Piramal Enterprises has invested $30.65 million towards acquiring Coldstream Laboratories Inc. (Coldstream), through its wholly owned subsidiary in the USA in an all cash transaction. Of this, $5.65 million would be towards the purchase of the facility building which is currently leased to Coldstream, while the rest would be towards purchase of 100% of the company’s shares. Coldstream is a Contract Development and Manufacturing Organisation (CDMO) focused on the development and manufacturing of sterile injectable products.
Coldstream was founded in 2007 and is majority owned by University of Kentucky Research Foundation (an affiliate of the University of Kentucky). Coldstream is a specialty pharmaceutical contract manufacturer with an emphasis on clinical trial to commercial-scale manufacturing of sterile liquid and lyophilized parenterals and injectables. Coldstream has developed differentiated expertise to formulate and manufacture high potency and cytotoxic compounds including Antibody Drug Conjugates (ADCs). The company operates from a FDA approved facility located in Lexington, Kentucky, USA. Revenues of Coldstream over the last three years are $14 million (2014E), $13 million (2013) and $9 million (2012). Coldstream currently employs 91 people.
Piramal Pharma Solutions is an integrated solutions provider offering comprehensive range of services across the drug lifecycle. With a successful performance record of over four-decade in API supply (active pharmaceutical ingredients), drug products, drug discovery services, and with supply facilities in North America, Europe and Asia, it has established itself as a global market leader.
