Agilent to Acquire North American CDMO BIOVECTRA
22 Julio 2024 - 8:01AM
Business Wire
Expands Agilent’s end-to-end biopharma
solutions that accelerate drug discovery, development, and
manufacturing
Agilent Technologies Inc. (NYSE: A) today announced it has
signed a definitive agreement to acquire BIOVECTRA, a leading
specialized contract development and manufacturing organization,
for $925 million.
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A BIOVECTRA manufacturing facility
(Photo: Business Wire)
Based in Canada, BIOVECTRA produces biologics, highly potent
active pharmaceutical ingredients, and other molecules for targeted
therapeutics.
The acquisition builds on Agilent’s CDMO specialization in
oligonucleotides and CRISPR therapeutics in three key areas:
- Expands portfolio of services. BIOVECTRA offers sterile
fill-finish services, pDNA and mRNA capabilities, and lipid
nanoparticle (LNP) formulation.
- Adds rapidly growing modalities. BIOVECTRA brings
expertise in fast-growing segments, including antibody drug
conjugates (ADCs), highly potent active pharmaceutical ingredients
(HPAPIs), and GLP-1.
- Brings world-class capabilities to support gene editing.
BIOVECTRA’s capabilities in biologics combined with Agilent’s
expertise in gRNA will provide customers with a single source for
gene-editing technology.
Both BIOVECTRA and Agilent are fully integrated CDMOs with
state-of-the-art facilities that follow current Good Manufacturing
Practices (cGMP), a high standard for methods, facilities, and
controls used in manufacturing, processing, and packaging of active
pharmaceutical ingredients.
“We look forward to welcoming BIOVECTRA to Agilent,” said
Agilent President and CEO Padraig McDonnell. “The company has an
outstanding record of innovation, and its employees share our
commitment to providing integrated biopharma solutions that
continuously deliver more value to customers.”
McDonnell continued: “Plus, BIOVECTRA’s manufacturing
capabilities further expand Agilent’s end-to-end biopharma
offerings into new growth vectors, including workflows that
seamlessly integrate analytical instrumentation, consumables, and a
wide range of lab services.”
BIOVECTRA supports early-stage clinical development to
large-scale commercial manufacturing. The company currently serves
biotech and pharmaceutical companies in North America and
Europe.
“BIOVECTRA is excited to join Agilent, a company whose
dedication to people and customers is very much aligned with ours,”
said Oliver Technow, CEO of BIOVECTRA. “BIOVECTRA has dedicated
nearly 55 years to the relentless pursuit of helping our customers
solve complex problems that improve patients’ lives. This
synergistic pairing of our capabilities with Agilent’s will further
enhance the value we can offer to our customers.”
BIOVECTRA delivered $113 million in revenue during 2023 and
expects double-digit revenue growth in 2024. Agilent expects that
the acquisition will be $0.05 dilutive to non-GAAP EPS in the first
full year after closing. Agilent will fund the transaction using a
mix of cash on hand and debt financing.
The transaction is subject to customary closing conditions,
including receipt of regulatory approvals, and is expected to close
before 2025. Upon close, BIOVECTRA will become part of the Agilent
Diagnostics and Genomics Group.
About BIOVECTRA
BIOVECTRA (www.biovectra.com) is a global biotech and
pharmaceutical CDMO (contract development and manufacturing
organization) that specializes in clinical-to-commercial scale
production capabilities for biologics, small molecules,
bioreagents, lipids, pDNA, mRNA and LNP manufacturing and fill
finish for drug products. Flexibility, creativity, process
optimization and compliance are at the heart of our method. With
nearly 55 years of experience and cGMP facilities in Prince Edward
Island and Nova Scotia, Canada, we assure our programs advance on
time and with the highest quality outcomes.
About Agilent Technologies
Agilent Technologies Inc. (NYSE: A) is a global leader in
analytical and clinical laboratory technologies, delivering
insights and innovation that help our customers bring great science
to life. Agilent’s full range of solutions includes instruments,
software, services, and expertise that provide trusted answers to
our customers’ most challenging questions. The company generated
revenue of $6.83 billion in fiscal 2023 and employs approximately
18,000 people worldwide. Information about Agilent is available at
www.agilent.com. To receive the latest Agilent news, subscribe to
the Agilent Newsroom. Follow Agilent on LinkedIn and Facebook.
Forward Looking Statements
This news release contains forward-looking statements as defined
in the Securities Exchange Act of 1934 and is subject to the safe
harbors created therein. The forward-looking statements contained
herein include, but are not limited to, statements regarding the
capabilities the acquisition brings and the assets’ future uses.
These forward-looking statements involve risks and uncertainties
that could cause Agilent’s results to differ materially from
management’s current expectations. Such risks and uncertainties
include, but are not limited to, unforeseen changes in the strength
of Agilent’s customers’ businesses; unforeseen changes in the
demand for current and new products, technologies, and services;
unforeseen changes in the currency markets; customer purchasing
decisions and timing; and the risk that Agilent is not able to
realize the savings expected from integration and restructuring
activities. In addition, other risks that Agilent faces in running
its operations include the ability to execute successfully through
business cycles; the ability to meet and achieve the benefits of
its cost-reduction goals and otherwise successfully adapt its cost
structures to continuing changes in business conditions; ongoing
competitive, pricing and gross-margin pressures; the risk that its
cost-cutting initiatives will impair its ability to develop
products and remain competitive and to operate effectively; the
impact of geopolitical uncertainties and global economic conditions
on its operations, its markets and its ability to conduct business;
the ability to improve asset performance to adapt to changes in
demand; the ability of its supply chain to adapt to changes in
demand; the ability to successfully introduce new products at the
right time, price and mix; the ability of Agilent to successfully
integrate recent acquisitions; the ability of Agilent to
successfully comply with certain complex regulations; and other
risks detailed in Agilent’s filings with the Securities and
Exchange Commission, including its quarterly report on Form 10-Q
for the fiscal quarter ended April 30, 2024. Forward-looking
statements are based on the beliefs and assumptions of Agilent’s
management and on currently available information. Agilent
undertakes no responsibility to publicly update or revise any
forward-looking statement.
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version on businesswire.com: https://www.businesswire.com/news/home/20240722078870/en/
Investor Contact Parmeet Ahuja +1 408 345 8948
parmeet_ahuja@agilent.com
Media Contact Sarah Litton +1 408 361 0405
sarah.litton@agilent.com
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