Noramco acquires former Halo Pharmaceuticals
WILMINGTON – Normaco, a global active pharmaceutical ingredients (API) manufacturer that specializes in controlled substances, has acquired a New Jersey drug product business formerly known as Halo Pharmaceuticals.
Headquartered in Wilmington at the edge of the 7th Street Peninsula, Noramco manufactures the APIs for more than 350 products sold in 30 countries, including those that treat attention deficit hyperactivity disorder (ADHD), manage pain and prevent drug abuse.
On Thursday, Noramco announced it acquired the Drug Product Business Unit from Cambrex, a global contract development and manufacturing organization (CDMO) based in East Rutherford, N.J. The deal was not made between strangers, as Noramco CEO Lee Karras previously served as CEO of Halo Pharmaceuticals before its 2018 deal to Cambrex.
Bringing Halo into the Noramco family will provide API customers of Noramco, and its cannabidiol-focused subsidiary Purisys, additional capabilities in drug product formulation development, clinical and commercial drug product manufacturing, and packaging from facilities in Mirabel, Québec and Whippany, N.J., officials said.
The terms of the deal between the two private companies were not disclosed.
“This acquisition allows Noramco to provide our customers with more sourcing options beyond APIs. With these additional capabilities, Noramco/Purisys customers can develop drug product formulations for their APIs for both clinical and commercial purposes,” Karras said in a statement. “Having previously operated the Halo Pharmaceuticals business, I have a direct appreciation of the capabilities of both sites and look forward to working with existing and future customers while welcoming the almost 400 new employees to the Noramco group of companies.”
Cambrex will still operate 13 global sites focused on providing drug substance development and manufacturing. CEO Thomas Loewald said the deal was “the result of a strategic decision to focus on core areas of growth and investment.”
“Looking forward, Cambrex will prioritize our drug substance and analytical testing portfolios, enabling our customers to develop and deliver therapeutic solutions for patients around the world,” he added.