Mergers and Acquisitions (M&A) in the Contract Manufacturing Industry – Implications and Outlook – 2023 Edition
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M and A In Pharmaceutical Contract Manufacturing Industry Report Overview
During 2018–22, contract manufacturing organization (CMO) merger and acquisition (M&A) deal activity increased, and the targeted manufacturers have adopted specialized capabilities such as controlled substance and containment manufacture. Despite considerable macroeconomic challenges for pharma manufacturers, 2021–22 witnessed strong M&A activity and CMO valuations, although there was a slight decline in CMO M&A activity in 2022 due to rising inflation and interest rates.
The Mergers and Acquisitions (M&A) in the Contract Manufacturing Industry report provides an analysis of mergers and acquisitions in the pharmaceutical contract manufacturing industry. It primarily looks at global M&A activity for the pharma CMO industry during 2021–22. Full company acquisitions, facility acquisitions, and the services involved are covered in depth.
M&A Trends | · Demand for CMO M&A Activity
· Private Equity · Changing Business Environment |
Deal Types | · Company Acquisitions
· Asset Transactions · Mergers · Private Equity Deals |
Value Chain | · API
· Dose Form Manufacturing · Packaging |
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M&A Activity Market Dynamics
Of the deals from 2021–22, around 45% of acquisition targets were API manufacturers, both small molecule and biologic. Biologic API production accounted for a larger quantity of acquisitions, approximately a quarter of deals, despite being the less common capability by far. Additionally, biologic API acquisitions have grown substantially since 2021.
Higher value deals took place in 2021 than in 2022. Russia’s invasion of Ukraine in 2022 significantly added to the inflationary pressures, which were already at play following economies reopening after the pandemic. Rising inflation and interest rates seen in 2022 are likely to have reduced M&A activity, with CMOs showing an increasing reluctance to take on debt. Despite challenging business conditions in 2021 and 2022, large CMOs were still involved in acquisitions to enhance their capabilities or scale of production.
CMO Industry - M&A Trends
The main trends that affected M&A activity during 2021–22 were demand for CMO M&A activity, private equity, and changing business environment. CMO M&A increased over 2018–22 (mergers, company acquisitions, private equity investment, and facility acquisitions). Private equity deals and facility acquisitions peaked in 2022. CMO acquisitions peaked in 2021 and declined substantially in 2022, which overall contributed to a slight decline in M&A activity in 2022 compared with 2021.
Top M&A trends in the CMO industry, 2021–22
For more insights into the M&A trends in the CMO industry, download a free report sample
CMO Industry - Deal Types
The key deal types related to the pharma CMO industry are company acquisitions, asset transactions, mergers, and private equity deals. During 2018–22, levels of private equity deals and asset transactions peaked in 2022. The number of CMO acquisitions peaked in 2021 and declined substantially in 2022.
Contract Manufacturing Industry Value Chain
The value chain of the contract manufacturing industry can be simplified into three main segments which are API, dose form manufacturing, and packaging. API is the active component of a drug. In the next layer of the value chain, active and inactive ingredients are combined to produce the final dose form such as a tablet or an injectable. Packaging can be further segmented into primary packaging and secondary packaging. Primary packaging is the placing of a dose form into a container that makes actual physical contact with the drug, while secondary packaging is the placing of a primary package into an outer container.
