Cambrex Shareholders Approve Sale of Bio Business
Stephanie LaFiura, Investor Relations Associate
EAST RUTHERFORD, NJ - Cambrex Corporation (NYSE: CBM, "Cambrex") today announced that at a Special Meeting of Shareholders held earlier today, its shareholders approved the sale of the Bioproducts and Biopharma subsidiaries (the "Bio Businesses") to Lonza Group AG ("Lonza").
James A. Mack, Chairman, President and Chief Executive Officer of Cambrex Corporation, said: "We are pleased that our shareholders overwhelmingly support the sale of our Bio Businesses to Lonza. We feel that this transaction represents the most compelling means for realizing value for Cambrex shareholders."
Cambrex and Lonza anticipate closing this transaction within the next two to five business days.
Cambrex Corporation is an innovative life sciences company that provides products, services and technologies to accelerate the development and commercialization of small molecule therapeutics. The Company offers Active Pharmaceutical Ingredients (APIs), advanced intermediates and enhanced drug delivery products for branded and generic pharmaceuticals. Development and manufacturing capabilities include enzymatic biotransformations, high potency APIs, high energy chemical synthesis, controlled substances and formulation of finished dosage form products. For more information, please visit www.cambrex.com.