Almac Sciences acquire PDMS

December 2, 2003

On 2 December 2003 a Management Buyout of the PDMS Division of Galen Holdings Plc was concluded. As you are probably aware the declared Galen policy since the purchase of Warner Chilcott has been the disposal of its service business so that it can become a pure pharma company.

Pharmaceutical Development and Manufacturing Services or PDMS as it is more commonly known is primarily focused on providing a broad range of specialist services for the pharmaceutical, healthcare and biotechnology industries. These services include drug product formulation, process development, analytical method development and validation, pack design, commercial-scale manufacture, inventory management and distribution.

PDMS was purchased by a new company called Pharmaceutical Development and Manufacturing Services Limited, a company under the control of Dr. Allen McClay, the founder and former President and Director of Galen. PDMS was sold for a total cash consideration of £20 million ($34 million).

PDMS, based in Seagoe Industrial Estate, Craigavon, employs approximately 300 people and as part of the purchase agreement PDMS has entered into a supply agreement with Galen’s UK product business to continue to manufacture, supply and distribute a number of products for the UK and Irish markets.

To date CTS, CSS and ICTI have been purchased and provide a wide range of services to pharmaceutical, biotech and virtual companies.

It is intended that PDMS will further increase the comprehensive services available to customers. As the Almac Group becomes integrated in the future and the facilities and services are enhanced it will be equally important to grow and strengthen the management team so that a high quality service will be delivered to all our customers.

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