Contract Manufacturing Industry Value Chain
For more value chain insights into the CMO industry, download a free report sample
Segments Covered in the Report
CMO Industry Deal Types Outlook (2018-2022)
- Company Acquisitions
- Asset Transactions
- Mergers
- Private Equity Deals
Scope
This report gives important, expert insight you won’t find in any other source. 12 tables and 20 figures throughout the report illustrate major points and trends. This report is required reading for –
- CMOs: market trends, strategic planning, competitive intelligence, performance benchmarking
- Bio/Pharma: supplier performance benchmarking, market trends, competitive intelligence
- Private equity and stock analysts: target identification and analysis, portfolio company performance benchmarking
Reasons to Buy
- Overview of M&A in the pharma CMO Industry
- Detailed view of CDMO performance by number of deals, based on GlobalData’s Deals Database
- Analysis of M&A and private equity investment by target’s specific manufacturing services
ABC Farmaceutici SpA
Abu Dhabi Investment Authority
Abzena Ltd
Accutest Research Laboratories (I) Pvt Ltd
ACE Pharmaceuticals BV
Acino International AG
Actylis
AcuraBio Pty Ltd
ADC Biotechnology Ltd
AdhexPharma
ADL BioPharma SLU
ADQ
Adragos Pharma Gmbh
Advent International Corp
Advik Laboratories Ltd
AGC Biologics Inc
Akums Drugs & Pharmaceuticals Ltd
Alcami Corp
Aldevron LLC
Alora Pharmaceuticals LLC
ALS Ltd
Altan Pharma Ltd
Altasciences Co Inc
Alto Partners SGR SpA
Alvotech SA
Ampersand Capital Partners
AmpTec GmbH
ANG Lifesciences India Ltd
ANGUS Chemical Company
ANI Pharmaceuticals Inc
Anjac Health & Beauty
Ankur Drugs and Pharma Ltd. (Inactive)
Anthem Biosciences Pvt Ltd
API Corp
Apnar Pharma LP
Appco Pharma LLC
APR Applied Pharma Research SA
Aragen Life Sciences Pvt Ltd
Arcline Investment Management LP
Ardena Holding NV
Arevipharma GmbH
Arranta Bio
Asahi Kasei Medical Co Ltd
Asahi Songwon Colors Ltd
Ascendia Pharmaceuticals Inc
Ascensus Specialties LLC
Astorg Partners
Astral Steritech Pvt Ltd
AstraZeneca Plc
Astrea SA
Atara Biotherapeutics Inc
Athenex Inc
Atlas Life Sciences Pvt Ltd
Aurex Laboratories LLC
Austrianova Singapore Pte Ltd
Avomeen Analytical Services LLC
Aztiq Pharma Partners
Batavia Biosciences BV
Bayer SA (Brazil)
BBA Capitalpartners Management GmbH
BDR Pharmaceuticals Internationals Pvt Ltd
Beecken Petty O'Keefe & Company
Bio Elpida
BioAgilytix Labs LLC
BioCentriq
Bioconnection BV
Biodextris Inc
BioDuro-Sundia
BioIVT LLC
Bionique Testing Laboratories Inc
Bionova Scientific Inc
Biosynth Ltd
BirgiMefar Group
bluebird bio Inc
Bora Pharmaceuticals Co Ltd
Bristol-Myers Squibb Co
Bureau Veritas SA
Bushu Pharmaceuticals Ltd
Cambrex Corp
Cascade Chemistry
Catalent Inc
Celerion Inc
Cellipont Bioservices
Cenexi SAS
Central Glass Germany GmbH
Centrient Pharmaceuticals Netherlands BV
Cevec Pharmaceuticals GmbH
Charles River Laboratories International Inc
Chemic Laboratories Inc
China Gateway Pharmaceutical Development Co Ltd
ChrysCapital Management Company
Cinven Ltd
CJ Group
Clean Biologics SAS
Clinigen Ltd
CMAB Biopharma Inc
Cobra Biologics Ltd
Cognate BioServices Inc
Corden Pharma International GmbH
Corealis Pharma Inc
CoreRx Inc
Corona Remedies Pvt Ltd
CrystalGenomics Inc
Curapath SL
Curia Global Inc
Curida AS
Cytiva
Danaher Corp
Delpharm SAS
Delphi Genetics SA
Diatec Monoclonales AS
Drug Development Solutions Ltd
DRUGSTORE MORI co..,Ltd
Eczacibasi Holding AS
Eden Biologics Inc
Edgewater Capital Partners LP
EirGenix Inc
EKG Life Science Solutions LLC
Elanco Animal Health Inc
Element Materials Technology BV
Element Materials Technology Group Holdings Ltd
Enaltec Labs Pvt Ltd
Encube Ethicals Pvt Ltd
Enzychem Lifesciences Corp
Erbi Biosystems Inc
ERYTECH Pharma SA
Esteve Quimica SA
Ethypharm SAS
Eucodis Bioscience GmbH
EuroAPI SAS
Eutech Scientific Services Inc
Everstone Capital Asia Pte Ltd
Evotec SE
Exelead Inc
Expression Systems LLC
Fagron NV
Fertin Pharma AS
Flamma SpA
Flerie Invest AB
Florintree Advisors Private Limited
Forge Biologics Inc
Formulated Solutions LLC
Foster Delivery Science Inc
French Tech Sovereignty
Fresenius Kabi AG
FSN Capital VI
Fujian Kerui Pharmaceutical Co Ltd
Fujifilm Holdings Corp
Galbraith Laboratories Inc
GC Corp
GEM Global Yield LLC SCS
Genezen Laboratories Inc
GenIbet Biopharmaceuticals SA
GenNx360 Capital Partners, L.P.
