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Piramal Acquires Coldstream Labs

Adds expertise for high potency and cytotoxic drugs in the U.S.

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By: Kristin Brooks

Managing Editor, Contract Pharma

Piramal Enterprises Ltd. has invested $30.7 million in cash to acquire Coldstream Laboratories, through its wholly owned subsidiary in the U.S. Of this, $5.7 million will go towards the purchase of the facility currently leased to Coldstream.   
 
Coldstream is a specialty pharmaceutical contract manufacturer with a focus on clinical trial to commercial-scale sterile liquid and lyophilized parenterals and injectables. Coldstream, founded in 2007, is majority owned by University of Kentucky Research Foundation.
 
Coldstream has developed expertise to formulate and manufacture high potency and cytotoxic compounds including Antibody Drug Conjugates (ADCs). The company operates from a FDA approved facility in Lexington, KY. Coldstream had revenues of $14 million in 2014 and currently employs 91 people.
 
Mr. Vivek Sharma, chief executive officer of PEL’s Pharma Solutions business said, “Coldstream is a very high quality operation and has been able to build significant customer relationships and track record for sterile products. We see this as a great platform for growth in our Pharma Solutions business. This acquisition allows PEL to move further into the injectable market segment and should have strong synergy with our existing Pharma Solutions business. Our strong capabilities in sterile product development and in ADC product segment will allow us to offer an integrated solution to our customers.”

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