Agilent acquires Canada pharmaceutical manufacturing company
Agilent Technologies, Inc. has acquired Canada-based Biovectra, a pharmaceutical manufacturing company that specializes in biologics and complex chemistry for targeted therapies.
The 55-year-old company is based in Prince Edward Island and Nova Scotia and has more than 600 employees and eight facilities spanning 270,000 square feet. The business will be folded into the same Agilent in Boulder and Frederick. According to Reuter’s, the deal is worth $925 million. It is expected to close at the end of 2025.
Biovectra will become part of the Agilent (NYSE: A) Nucleic Acid Solutions Division, led by Vice President and General Manager Brian Carothers. NASD is part of the Diagnostics and Genomics Group.
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Biovectra’s capabilities complement Agilent’s NAS division, according to a news release, enabling Agilent to offer more specialized contract development and manufacturing. According to the release, the addition of Bioectra will give Agilent expertise in gene-editing technology and the fast-growing services of antibody drug conjugates, the news release stated.
According to the release, Biovectra earned $113 million in revenue in 2023, and officials expect double-digit growth in 2024. The company recently made $240 million worth of capital investments to expand its operational footprint in both Prince Edward Island and Nova Scotia.
Agilent has facilities in Boulder and Frederick and employs more than 400 people to serve the biotech and large pharmaceutical industry.