Agilent Completes Acquisition of BIOVECTRA
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Agilent Technologies had announced the company has completed its acquisition of BIOVECTRA, a Canada-based contract development and manufacturing organization (CDMO) that specializes in biologics, highly potent active pharmaceutical ingredients, and other molecules for targeted therapeutics. All closing conditions are completed, including receipt of regulatory approvals. BIOVECTRA is now part of Agilent’s Diagnostics and Genomics Group.
“We are delighted to officially welcome the BIOVECTRA team to Agilent,” said Agilent President and CEO Padraig McDonnell. “This acquisition demonstrates our commitment to providing customers the most advanced capabilities to accelerate their therapeutics programs, including best-in-class cGMP pharmaceutical manufacturing.”
With the addition of BIOVECTRA, Agilent will expand its portfolio of CDMO services, add rapidly growing modalities, and bring world-class capabilities to support gene editing. Additional details are available in the news release announcing the acquisition agreement.
Agilent expects the transaction will be $0.05 dilutive to non-GAAP earnings per share (EPS) in the first full year after closing and deliver a double-digit return on invested capital (ROIC) by year five. Agilent funded the transaction using a mix of cash on hand and debt financing.
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