Raybow Pharmaceutical, a global pharmaceutical chemistry services provider, has acquired U.S.-based PharmAgra Labs.
Raybow is a global provider of outsourced pharmaceutical process development and manufacturing services. Headquartered in Taizhou, China, the company employs more than 1,400 employees worldwide. PharmAgra is a custom chemical research and development company located in Brevard, NC with current services that include custom synthesis, process development and optimization and analytical services.
The PharmAgra acquisition expands the global footprint of Raybow and gives it close proximity to the company’s growing U.S. customer base. The Brevard facility will become the headquarters and R&D center for North American operations. It will be supported by sales and marketing offices in Los Angeles, CA, Princeton, NJ and Copenhagen, Denmark.
Raybow CEO Mr. Bin Wang commented, “We are excited to welcome the PharmAgra team since this is an excellent fit for both companies,” said Bin Wang, chief executive officer, Raybow. “Raybow’s European and U.S. clients will appreciate the option for contract services within the U.S. The PharmAgra team has a proven track record established during their 20 years of custom synthesis services. Coupled with existing capacity ranging from grams to multi tons, we now have the flexibility to accommodate all of our clients’ phase-appropriate outsourcing activities on multiple continents.”
Raybow is planning an expansion project at the PharmAgra site, adding additional capacity and personnel in the Brevard area.
Peter Newsome, co-founder of PharmAgra Labs, said, “Our future with Raybow fits perfectly with our long-term goal of providing increased chemistry capabilities for our clients in all industries.-Contract Pharma