This is Lambda’s second footprint in North America following the acquisition of R&D facilities of Biovail CRO in 2010 in Canada
Leading Contract Research Organisations (CRO), Lambda Therapeutic Research, has reached an agreement to acquire Novum Pharmaceutical Research Services, a leading CRO in the US.
Commenting about the acquisition of Novum, Bindi Chudgar, Managing Director, Lambda Therapeutic Research said, “This is our second footprint in North America following our acquisition of the R&D facilities of Biovail CRO in 2010 in Canada. Novum is a strategic fit for Lambda as it provides a natural platform for growth in the US, the world’s largest pharmaceutical market. Novum brings with it a strong technical and management team. We expect this acquisition to blend with and strengthen our existing capabilities as we extend our global reach in serving clients in this evolving market.”
“Combining with Lambda creates an opportunity for Novum and our clients to have a broader capability across a global footprint to accommodate the growing needs of our client base,” said Christopher H Chamberlain, Chief Executive Officer, Novum. “We are excited to become part of a respected global organisation that wants to grow its presence in the US.”
Dr Tausif Monif, President of Global Operations, Lambda said, “Our collective client base will benefit from this unique combination of companies with complimentary skills sets, a stellar track record of performance, and exceptional quality in scientific technology capabilities for complex drug product development and clinical trials. This will add greater value for our respective global clients’ drug development programmes and greater efficiencies for our combined operations.”
Dr Mrinal Kammili, Executive Director and Global Head-Business Development, Lambda said, “This combined entity provides us with an opportunity to scale up our operations and creates one of the largest and most comprehensive offering of on-demand and on-premise solutions to our global clients. We are confident that this acquisition will result in a stronger entity with multiple synergies to fuel our future growth”