Warnex has entered into an agreement in principle for the acquisition of the MDS Pharma Services pharmaceutics business located within its Blainville, Quebec facility
The Blainville pharmaceutics operations reported $6.7 million in annual revenue in its last fiscal year.
"This significant acquisition reflects our strategy to grow both organically and through acquisitions," said Mark Busgang, president and CEO of Warnex.
"MDS's pharmaceutics operation has an excellent reputation for quality and customer service, which will enhance Warnex's leadership in the laboratory market in the province of Quebec".
MDS Pharma Services's pharmaceutics laboratory offers pharmaceutical analysis, traditional chemistry, microbiology, method development and validation, technology transfer, and stability studies.
The Blainville operations occupy 28,000 square feet and are fully cGMP compliant.
The transaction is subject to usual conditions, including the conclusion of all related agreements and the obtaining of all requisite corporate and other authorizations, and is expected to close on or prior to August 31, 2006.