Genome & Co
Genscript Biotech Corp
Gensenta Ilac Sanayi ve Ticaret AS
GL Chemtec International Ltd
Gland Pharma Ltd
Global One Healthcare Holding LLC
GNS Holdings Limited
Goldman Sachs Asset Management LP
Great Point Partners, LLC
Green Cross Cell Corp
H.I.G. Capital LLC
HBM Healthcare Investments AG
Hbm Holdings Ltd
Hepatic Cell Therapy Support SA
Hillhouse Capital Group
Hubei Yuyang Pharmaceutical Co Ltd
Ice Group AS
Idifarma Desarrollo Farmaceutico SL
Ilya Pharma AB
ImmunityBio Inc
Impact Analytical Inc
Ind-Swift Ltd
Industria Chimica Emiliana SpA
Infinity Laboratories
Inflexion Buyout Fund VI
Inflexion Enterprise Fund V
Inobic (Asia) Company Limited
Intas Pharmaceuticals Ltd
Intrum AB
InvAscent
IPCA Laboratories Ltd
iPharma Labs Inc
IriSys LLC
Japan Tissue Engineering Co Ltd
Jitsubo Co Ltd
Kartesia Advisor LLP
Kayaku Co Ltd
KCAS Bioanalytical & Biomarker Services
Keensight Capital
Kindeva Drug Delivery LP
Kiniciti LLC
KKR & Co Inc
Laboratorio Micro-Bios SL
LakePharma Inc
Leiters
Leonard Green & Partners LP
Leukocare AG
Lincoln Pharmaceuticals Ltd
List Biological Laboratories Inc
Lonza Group Ltd
Lotte Corp
Lotus Pharmaceutical Co Ltd
LTS Lohmann Therapie-Systeme AG
LX International Corp
Lyka Labs Ltd
Lyophilization Services of New England Inc
Mabxience Holding SL
Malladi Drugs & Pharmaceuticals Ltd
Management Team-Skyepharma Production SAS
Marksans Pharma Ltd
Meditab Specialities Pvt. Ltd.
Merck KGaA
Metrics Contract Services
MGC Pharmaceuticals Ltd
MicroBiopharm Japan Co Ltd
MicroConstants Inc
MidCap Financial Services LLC
Millstone Medical Outsourcing LLC
Mipharm SpA
Murano Bidco Ltd
Mycoscience Inc
Nanosyn Inc
National Resilience Inc
Nature Technology Corp
Ncardia Services BV
NextPharma Technologies GmbH
NextPharma Technologies Holding Ltd
Nichepharm Lifesciences Pvt Ltd
Nissin Pharmaceutical Co Ltd
Noramco Inc
Nordic BioAnalysis AB
Norgine BV
NovaQuest Capital Management LLC
Novartis AG
Novartis Gene Therapies
Novartis Ringaskiddy Ltd
Novitium Pharma LLC
Novo Holdings AS
NPO Petrovax Pharm
Nutra-Med Packaging Inc
NUVISAN Pharma Holding GmbH
Nuvo Pharmaceuticals Inc
Ology Bioservices Inc
Optimus Pharma Pvt Ltd
Orchid Pharma Ltd
Organix Inc
Organon & Co
Ortiv-Q3 Research Pvt Ltd
Osmotica Pharmaceutical Corp
Outlook Therapeutics Inc
Oxford Genetics Ltd
Pace Analytical Life Sciences LLC
Pace Analytical Services LLC
PAG
Panacea Biotec Ltd
Pangen Biotech Inc
Par Pharmaceutical Inc
PCI Pharma Services
Pepscan Holding NV
Petrichor Healthcare Capital Management
Pfizer Inc
Pharma Packaging Solutions
Pharmaron Beijing Co Ltd
Pharmax Pharmaceuticals FZ-LLC
Philip Morris International Inc
Phosphorex Inc
Pillar5 Pharma Inc
Piramal Pharma Solutions Inc
Pluristyx Inc
Polyplus-Transfection SA
Porton Pharma Solutions Ltd
PPD Inc
Praxis Packaging Solutions
Precision NanoSystems Inc
ProtaGene GmbH
Provepharm life Solutions SA
Psycheceutical
PT Kimia Farma Tbk
PT Pyridam Farma Tbk
Q1 Scientific Ltd
Quay Pharmaceuticals Ltd
