT services platform. Apparently, this integrated platform, which has been deemed to offer preclinical research, commercial production services for CGT products, and product development, is expected to deliver unprecedented value proposition to the company’s partners in the rapidly transforming field of innovative therapies.
According to official sources, the ABL site comprises of a state-of-the-art, flexible cGMP biomanufacturing unit situated in Liverpool, UK with nearly 150 employees. Leveraging the benefits of industry-leading expertise in the process R&D, advanced analytical capabilities and cGMP production, Allergan Biologics Limited has considerably established a solid foundation and expertise in Cell and Gene Therapy product development while making use of a suspension system for production.
Commenting on the recent acquisition, Chairman and CEO of Pharmaron- Dr. Boliang Lou cited that the company is pleased to have the ABL site be a part of Pharmaron Group as it is enthralled with the complex biological manufacturing abilities and CGT focused process R&D of the site.
He added that the addition of the new platform would enable Pharmaron to further bolster its CGT services platform and allow it to better serve its partner’s needs in emerging therapies. Dr. Lou further mentioned that the company is highly committed to further expanding capacities and capabilities at the Liverpool site to address the burgeoning demand.
Moreover, the transaction also demonstrates the company’s commitment to emerge as a global leader in drug R&D services across diverse therapeutic modalities.