Avara Acquires Astellas U.S. Manufacturing Facility

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Aug 03, 2016, 07:10 ET

NORWALK, Conn., Aug. 3, 2016 /PRNewswire/ -- Avara Pharmaceutical Services, Inc. announced that its subsidiary, Avara Norman Pharmaceutical Services, Inc. ("Avara") entered into an agreement under which Avara will acquire Astellas's wholly owned manufacturing subsidiary Astellas Pharma Technologies (APT), Inc., located in Norman, Oklahoma.

Tim Tyson, a global leader in the pharmaceutical industry, is Chairman and CEO of Avara Pharmaceutical Services. In his 35-plus year career, Mr. Tyson has negotiated complex multi-billion dollar mergers and acquisitions, led major turn-arounds that have fueled growth and value and, most significantly, has been instrumental in bringing more than 50 lifesaving and life improving medicines to the market.

Under the terms of the agreement, APT employees will remain employed at the site, and the plant will continue to manufacture certain Astellas pharmaceutical products on a contract basis. Astellas will continue to source a stable supply of high-quality products from the facility under the oversight of Avara following the acquisition.

"We are excited to have the APT organization join the Avara team and to add this significant capability to the Avara Company," said Tim Tyson, Chairman and CEO of Avara. Tyson added, "We are honored to have the strategic partnership with Astellas and to manufacture key products for them. We are excited to be able to transition this Astellas center of technical excellence to a worldwide pharmaceutical services center of excellence."

About Avara
Avara Pharmaceutical Services, Inc., based in Norwalk, Connecticut is an international pharmaceutical services company that delivers world class contract manufacturing and technical services to the pharmaceutical industry. Avara has primary and secondary manufacturing facilities in North America and Europe and supplies products to all major markets around the world. Our broad experience with supply chain, commercialization, product launch and product transfer allows us to sustain exemplary levels of product quality and regulatory compliance. We are known to exceed customer service level expectations and consistently deliver on time, in full at a fair price. For more information, please visit our website at www.avara.com.

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SOURCE Avara Pharmaceutical Services, Inc.