Quinta-Analytica Sro
Quotient Sciences Alnwick Ltd
Quotient Sciences Ltd
Recipharm
Recipharm AB
Relief Therapeutics Holding AG
RheinCell Therapeutics GmbH
Rigenerand Srl
Rubicon Research Pvt Ltd
Sakar Healthcare Ltd
Sandoz Canada Inc
Sannova Analytical Inc
Sanofi
Sanwa Kagaku Kenkyusho Co Ltd
SCA Pharmaceuticals Inc
Searchlight Pharma Inc
Sekhmet Pharmaventures Pvt Ltd
Sekisui XenoTech LLC
SENSILAB Polska Sp zoo SKA
SEQENS
Seran BioScience LLC
Serum Institute of India Pvt Ltd
Sever Pharma Solutions AB
SFW Capital Partners, LLC
SGS SA
Shanghai MicroPort Medical Group Co Ltd
Shinshin Pharmaceutical Co Ltd
Signet Healthcare Partners
Skyepharma Production SAS
Snapdragon Chemistry Inc
Societal CDMO Inc
Softgel Healthcare Pvt Ltd
Solvias AG
Sotax AG
Spera Pharma Inc
SteriPack Group
Sterling Pharma Solutions Ltd
Strem Chemicals Inc
Strides Pharma Science Ltd
Sunsho Pharmaceutical Co Ltd
Suven Pharmaceuticals Ltd
Suzhou Fifth Pharmaceutical Factory Co Ltd
Suzhou Linhua Medical Equipment Co Ltd
Swissfillon AG
Symed Laboratories Ltd
Symeres
Synexa Life Sciences BV
Syngene International Ltd
Syntone Ventures LLC
SYRINX Bioanalytics Oy
Takeda Pharmaceutical Co Ltd
Tapemark Co
Tea Capital Partners Co Ltd
Teijin Ltd
Teligent Inc
ten23 Health AG
Tentamus Group GmbH
Terry Gou
tesa Labtec GmbH
Teva Pharmaceutical & Chemical (Hangzhou) Co Ltd
Tevapharm India Private Limited
The Capital Group Companies, Inc.
The Carlyle Group Inc.
The Ritedose Corp
Thermo Fisher Scientific Inc
Tjoapack BV
TOT Biopharm Co Ltd
Towa Pharmaceutical Co Ltd
TRC Capital Corp
Trirx Pharmaceutical Services LLC
True North Managers LLP
TWi Pharmaceuticals Inc
Undisclosed
Uniao Quimica Farmaceutica Nacional SA
Unither Pharmaceuticals SAS
Upperton Ltd
Uquifa SA
Vanamali Organics Pvt Ltd
Vectura Group Plc
Veeda Clinical Research Ltd
Velesco Pharmaceutical Services LLC
V-Ensure Pharma Technologies Pvt Ltd
Vibalogics GmbH
Vici Health Sciences LLC
Vigene Biosciences Inc (Inactive)
Vikas LifeCare Ltd
ViruSure GmbH
Vitruvian Partners LLP
Vivitide LLC
Viyash Life Sciences Pvt Ltd
Wacker Biotech US Inc
Wacker Chemie AG
Watson Pharma Pvt Ltd
Wavelength Pharmaceuticals
Welsh, Carson, Anderson & Stowe
Woerwag Pharma GmbH & Co KG
WuXi AppTec Co Ltd
WuXi Biologics Cayman Inc
WuXi STA (Shanghai) Co Ltd
WuXi Vaccines Co Ltd
Xpress Biologics SA
Yapan Bio Pvt Ltd
Yonsung Fine Chemicals Co Ltd
Zhejiang Jiuzhou Pharmaceutical Co Ltd
Zollaris Laboratories Corp
Zydus Lifesciences Ltd
Table of Contents
Table
Figures
Frequently asked questions
-
What are the deal types in the pharma CMO industry?
The key deal types related to the pharma CMO industry are company acquisitions, asset transactions, mergers, and private equity deals.
-
What are the value chains of the contract manufacturing industry?
The value chain of the contract manufacturing industry can be simplified into three main segments which are API, dose form manufacturing, and packaging.
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