A Pharmaceuticals (Contract Research & Manufacturing Services (CRAMS)) entity from overseas is looking for strategic investment opportunities.

The Company is seeking acquisition targets in the CRO and/or CDMO space with the following criteria-

CROs

• Advanced Research for regulated markets (US, Europe, Japan), targeting the innovator segment, not the generics,
• Readiness to get into intermediate / API manufacturing,
• Not interested in companies engaged in BA / BE studies or drug trials,
• Financial metrics:
  • Revenue: $ 2.5 Mn - $ 10 Mn,
  • Minimum EBITDA Margin: 20%

CDMOs

• Manufacturing for regulated markets (US, Europe, Japan), targeting the innovator segment, not the generics,
• Specializing in chemical development, pharma intermediates,
• Not interested in: Formulations, Companies with weak R&D, pure play API manufacturers,
• Financial metrics:
  • Revenue: $ 4 Mn - $ 15 Mn
  • Minimum EBITDA Margin: 15%

Acquisition preferences:

• Strong client relationships with innovators from US, Europe and/or Japan (ideally)
• Very keen on control transactions in cash