Canada-based BioVectra is a contract manufacturing services supplier to the global pharmaceutical and biotechnology industry as well as manufactures active pharmaceutical ingredients (APIs), chemical intermediates and bioprocessing reagents.
BioVectra, which has been Questcor’s manufacturing partner for the API in Questcor’s H.P. Acthar Gel for nearly a decade, will continue to operate independently in Prince Edward Island, Canada, under its existing management team with Questcor’s support.
The acquisition is expected to enable Questcor to further know the manufacturing process trade secrets of Acthar.
Questcor president and CEO Don Bailey said, "This action puts us in a better position to meet the continuing growth in demand for Acthar, brings to our company a broader depth of technical and scientific expertise, and provides us with a platform for potential international expansion."
BioVectra CEO Ron Keefe said, "We pride ourselves on being a strategic partner, forging long-term relationships with our clients and utilizing our proven technical skills to serve our clients’ business needs."
The transaction, which may be immediately accretive to Questcor’s non-GAAP earnings, is expected to be closed in January 2013.