California Pharmaceutical Company Enters Business Merger
On behalf of The Law Office of Lynnette Ariathurai, A Professional Corporationposted in Mergers & Acquisitions on Friday, January 24, 2014.
The pharmaceutical industry can be lucrative; however, it can be competitive as well. There are also many potential liabilities and unforeseen costs that could affect a pharmaceutical company financially. A significant amount of resources may be required to offset these risks. One California pharmaceutical company has recently agreed to a business merger in order to mitigate these risks as well as enhance its position within the market.
The California pharmaceutical company, CCBR-SYNARC, has decided to merge with BioClinica, which is based out-of-state. The California company currently provides clinical services to biotechnology and pharmaceutical firms. BioClinica is known for managing clinical trials in the United States as well as overseas.
The details of the financial terms agreed to between the two parties have not yet been revealed to the public. However, the two privately held firms expect the merger to be finalized within the first quarter of 2014. The newly merged pharmaceutical firm will employ 1,250 workers, according to a company spokesperson. BioClinica's current president and CEO will be the CEO of the newly formed pharmaceutical and biotechnology company.
The business merger between the California company and BioClinica is aimed at allowing the newly merged company to gain larger market share as well as improve the overall positioning within the pharmaceutical industry. However, when merging two companies, it is necessary to make this change in operating procedures as efficient as possible. It is also essential to ensure that the merger conforms to all applicable laws. Also, one should make sure to submit the correct legal documents to the relevant regulating agencies.
Source: philly.com, BioClinica to merge with California company, Reid Kanaley, Jan. 17, 2014