Aptuit Buys Evotec’s Chemical Development Arm

Drug development services group Aptuit (Greenwich, CT) says it has acquired the chemical development business of drug discovery firm Evotec (Hamburg) for $64 million in cash. The acquired business comprises activities in process R&D, custom preparation, analytical development, pilot plant manufacturing, and formulation. The business has about 210 staff based at Oxford and Glasgow, U.K., and generated 2006 sales of €26.8 million ($37.2 million). “This acquisition continues Aptuit’s momentum as we assemble a complete suite of drug development...

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